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614 Prospect St
Elyria, OH 44035
Retail Property For Sale

Executive Summary
This is a rare opportunity to acquire a well-maintained, income-producing commercial property in a prime, high-visibility location in Elyria. The building is fully occupied by three tenants—a convenience store, bakery and Church currently generating $3150 per month in gross income. This freestanding brick plaza features frontage on Prospect Street, one of the city’s main thoroughfares, ensuring outstanding exposure and accessibility. The property also offers ample on-site parking for customers and employees & benefits from strong foot traffic. It is surrounded by a healthy mix of residential neighborhoods, retail establishments, and service-oriented businesses. Its central location provides convenient access to major highways and is just minutes from downtown Elyria. With stable tenancy, strong visibility, and a desirable location, this turnkey property presents an excellent opportunity for investors seeking reliable cash flow and long-term value. Please do not disturb tenants.
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Storefront
Building Size
4,608 SF
Building Class
C
Year Built/Renovated
1958/2014
Price
$450,000
Price Per SF
$97.66
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.28
Lot Size
0.38 AC
Parking
19 Spaces (4.77 Spaces per 1,000 SF Leased)
Frontage
Property Taxes
| Parcel Number | 06-25-006-114-025 | Improvements Assessment | $35,854 |
| Land Assessment | $21,725 | Total Assessment | $57,579 |
Property Taxes
Parcel Number
06-25-006-114-025
Land Assessment
$21,725
Improvements Assessment
$35,854
Total Assessment
$57,579
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