500 Middle AvenueElyria, OH 44035

500 Middle AvenueElyria, OH 44035

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$139,900 Active
Commercial - Business MLS 5178660

Listed By

Agency Name: Howard Hanna
Agency Contact: karenmobert@howardhanna.com, 440-785-2073

Shown By

Agency Title: Cutler Real Estate
Agency Phone: 888-763-7575

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Property Description

What a great building for versatility. You have almost 10,000 sqft of building space (including the roughed in walls on the 2nd story) near downtown Elyria that offers widespread business opportunities with high traffic and visibility benefits. Location, Location, Location! Consider having one large business with separate departments, or since there's 4 separate entrances, and walls dividing the space, it can be a great rental for 3 separate businesses, as well as an unfinished 2nd story area that can be transformed into 2 or more apartments, or more bonus space too. This building can be a clean slate to bring your business ideas, architect and contractor to bring it back to its fullest potential. Refer to the uploaded B-N Business district permitted and conditionally permitted zoning use list. The facade may qualify for the Cities Business Dvlpmt Grant and/or low cost financing for interior improvements as well. Contact Dawn Colvert (Asst safety service director for Elyria) for more details. Buyers are encouraged to do their own Due Dilligence. It has been vacant for many years with minimal knowledge and/or guarantees about the condition. The primary parking lot included with this purchase is across the street on 5th street (It has a garage on it). The lot can accomodate 15 cars with the garage intact, and 18 cars without the garage, and 3 more parking spots behind this building. Sellers recommend including the 2 story home behind the building as a package deal (refer to MLS#5178621) for the land to expand more parking spaces (if needed). It's highly recommended to view the buildings during daylight hours & bring your own flashlights. WARNING:The property may contain mold/fungal growth. Visitors viewing the property with sensitivities should be aware of this and are advised to wear appropriate protective coverings as they feel fit. Entry is at the visitor's discretion. Building is being sold in its As-is current condition. Please qualified CASH Buyers only.

500 Middle Avenue | MLS# 5178660

This commercial property located at 500 Middle Avenue, Elyria, OH 44035 is currently listed for sale with an asking price of $139,900. Middle Avenue is located within the Elyria City school district. Search Elyria real estate on 15ontariotrail.cutlerhomes.com today.

Property Features

Property Type: Commercial - Business
Basement: Yes
Basement: Partial, Bath/Stubbed
Days on Market: 5
Heating: Baseboard, Gas, Hot Water, Steam
Lot Size: 0.28 Acres
Roof Type: Asphalt, Fiberglass, Flat, Membrane, Mixed
Stories: 2.0
Taxes: $4,850 / year
Year Built: 1930

Feature Descriptions

Parcel#: 06-26-043-000-001
Parking: Additional Parking, Off Site, Parking Lot, On Street, See Remarks
Sewer: Public Sewer
Water: Public

Local Schools

School District: Elyria City

Demographics

Lorain County Demographic Information for 500 Middle Avenue, Elyria, OH 44035
Fips
Fips Code 39093
Population
2020 to 2023 Change up 1.6%
2010 Count 301,356
2020 Count 312,964
2023 Estimate (V2023) 317,910
2020 Estimate (V2023) 312,956
Age Distribution (Years Old)
0 to 4 5.3%
5 to 17 21.4%
18 to 64 53.4%
65 and Older 19.9%
Gender
Male 49.6%
Female 50.4%
Place of Birth
Foreign 2.8%
US 97.2%
Education
High School Graduate, Age 25+ 91.2%
Bachelor's Degree or Higher, Age 25+ 27.2%
Computer and Internet use
Households with a computer 93.8%
Households with a broadband Internet subscription 84.5%
Language
English is Second Language, Age 5+ 7.0%
English is First Language, Age 5+ 93.0%
Veterans
Veterans 17,970
Income
Per Capita Income $37,171
Median Household Income $67,272
People in Poverty 12.8%
Commute
Average Work Commute Time 26 minutes
Housing
Total Housing Units 136,666
Households 124,510
Average Household Size 2.45
Owner-Occupied 72.9%
Multi-Family 17.0%
Owner-Occupied Median Value $191,900
Median selected monthly owner costs -with a mortgage $1,474
Median selected monthly owner costs -without a mortgage $591
Median gross rent $886
Building Permits
New Private Housing Issued 2023 987
Years at Residence
1 Year or More 90.0%
Less Than 1 Year 10.0%
Business and Employment
Private non-farm Establishments 5,574
Private non-farm Employment 83,286
Private non-farm Employment Growth 0.0%
Nonemployer Establishments 21,027
Number of Firms 20,914
Business Production
Value of Shipments $6,058,884,000
Wholesale Trade $2,315,415,000
Retail Trade $3,875,576,000
Retail Sales Per Capita $12,297
Accommodation and Food Services $444,363,000
Land
Land Area 491.10 sq. miles
Population Per Square Mile 614

Source: US Census Bureau