1955 Lancaster Newark RdLancaster, OH 43130

Property Details for 1955 Lancaster Newark Rd

Year built

2005

Construction

STEEL FRAME

Lot size

1.00 AC

Property size (Sq ft)

2,389 SF

Property type

Healthcare properties

Property subtype

Medical offices

APN

027-00377.00

APU

270037700

Description

This impeccably maintained commercial building, located at 1955 Lancaster Newark Road NE in Lancaster, OH, presents a unique opportunity for business owners. Boasting 2,389 square feet of space, this property sits on a generous 1.88-acre lot encompassing two parcels. Previously used as a family medical practice, the building retains its historical character with preserved exposed brick walls in the reception area, yet has been thoughtfully updated for modern functionality. The interior features spacious patient rooms (or adaptable office spaces), private offices, a staff kitchen, two bathrooms, and a lab/office area. A full, walk-out basement provides additional storage or expansion potential. Exterior features include a brick walkway, 15 paved parking spaces, handicap-accessible building access, and additional gravel parking. The property benefits from a fantastic location on a state route, ensuring high traffic counts, excellent visibility, and convenient parking lot access. This versatile space is ideal for a variety of businesses, offering the charm of a historic building with the practicality of modern amenities. The property is priced at $569,900.

• CAP approach

  CAP return

  Valuation

  6%

  $415,852

  6.5%

  $383,863

  7%

  $356,444

• Comparable approach

  Method

  Valuation

  Relative Method

  $223,467

  Geo Method

  $223,467

• Alternative Use

  Use

  Valuation

  Residential

  $475,990

  Hospitality

  $436,004

  Educational

  $362,750

  Medical

  $375,226

  Retail

  $564,278

Location Insight

City

Lancaster

County

Fairfield

State

Ohio

Latitude

39.7521

Longitude

-82.5842

CBSA code

18140

CBSA name

COLUMBUS, OH METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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