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Rare Office/Industrial Building with Seller Leaseback Potential 225 East Avenue, Elyria, OH 44035
Availability:
for sale
Property Type:
Industrial
Office
Office
Year Built:
2004
Building Size:
79,851 SF
Land Size:
2.64 Ac
Price:
$4,245,000
Price per SF:
$53.16
Zoning:
B-D Business Downtown District
Sheila Miu
sheila@gerspachergroup.com
(330) 722-5002
Troy Gerspacher, CCIM, SIOR
troy@gerspachergroup.com
(330) 722-5002
Property Description
This ±79,851 SF downtown Elyria property offers a unique opportunity to acquire a versatile and well-maintained facility ideal for warehouse, or light manufacturing use with office. Situated on ±2.64 acres with over 93 parking spaces, it features a functional blend of executive offices, conference rooms, break areas, and warehouse space with 18’ - 23’ ceiling heights, 2 loading docks, a drive-in door and eight box-truck doors. Designed for flexibility, the building’s multiple lobbies, kitchenettes, and ADA-compliant restrooms accommodate single or multi-tenant use, with additional office space on the second floor and more than 20,000 SF of basement storage, including a freight elevator. The current occupant, The Chronicle / Lorain County Printing and Publishing, is interested in leasing back approximately 28,000 SF of office offering investors immediate income potential and long-term stability. Please see pages to follow for additional details about Major Mechanicals, the neighboring Redevelopment Project, and Business Incentive Programs.
This property is located in an OPPORTUNITY ZONE. This program enables investors with capital gains tax liabilities to receive favorable tax treatment for investing in properties within an opportunity zone.
Area Description
Located in the heart of downtown Elyria, 225 East Avenue is situated on the corner intersection of East Avenue, Second Street, and East Avenue - 3rd Street. This central location places the property within walking distance of key downtown amenities. Immediate access to I-80/I-90 and strong regional road links reduce transit times to Cleveland, Akron, and Lorain port facilities — a clear advantage for distribution and regional manufacturing. Interstate 90 is approximately 4 miles north of the property and the Ohio Turnpike is approximately 3 miles.
Highlights
- Available: ±79,851 SF
- 1st Floor (±49,029 SF) - Warehouse: ±28,429 SF | Office: ±20,600 SF
- 2nd Floor (±8,557 SF)
- Basement (±20,348 SF)
- Frontage: ±365’ on East Avenue | ±362’ on 2nd Street | ±274’ on 3rd Street
- Power: High Power 3-Phase, 3,000 AMPS, 480 V and Back-up CAT Generator
- 2 Docks | 1 drive-in door | 8 box truck doors
- INCOME OPPORTUNITY for sales leaseback – current tenant desires for long-term lease of ±17,412 SF of office space
- Sprinklered throughout
- Parking: 93+ spaces
- Zoning: BD (Business Downtown)
- In an OPPORTUNITY ZONE – see pages to follow Business Incentive Programs
- Highway Access: 4 miles to I-90, 3 miles to Ohio Turnpike
Full Address: 225 East Avenue, Elyria, OH 44035
Listing Type: FOR SALE
Status: Active
Zoning: B-D Business Downtown District
Region: M-EN
Property ID: 4094886
Building Sf: 79,851
Number Units: 2
Year Built: 2004
Features