225 East Avenue
Rare Office/Industrial Building with Seller Leaseback Potential
Marketing 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.
Investment 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
- POTENTIAL SALES LEASEBACK VALUE INCOME ($157,056 annual | $13,088/mo) with 5-year term | ±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
Listing Contacts
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