633 Broad St - Office/Residential FOR SALE


Elyria, OH 44035- Downtown Elyria
$1,600,000 USD
216-363-6423
633 Broad St, Elyria, OH for Sale
$1,600,000 USD
Office/Residential - FOR SALE
1/9
null | Request Cap Rate

633 Broad St
Elyria, OH 44035
Downtown Elyria


HIGHLIGHTS

  • 100% Tenant occupancy
  • Central downtown location walkable to restaurants and other amenities
  • Detailed records of all improvements and renovations available
  • Below market rents, allowing for significant upside potential

OVERVIEW

This 3-building complex with adjacent land is fully occupied by Geisel Mechanical, Lorain County Bar Association, New to You, and various other legal offices and residential tenants on the 2nd floors. The property has been owned for generations dating back to 1976 with the original building purchase and later the adjacent buildings in 1981 and 1990. As the long time Headquarters for Geisel Mechanical, over the years as the business grew so did the family’s ownership and development of these properties. With its central downtown location, not only was it perfect for Geisel’s headquarters, but also the development of 2nd floor offices (the Lawyer’s Loft) and 4 residential apartments. The adjacent office suite currently leased by Lorain County Bar Association, retail shop New to You, and adjacent land offer the ability to expand Geisel in the future if needed.

FOR SALE DETAILS

PRICE

$1,600,000 USD

PRICE/SF

$129 USD /SF

CAP RATE

Request Cap Rate

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

625-627-633 Broad Street, Elyria

PROPERTY TYPE

Office

PROPERTY SUBTYPE

Office/Residential

ADD'L SUBTYPES

Storefront, Office/Residential

TOTAL BUILDING SIZE

-

STORIES

2

BUILDING CLASS

B

YEAR BUILT

1976

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.59 AC

LAND SF

25,617 SF

ZONING

-

APN/PARCEL ID

06-26-073-000-004,06-26-073-000-005,06-26-073-000-006,06-26-073-000-007

ASK ABOUT THIS PROPERTY

Steve RossCBRE, Inc.More Info
216-363-6423

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Steve RossCBRE, Inc.More Info
216-363-6423

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.