44 Columbus StLithopolis, OH 43136

Property Details for 44 Columbus St

Year built

1900

Construction

STEEL FRAME

Lot size

0.25 AC

Property size (Sq ft)

4,782 SF

Property type

Investment properties

Property subtype

Live-work space

APN

010-02128.00

APU

100212800

Description

This exceptional investment opportunity presents a 3,000 square foot retail building located at 44 E Columbus St, Lithopolis, OH 43136. The property, situated on a 0.25-acre lot (APN: 01-00212-800), is zoned C (Commercial) and boasts a strong 85% occupancy rate across multiple tenants. The building underwent a complete renovation in 2016 and currently generates a total annual rental income of $70,440. This includes a restaurant generating $35,040 annually, and two apartments, one at $10,200 and the other at $13,200 annually, plus an additional $12,000 annual income from a rear building. The restaurant tenant, El Pedregal Mexican Restaurant, is currently operating under a NNN lease with five years remaining. Both apartments are two-bedroom, one-bathroom units with annual leases. The property's asking price is $1,150,000, representing a compelling 4.60% cap rate. Annual real estate taxes of $3,831 are paid by the building owner. This property offers a stable income stream with potential for future growth in a desirable location. The building is in excellent condition and benefits from strong, long-term tenants. This is an ideal investment for those seeking a diversified portfolio with a proven track record of success.

• CAP approach

  CAP return

  Valuation

  6%

  $832,399

  6.5%

  $768,369

  7%

  $713,485

• Comparable approach

  Method

  Valuation

  Relative Method

  $447,308

  Geo Method

  $447,308

• Alternative Use

  Use

  Valuation

  Residential

  $952,777

  Hospitality

  $872,739

  Educational

  $726,108

  Medical

  $751,080

  Retail

  $1,129,502

Location Insight

City

Lithopolis

County

Fairfield

State

Ohio

Latitude

39.8035

Longitude

-82.8073

CBSA code

18140

CBSA name

COLUMBUS, OH METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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