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Former McDonald's Site 661 Griswold Rd 1 Acre of Commercial Land Online Auction Sale Elyria, OH 44035
Investment Highlights
- 661 Griswold Road presents a 1-acre commercial parcel zoned B-G, supporting hotel, medical/office, banking, retail, or service development.
- Prominently located, this is a premier development opportunity supporting many business operations, as it was previously developed for a McDonald’s.
- Visible to 43,200+ daily passing vehicles near the intersection of Griswold Road and Lorain Boulevard, sitting at its own signalized corner.
- Shadow-anchored by a Quality Inn, Holiday Inn, and a Best Western Inn, driving immediate traffic and consumer demand in the immediate area.
Executive Summary
Colliers represents the opportunity to acquire a 1-acre commercial parcel at 661 Griswold Road, previously developed for a freestanding McDonald’s, now offered vacant and ready for a wide variety of commercial operations.
The subject site benefits from over 200 feet of direct frontage along Griswold Road and 200 feet along Leona Road. The corner parcel is highly visible and easily accessible, sitting at its own signalized intersection, and just off the Griswold Road and Lorain Boulevard interchange. A handful of shopping centers surround the site, such as River Street Square, Midway Point Shopping Center, the Shoppes of Midway, and Midway Market Square. This, in addition to freestanding commercial businesses, drives spending, traffic, and synergy in the area. National neighbors include The Home Depot, Target, Planet Fitness, Best Buy, Lowe’s, and PetSmart.
Elyria is a small riverside city just outside Downtown Cleveland and offers regional attractions like Lake Erie, a small-town environment, and large employers such as UH Elyria Medical Center and Lorain County. With interstates 80 and 90 running through the north end of town, residents are roughly 30 miles from downtown Cleveland and 52 miles from Akron. Interstate 80 also connects to New York City, 475 miles to the east.
10-mile demographics indicate a growing population of 314,216 residents and over 126,520 households. The average household income exceeds $103,000, and the realm generates a robust spending power of more than $3.9 billion each year. Food and beverage, transportation and maintenance, and household goods are the three largest spending categories.
Cleveland is a large, mature Midwest market defined by economic stability. Located in northeast Ohio, the five-county region is home to roughly 2.2 million residents and serves as a central hub for healthcare, manufacturing, and institutional employment. The metro continues to generate steady job growth supported by a diversified employment base and substantial industrial infrastructure.
Ownership has additional listings; please see all available listing URLs here:
• 1800 36th Ave, Moline, IL 61265: https://www.loopnet.com/Listing/1800-36th-Ave-Moline-IL/41708014/
• 2920 NE Adams St, Peoria, IL 61603: https://www.loopnet.com/Listing/2920-NE-Adams-St-Peoria-IL/38476259/
• 1050 Valley St, Minerva, OH 44657: https://www.loopnet.com/Listing/1050-Valley-St-Minerva-OH/33910057/
• 3034 Mahoning Ave, Youngstown, OH 44509: https://www.loopnet.com/Listing/3034-Mahoning-Ave-Youngstown-OH/41316602/
• 5416 Ridge Ave, Cincinnati, OH 45213: https://www.loopnet.com/Listing/5416-Ridge-Ave-Cincinnati-OH/41708026/
• 7844 North Point Blvd, Winston-Salem, NC 27106: https://www.loopnet.com/Listing/7844-North-Point-Blvd-Winston-Salem-NC/41708021/
• 2799 N 22nd St, Decatur, IL 62526: https://www.loopnet.com/Listing/2799-N-22nd-St-Decatur-IL/41708000/
• 609 Chemung St, Horseheads, NY 14845: https://www.loopnet.com/Listing/609-Chemung-St-Horseheads-NY/41707996/
• 2810 Florida 71, Marianna, FL 32446: https://www.loopnet.com/Listing/2810-Florida-71-Marianna-FL/41707992/
• 800 US-67, Walnut Ridge, AR 72476: https://www.loopnet.com/Listing/800-US-67-Walnut-Ridge-AR/41791721/
• 1411 E 2nd St, Jamestown, NY 14701: https://www.loopnet.com/Listing/1411-E-2nd-St-Jamestown-NY/41708006/
The subject site benefits from over 200 feet of direct frontage along Griswold Road and 200 feet along Leona Road. The corner parcel is highly visible and easily accessible, sitting at its own signalized intersection, and just off the Griswold Road and Lorain Boulevard interchange. A handful of shopping centers surround the site, such as River Street Square, Midway Point Shopping Center, the Shoppes of Midway, and Midway Market Square. This, in addition to freestanding commercial businesses, drives spending, traffic, and synergy in the area. National neighbors include The Home Depot, Target, Planet Fitness, Best Buy, Lowe’s, and PetSmart.
Elyria is a small riverside city just outside Downtown Cleveland and offers regional attractions like Lake Erie, a small-town environment, and large employers such as UH Elyria Medical Center and Lorain County. With interstates 80 and 90 running through the north end of town, residents are roughly 30 miles from downtown Cleveland and 52 miles from Akron. Interstate 80 also connects to New York City, 475 miles to the east.
10-mile demographics indicate a growing population of 314,216 residents and over 126,520 households. The average household income exceeds $103,000, and the realm generates a robust spending power of more than $3.9 billion each year. Food and beverage, transportation and maintenance, and household goods are the three largest spending categories.
Cleveland is a large, mature Midwest market defined by economic stability. Located in northeast Ohio, the five-county region is home to roughly 2.2 million residents and serves as a central hub for healthcare, manufacturing, and institutional employment. The metro continues to generate steady job growth supported by a diversified employment base and substantial industrial infrastructure.
Ownership has additional listings; please see all available listing URLs here:
• 1800 36th Ave, Moline, IL 61265: https://www.loopnet.com/Listing/1800-36th-Ave-Moline-IL/41708014/
• 2920 NE Adams St, Peoria, IL 61603: https://www.loopnet.com/Listing/2920-NE-Adams-St-Peoria-IL/38476259/
• 1050 Valley St, Minerva, OH 44657: https://www.loopnet.com/Listing/1050-Valley-St-Minerva-OH/33910057/
• 3034 Mahoning Ave, Youngstown, OH 44509: https://www.loopnet.com/Listing/3034-Mahoning-Ave-Youngstown-OH/41316602/
• 5416 Ridge Ave, Cincinnati, OH 45213: https://www.loopnet.com/Listing/5416-Ridge-Ave-Cincinnati-OH/41708026/
• 7844 North Point Blvd, Winston-Salem, NC 27106: https://www.loopnet.com/Listing/7844-North-Point-Blvd-Winston-Salem-NC/41708021/
• 2799 N 22nd St, Decatur, IL 62526: https://www.loopnet.com/Listing/2799-N-22nd-St-Decatur-IL/41708000/
• 609 Chemung St, Horseheads, NY 14845: https://www.loopnet.com/Listing/609-Chemung-St-Horseheads-NY/41707996/
• 2810 Florida 71, Marianna, FL 32446: https://www.loopnet.com/Listing/2810-Florida-71-Marianna-FL/41707992/
• 800 US-67, Walnut Ridge, AR 72476: https://www.loopnet.com/Listing/800-US-67-Walnut-Ridge-AR/41791721/
• 1411 E 2nd St, Jamestown, NY 14701: https://www.loopnet.com/Listing/1411-E-2nd-St-Jamestown-NY/41708006/
Offering Memorandum Click Here to Access
Data Room Click Here to Access
- Offering Memorandum
- Operating and Financials
- Purchase Agreement
- Title and Insurance
- Miscellaneous
Property Facts
| Property Type | Land | Total Lot Size | 1.00 AC |
| Property Subtype | Commercial | Sale Condition | Auction Sale |
| Sale Type | Investment | Type of Ownership | Fee Simple |
| Zoning | B-G - Business General District | ||
| Property Type | Land |
| Property Subtype | Commercial |
| Sale Type | Investment |
| Total Lot Size | 1.00 AC |
| Sale Condition | Auction Sale |
| Type of Ownership | Fee Simple |
| Zoning | B-G - Business General District |
1 Lot Available
Lot
| Lot Size | 1.00 AC | Parcel Number | 06-23-016-101-052 |
| Lot Size | 1.00 AC |
| Parcel Number | 06-23-016-101-052 |
1.0-acre lot at a signalized intersection location, benefitting from dual frontage opportunities and prominent commercial synergy.
Somewhat walkable
30/100
Exceptionally drivable
100/100
Fairly bikeable
40/100
Sale Advisors
Sale Advisors
Christopher Seelig, Senior Vice President
Chris Seelig is a Senior Vice President and Principal with Colliers International, a global real estate organization with more than 450 offices worldwide.
Mr. Seelig, who joined Colliers International in 2013, oversees the Retail Services Group at the Cleveland office. Specializing in retail tenant representation, landlord representation and restaurant leasing throughout Ohio, Chris has personally participated in and managed over 350 sale and lease transactions, with an aggregate value in excess of $150 million. With more than 18 years of experience representing both landlords and tenants, Chris has handled assignments throughout Ohio and the Midwest. His experience includes investment sales, land assemblage, corporate dispositions, REO properties, zoning and development.
He began his real estate career in 1999 at NAI Ronald Markowitz Real Estate, and then went on to serve as Director of Retail Services at NAI Daus Commercial Real Estate.
Prior to his real estate career, Mr. Seelig was a General Manager for Houlihan's Restaurants.
Mr. Seelig, who joined Colliers International in 2013, oversees the Retail Services Group at the Cleveland office. Specializing in retail tenant representation, landlord representation and restaurant leasing throughout Ohio, Chris has personally participated in and managed over 350 sale and lease transactions, with an aggregate value in excess of $150 million. With more than 18 years of experience representing both landlords and tenants, Chris has handled assignments throughout Ohio and the Midwest. His experience includes investment sales, land assemblage, corporate dispositions, REO properties, zoning and development.
He began his real estate career in 1999 at NAI Ronald Markowitz Real Estate, and then went on to serve as Director of Retail Services at NAI Daus Commercial Real Estate.
Prior to his real estate career, Mr. Seelig was a General Manager for Houlihan's Restaurants.
Lauren White, Vice President
Lauren White is a Vice President with Colliers, a global real estate organization with more than 450 offices worldwide. Ms. White has 12 years of experience in the commercial real estate industry with time spent in landlord and tenant representation, property management, and development. Lauren’s primary focus is landlord representation, working with valued clients to strategically market their properties and stabilize assets throughout northeast Ohio. Lauren also spends time on key tenant accounts, assisting with market rollout and multi-site acquisition strategies and supporting the transaction process from start to finish. In her time at Colliers, Lauren has been actively involved in more than 380 transactions with an aggregate value of over $300 million.
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Auction Contact
Molly Patten
Contact
Auctioneer License:
Ten-X Commercial, LLC Samantha Corbat RE Brkr REC.2019003563; Ohio Department of Agriculture- Auctioneer Program: Ten-X Commercial, Inc. (Ten-X, Inc.) Auctioneer Corporation 2022000147 Samantha Corbat Auctioneer 2023000126
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3% Transaction Fee
Based on Winning Bid Amount
Minimum Transaction Fee
$20,000
Maximum Transaction Fee
$300,000
Example Calculation
Winning Bid Amount
$5,000,000
Transaction Fee
$150,000 (3%)
Total Purchase Price
$5,150,000
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Former McDonald's Site | 661 Griswold Rd
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