888 Lorain Blvd - Hospitality FOR SALE


Elyria, OH 44035
$375,000 USD
419-627-1996
888 Lorain Blvd, Elyria, OH for Sale
$375,000 USD
Hospitality - FOR SALE
1/5
null | Request Cap Rate

888 Lorain Blvd
Elyria, OH 44035


HIGHLIGHTS

  • High-visibility commercial rehab
  • Redevelopment opportunity

OVERVIEW

HIGH-VISIBILITY COMMERCIAL REHAB OR REDEVELOPMENT OPPORTUNITY ?? Address: 888 Lorain Blvd, Elyria, OH 44035 Property Type: Commercial / Hotel-Motel (Potential Mixed-Use) Prime Location, Maximum Exposure! Unlock the potential of this strategically located property directly on Lorain Blvd (State Route 57) in Elyria, Ohio. Positioned in a high-traffic area, this site offers unparalleled visibility for a new business, redevelopment project, or total rehabilitation. Highlights & Features: High Traffic Corridor: Situated on the primary commercial artery of Elyria, ensuring high visibility. Land Area is 0.95-Acre total of all 4 lots. Generous space for redevelopment. Proximity to Infrastructure: Fast access to Interstate 80 (Ohio Turnpike) and State Route 57. Surrounding Amenities: Close to dining, retail, and hospitality services, with high residential density nearby. Existing Structure: The site includes a 9,968 sq ft building structure that is currently in the process of being saved/rehabilitated, offering potential for redevelopment rather than just land value. An Investor’s Dream in a Revitalizing Corridor! This property presents an exceptional opportunity to bring new life to a high-profile location in Lorain County. Whether you are looking to rehabilitate the existing structure or redevelop the approximate 0.95-acre of all 4 parcels, this is the prime spot for your next project. Don't miss this chance to own a piece of prime Elyria real estate.

FOR SALE DETAILS

PRICE

$375,000 USD

PRICE/SF

$38 USD /SF

# OF ROOMS

25

PRICE/ROOM

$15,000 {currency}

CAP RATE

Request Cap Rate

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Journey Inn

PROPERTY TYPE

Hospitality

TOTAL BUILDING SIZE

-

STORIES

2

ROOM ENTRANCE

Exterior

BUILDING CLASS

C

YEAR BUILT

1978

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.81 AC

LAND SF

35,284 SF

ZONING

motels and tourist cabins

APN/PARCEL ID

06-24-027-116-017

ASK ABOUT THIS PROPERTY

Dale CoffmanRE/MAX Quality Realty Inc.More Info
419-627-1996

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Dale CoffmanRE/MAX Quality Realty Inc.More Info
419-627-1996

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