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Property profile & analytics
FOR SALE
Turn key restaurants

517 Griswold Rd Elyria, OH 44035

3,704 SF 0.81 ac lot
Entity Owned 5-yr Hold ~ Est. High Equity
Property ID
US66-4435873
Property summary
AI-generated overview

This 0.8-acre commercial property at 517 Griswold Road in Elyria, Ohio (44035) is a former restaurant building available for $445,000. Located near Midway Mall and major highways, providing convenient access to a high volume of traffic and other national retailers. The property is zoned for commercial use and offers ample parking. The building itself requires significant renovation. However, it boasts a newer roof, representing a cost saving for a potential buyer. The property's strategic location within a well-established retail area presents a unique opportunity for an investor or entrepreneur seeking a restaurant space or other commercial venture. The substantial lot size provides flexibility for future development or expansion. This is a prime opportunity to acquire a property in a high-traffic area at a price designed to sell quickly. Serious inquiries are encouraged.

Property profile
Verified
Property type Turn key restaurants
Use group RESTAURANT
Total area 3,704 SF
Lot 0.81 ac (35,284 SF)
APN 06-23-016-102-040
UPID US66-4435873
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
by Request
Owner & transaction history
Erie Asset Management INC · 5 yrs held
Erie Asset Management INC
since 2021
Last sale
$165,000
3 recorded transactions
2021
$165,000
2019
Price N/A
2005
$216,000
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
More about this property
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