Elyria, OH
Commercial Real Estate Market Trends & Data

$130 Avg asking sale price
$12 Avg asking lease rate
41,038 SF Avg unit lease size
26,686 SF Avg building size for sale
9.13% Average cap rate

Elyria's Demographic Profile

Elyria has 23,857 households and a median income of $47,629, providing context for rent absorption and tenant demand across retail and multifamily assets. A +4% five-year population trend is a key signal for evaluating long-term demand in this market.

Key Demographic Metric Value
Population 54,572
# Households 23,857
Median age 42
Median household income $47,629
Avg household size 2.0
Renter-occupied housing units 9,981
5-year population change +4%

{{marketTabHeadings[activeMarketTab]}} Market Metrics Near Elyria, OH

↻ Updated Monthly

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Nearby Office Markets Avg Cost/SF Typical Size Cap Max
Elyria $186 16,934 SF 11.94%
North Ridgeville $206 5,432 SF 7.00%
Lorain $87 5,297 SF 10.00%
Sheffield $245 6,084 SF 7.00%
Nearby Retail Markets Avg Cost/SF Typical Size
Elyria $80 56,589 SF
North Ridgeville $145 2,235 SF
Lorain $197 20,890 SF
Sheffield $106 11,312 SF
Amherst $736 20,000 SF
Nearby Multifamily Markets Avg Cost/SF Typical Size Cap Max
Lorain $48 14,227 SF 9.24%
Brooklyn $77 7,319 SF 12.39%

Commercial Properties For Sale in Elyria

The listings below reflect how current market pricing and building scale translate into active opportunities available today.
For Sale

5311 Meadow Lane Ct

Sheffield Village, OH 44035

  • 1,307 SF Office Building
  • $140,000
For Sale

Take 5 Oil Change

Elyria, OH 44035

  • 1,683 SF Office Building
  • 6.00% Cap Rate
  • $2,000,000
For Sale

11233 Lagrange Rd

Elyria, OH 44035

  • 11,912 SF Specialty
  • $795,000
For Sale

19 Unit Elyria/Lorain Portfolio

  • 10.52% Cap Rate
  • $1,600,000
For Sale

201 Williams St

Elyria, OH 44035

  • 35,576 SF Industrial Building
  • $675,000
For Sale

625-627-633 Broad Street, Elyria

Elyria, OH 44035

  • 12,420 SF Office Building
  • 11.94% Cap Rate
  • $1,600,000

Average Price For Sale

↻ Updated Monthly

Average Price For Lease

↻ Updated Monthly

Number of Listings

↻ Updated Monthly

Cap Rate

↻ Updated Monthly

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Nearby Commercial Markets

Comparing nearby markets helps investors see whether Elyria pricing and building scale sit above, below, or in line with surrounding areas.

Commercial Markets Avg Cost/SF Average Size
Elyria $130 26,686 SF
North Ridgeville $235 4,578 SF
Lorain $97 16,628 SF
Sheffield $204 6,852 SF
Sheffield Village $107 1,307 SF

Regional Demographic Comparison

This comparison places Elyria alongside nearby cities to show how population size, household counts, and income levels differ across the region. Viewing these markets side by side helps investors understand whether local demand and income characteristics are concentrated in Elyria or distributed across surrounding areas.

City Population # Households Age Median Household Income Avg Household Size Renter Occupied Housing Units Five Yr Pop Growth %
Elyria 54,572 23,857 42 $47,629 2 9,981 4%
North Ridgeville 36,867 14,749 45 $85,475 3 1,627 4%
Lorain 69,497 28,363 40 $43,775 2 12,742 5%
Sheffield 4,455 1,894 51 $88,333 2 605 5%

Disclaimer: The figures on this page reflect LoopNet's active commercial listings in Elyria, OH and update as inventory changes. Averages can shift between periods or vary across property types depending on the mix of listings available at a given time, so individual metrics may not reflect broader market trends. These figures are best used as directional benchmarks for early market evaluation. For comprehensive commercial real estate data and analytics, subscribe to CoStar.

FAQs About Commercial Investing in Elyria

View All Commercial Real Estate For Sale in Elyria
Is Elyria a good market for a first-time commercial real estate investor?

Elyria offers commercial properties across a wide range of sizes and price points. By reviewing the market data and benchmarks on this page, first-time investors can better understand what a typical commercial property looks like before committing capital and narrowing in on specific listings.

How can this market data help me decide whether to buy commercial property for my business in Elyria?

The pricing and size metrics on this page help business owners compare the cost of ownership against leasing in Elyria. Typical building sizes and asking prices provide a starting point for evaluating space needs, budget fit, and long term occupancy costs before engaging lenders or brokers.

What should conservative investors focus on when evaluating commercial properties in Elyria?

Conservative investors often prioritize manageable deal sizes, stable pricing ranges, and cap rate benchmarks shown for Elyria. These metrics help assess whether current market conditions support steady income potential without relying on aggressive assumptions.

How does Elyria compare to nearby commercial real estate markets?

Nearby market comparisons highlight differences in pricing, building scale, and cap rate ranges relative to Elyria. Reviewing these side by side helps experienced investors identify relative value, pricing premiums, or alternative markets that may better align with return targets.

How can this page support early-stage deal screening for Elyria acquisitions?

This page provides high-level benchmarks for pricing, deal size, and observed cap rates in Elyria, which are useful for initial market filtering. Institutional and data-driven investors often use these signals to prioritize listings that meet size, pricing, and return thresholds before deeper underwriting.

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