1071 Us Highway 68Urbana, OH 43078

Property Details for 1071 Us Highway 68

Year built

1960

Lot size

0.29 AC

Property size (Sq ft)

1,118 SF

Property type

Office properties

Property subtype

Office buildings

APN

K48-25-11-02-31-012-00

APU

K482511023101200

Description

This exceptional mixed-use property in Urbana, Ohio presents a unique investment opportunity. Strategically positioned at the high-traffic intersection of US Highway 68 and State Route 55, this 2.53-acre site offers significant development potential. The property comprises three parcels, including 1071, 1075, and 1077 S. Main Street. The main parcel, 1071 S. Main Street, boasts 1,118 square feet of office space complemented by two single-car garage bays, providing immediate income potential or flexible workspace. Additionally, 1075 S. Main Street features a 2-bedroom, 1-bathroom rental home spanning 896 square feet. The third parcel, 1077 S. Main Street, encompasses a substantial portion of the acreage and includes an older 28x20 garage and a 440-square-foot home that is currently uninhabitable due to a previous fire. This presents a blank canvas for redevelopment or expansion. The combined properties offer a versatile blend of existing structures and ample land, ideal for a variety of commercial ventures or redevelopment projects. The high visibility and prime location ensure strong potential for future growth and return on investment. This is a rare opportunity to acquire a substantial property in a thriving Ohio community. The property is priced at $349,000.

• CAP approach

  CAP return

  Valuation

  6%

  $214,527

  6.5%

  $198,025

  7%

  $183,880

• Comparable approach

  Method

  Valuation

  Relative Method

  $22,013

  Geo Method

  $22,013

• Alternative Use

  Use

  Valuation

  Residential

  $245,551

  Hospitality

  $224,923

  Educational

  $187,134

  Medical

  $193,569

  Retail

  $291,097

Location Insight

City

Urbana

County

Champaign

State

Ohio

Latitude

40.0934

Longitude

-83.7543

CBSA code

46500

CBSA name

URBANA, OH MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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