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Financial
Distress signals
Property profile

507 E River St Elyria, OH 44035

FOR SALE
Medical Office Space
Property ID
US66-2602867
2,710 SF 0.2 ac lot Built 1982
Last sale Feb 2005
Trust Owned Owner of record is a trust. 21-yr Hold Held for 21 years. Free & Clear No active or open recorded mortgage detected.
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Property summary

AI-generated overview

The property is a two-story medical office building containing 5,420 square feet on a 0.47-acre site. It is configured as an existing medical-office layout suitable for professional healthcare operations and related office use. The building is located at 507 E River Street in Elyria, Ohio, less than one block from UH Elyria Medical Center and just east of downtown Elyria. An adjacent 0.30-acre corner lot exists as an additional parcel option.

Ownership intelligence

Who controls the opportunity?

Owner of record from public deeds, plus portfolio, hold profile and investor signals where the data supports them. Included with a plan.

Owner contacts

Can we reach the decision maker?

Skip-traced phones and e-mails of the owner. Included with a plan.

Debts

What is owed, to whom, and when it comes due

Recorded lenders, amounts and estimated maturities of the owner's loan book — included with a plan.

Property tax · 2023

What does the county charge?
$13k
Tax billed · 2023
Assessed value$178k
Assessed land$15k
Assessed improvement$163k
Effective rate7.27%

Value estimate

· Oct 2026
$290k
$261k – $319k
AI approach$290k
NOI build-up
Gross scheduled income$119k
Vacancy & credit loss−$10k
Operating expenses−$44k
NOI · 22.15% cap applied$65k

Realmo valuation models over county records and 6 qualifying comparable sales.

Recently sold

What actually traded nearby?
$93/SF
County average, outlier-cleaned · 36 recorded sales of this use type
Observed band · Q1–Q3$49 – $149
Qualifying comparables6

Cap rate analysis

How does the asset earn?
22.15%
$65k estimated NOI · market benchmarks for this use type

Price anchors at 6 / 6.5 / 7% — in the full report.

Zoning insight

No data for this section
What can be built here?

No zoning code is on file for this parcel. Coverage grows with every catalog release.

JurisdictionLORAIN

Location intelligence

Which uses thrive at this corner?
Best fit: Realty agency
Demand heat for this use is drawn on the map · LocInt grid
Demand index
Realty agency64.2
Restaurant48.1
Building Supply38.9

Location

507 E River St Elyria, OH 44035
County assessor Recorded deeds · 1 transfer 6 qualifying comp sales Zoning catalog · not on file

Every figure names its source: public record, benchmark, or modeled. Coverage varies by property — thin data is stated as missing, never invented.

Comparables

6 recorded sales · 13 properties nearby
Recent sales nearby
6 recorded sales in this ZIP, last 8 years
Address Sale price Sold Size
229 5th, Elyria, OH 44035-5721 $160,000 Jul 2025 2,207 SF
512 Broad, Elyria, OH 44035 $200,000 Dec 2024 3,060 SF
850 Broad, Elyria, OH 44035-6559 $245,000 Oct 2022 2,242 SF
550 Abbe N, Elyria, OH 44035-3709 $14,500 Aug 2020 2,990 SF
276 Logan, Elyria, OH 44035-6224 $260,000 Jul 2019 3,192 SF
1170 Broad St, Elyria, OH 44035-6351 $2,100,000 Oct 2018 2,728 SF
Sale prices and dates as our records hold them, one row per building. A deed can cover more of a building than the size shown, so read the price against the size rather than dividing one by the other.
Comparable nearby
6 properties of the same type nearby
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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