1 Riley StMount Vernon, OH 43050

Property Details for 1 Riley St

Year built

1940

Construction

FRAME

Lot size

0.21 AC

Property size (Sq ft)

480 SF

Property type

Retail properties

Property subtype

Retail space

APN

66-03820.000

APU

6603820000

Description

This exceptional mixed-use property at 1 and 3 Riley Street in Mount Vernon, Ohio, presents a unique investment opportunity. The property, situated on a corner lot spanning 11,325.6 square feet (.2574 acres), boasts high visibility in a desirable South Mount Vernon location. The main commercial building offers over 1,456 square feet of space, ideal for a variety of businesses. Zoned General Business, this building provides ample room for operations and potential expansion. In addition to the commercial space, the property includes a charming small ranch home featuring one bedroom, one bathroom, a living room, dining area, and kitchen. This residential component offers potential rental income, adding to the overall investment value. Built in 1900, the property is priced competitively at $165,000, with a price per square foot of $85.23 based on the 1,456 square feet of commercial space. The total net rentable square footage is 1,936 square feet, offering further potential for income generation. This property is a rare find, combining commercial and residential uses in a prime location, making it an attractive proposition for savvy investors seeking a blend of income streams and potential for growth. The property's location in Mount Vernon, Ohio, and its General Business zoning provide a solid foundation for long-term success.

• CAP approach

  CAP return

  Valuation

  6%

  $134,189

  6.5%

  $123,867

  7%

  $115,019

• Comparable approach

  Method

  Valuation

  Relative Method

  $113,146

  Geo Method

  $113,146

• Alternative Use

  Use

  Valuation

  Residential

  $104,486

  Hospitality

  $95,709

  Educational

  $79,629

  Medical

  $82,367

  Retail

  $123,867

Location Insight

City

Mount Vernon

County

Knox

State

Ohio

Latitude

40.378

Longitude

-82.4829

CBSA code

34540

CBSA name

MOUNT VERNON, OH MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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