45 Lake StDelaware, OH 43015

Property Details for 45 Lake St

Year built

1920

Lot size

0.31 AC

Property size (Sq ft)

14,850 SF

Property type

Office properties

Property subtype

Office buildings

APN

519-431-21-014-000

APU

51943121014000

Description

This exceptional 10,000-square-foot executive office building presents a unique adaptive reuse opportunity in Delaware, Ohio's vibrant downtown. Situated on a 0.307-acre lot (APN 519-431-21-014-000), this historically significant two-story building, constructed in 1862, boasts a charming timber and frame design. Currently 100% occupied as a single-tenant property, the building features tall ceilings, a partially finished lower level with a walk-out access to a sizable rear parking lot, and recently updated restrooms. Significant mechanical and structural improvements have already been completed. The property is zoned Community Business District (B-3), allowing for flexibility in its future use, including potential residential conversion. Its prime location offers easy access to major roadways, including US-23, US-36, OH-37, and I-71. The building's historical character may qualify it for advantageous historic tax credits, presenting a compelling investment opportunity. The asking price is $499,950, translating to $50 per square foot. This is a rare chance to acquire a substantial, well-maintained property in a thriving Ohio community.

• CAP approach

  CAP return

  Valuation

  6%

  $2,810,858

  6.5%

  $2,594,638

  7%

  $2,409,307

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,389,069

  Geo Method

  $1,389,069

• Alternative Use

  Use

  Valuation

  Residential

  $3,217,352

  Hospitality

  $2,947,077

  Educational

  $2,451,934

  Medical

  $2,536,259

  Retail

  $3,814,119

Location Insight

City

Delaware

County

Delaware

State

Ohio

Latitude

40.3

Longitude

-83.0592

CBSA code

18140

CBSA name

COLUMBUS, OH METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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