For Sale
$179,000

43 Main StNew London, OH 44851

Mixed-use building, high rental income.

Overview

Added:
Dec 11, 2024
Days on market:
114
This 3,082 sq ft mixed-use building at 43 E Main St, New London, Ohio 44851, presents a compelling investment opportunity. Located in the heart of the Downtown Business district, this two-story, 1900-built structure offers a blend of retail and residential income streams. The main level currently houses a storefront, boasting large windows ideal for attracting foot traffic, and is under lease until May 2025 at $650 per month. Upstairs, three residential units generate additional income: two efficiency apartments rented at $350 each, and a one-bedroom apartment previously rented at $550. The property sits on a 0.03 sq ft lot and features four total units. With a current NOI of $2,150 and an asking price of $179,000, this property offers a 1.20% cap rate. Please allow 48 hours' notice for showings. This sale/leaseback opportunity is perfect for investors seeking a blend of retail and residential income in a thriving downtown location. The property is zoned for Downtown Business district use.

Highlights

  • First-floor space currently leased at $650/month, lease expiring May 2025.
  • Two upstairs efficiency units rented at $350/month each.
  • One-bedroom unit previously rented at $550/month.
  • 48-hour showing notice required.

Property Details for 43 Main St

Property type
Retail properties, Mixed-use properties
Square Feet
3,082 SF
Year Built
1900
Stories
2
Units
4

Location Insight

City
New London
County
Huron
State
Ohio
Latitude
41.0853398
Longitude
-82.3982035
43 Main St, New London, Ohio

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43 Main St
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