505 Hocking StLancaster, OH 43130

Property Details for 505 Hocking St

Year built

1973

Construction

STEEL FRAME

Lot size

0.17 AC

Property size (Sq ft)

4,260 SF

Property type

Day care centers & nurseries

APN

053-11467.00

APU

531146700

Description

This exceptional 4,260-square-foot special purpose building, situated on a 7,405.2-square-foot lot in Lancaster, Ohio, presents a unique investment opportunity. Built in 1973 and renovated in 1980, the property boasts a desirable location at 505 Hocking Street, 43130. The building features four separate areas, each with its own exterior entrance and bathroom, providing excellent flexibility for a variety of uses. A private office is located at the front of the building. The property includes a large fenced area with a blacktop drive and additional blacktop space adjacent to the building's rear entrances. Ideal for uses such as a daycare center, doggie daycare, office space, or even a veterinary office with a surgery center. Recent improvements include the replacement of three heat pumps within the last ten years and newer flooring throughout the building. The roof is approximately ten years old. Three parcels are included in this sale, adding significant value to the property. The asking price is $250,000, representing a price per square foot of $58.69. This property offers a compelling combination of functionality, location, and recent upgrades, making it an attractive investment prospect.

• CAP approach

  CAP return

  Valuation

  6%

  $724,851

  6.5%

  $669,093

  7%

  $621,300

• Comparable approach

  Method

  Valuation

  Relative Method

  $458,252

  Geo Method

  $458,252

• Alternative Use

  Use

  Valuation

  Residential

  $848,772

  Hospitality

  $777,471

  Educational

  $646,847

  Medical

  $669,093

  Retail

  $1,006,206

Location Insight

City

Lancaster

County

Fairfield

State

Ohio

Latitude

39.7193

Longitude

-82.6107

CBSA code

18140

CBSA name

COLUMBUS, OH METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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