For Sale
$236,000

241 State StSalem, OH 44460

High-return, fully leased multi-tenant building.

Overview

Added:
Dec 11, 2024
Days on market:
114
This exceptional mixed-use investment opportunity presents a fully leased, three-story building at 241 E State St, Salem, OH 44460. The 7,347 square foot property, built in 1930, boasts a compelling blend of commercial and residential space, currently operating at 100% occupancy. The ground floor comprises a leased retail storefront, formerly known as the Salem Trading Post, offering excellent street-level visibility and access. Above, the second floor features two separately rented apartment units, while the third floor houses a single studio apartment. The building benefits from convenient front parking and additional public parking directly across the street. With four tenants currently in place, this property provides a stable income stream, offering a price per square foot of $32.12 and an asking price of $236,000. The property is zoned for commercial use and includes a full basement, adding further potential for expansion or adaptation. This is a rare chance to acquire a well-maintained, historically significant building in a thriving downtown location. The strong tenancy and high occupancy rate make this an attractive investment for both seasoned and new investors seeking a stable and profitable venture. The property's versatile layout and prime location offer significant long-term growth potential.

Highlights

  • $236,000 asking price for a 7,347 SF mixed-use building.
  • 100% occupancy with four tenants.
  • Located at 241 E State St, Salem, OH 44460.
  • Features three stories, including ground floor retail and upper-floor apartments.
  • Built in 1930, with Commercial zoning.

Property Details for 241 State St

Property type
Retail properties, Mixed-use properties
Square Feet
7,347 SF
Year Built
1930
Stories
3

Location Insight

City
Salem
County
Columbiana
State
Ohio
Latitude
40.9007522
Longitude
-80.8557468
241 State St, Salem, Ohio

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?
Please email our support team at [email protected] and they will add the team member.
How do I access a private listing?
Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.
How can I contact the broker?
We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.
How do I unsubscribe from emails?
At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].
241 State St
Thanks! Your message was sent.
Error! Your message wasn't sent.
Please enter your first name
Please enter your last name
Please enter email
Please enter the email in the correct format
Please enter phone
Please enter the number in the correct format
Select size
Please enter message