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Journey Inn 888 Lorain Blvd 25 Room Hotel Elyria, OH 44035 $375,000 ($15,000/Room)
Investment Highlights
- High-visibility commercial rehab
- Redevelopment opportunity
Executive Summary
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.
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.
Property Facts
| Price | $375,000 | Lot Size | 0.81 AC |
| Price Per Room | $15,000 | Building Size | 9,968 SF |
| Sale Type | Investment | No. Rooms | 25 |
| Property Type | Hospitality | No. Stories | 2 |
| Property Subtype | Hotel | Year Built | 1978 |
| Building Class | C | Corridor | Exterior |
| Zoning | motels and tourist cabins | ||
| Price | $375,000 |
| Price Per Room | $15,000 |
| Sale Type | Investment |
| Property Type | Hospitality |
| Property Subtype | Hotel |
| Building Class | C |
| Lot Size | 0.81 AC |
| Building Size | 9,968 SF |
| No. Rooms | 25 |
| No. Stories | 2 |
| Year Built | 1978 |
| Corridor | Exterior |
| Zoning | motels and tourist cabins |
Room Mix Information
| Description | No. Rooms | Daily Rate | SF |
|---|---|---|---|
| Guest Room | 25 | $52.00 | - |
1 1
Fairly walkable
40/100
Exceptionally drivable
100/100
Somewhat bikeable
30/100
Property Taxes
| Parcel Number | 06-24-027-116-017 | Improvements Assessment | $78,715 |
| Land Assessment | $31,255 | Total Assessment | $109,970 |
Property Taxes
Parcel Number
06-24-027-116-017
Land Assessment
$31,255
Improvements Assessment
$78,715
Total Assessment
$109,970
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Journey Inn | 888 Lorain Blvd
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