111 Main StPleasantville, OH 43148

Property Details for 111 Main St

Year built

1900

Construction

STEEL FRAME

Lot size

0.16 AC

Property size (Sq ft)

4,684 SF

Property type

Retail properties

Property subtype

Retail space

APN

030-02202.00

APU

300220200

Description

This exceptional investment opportunity presents a thriving multi-tenant property located at 111 N Main St, Pleasantville, OH 43148. The property boasts a total of 2,964 square feet situated on a 0.157-acre lot (APN: 0300220200) and is zoned C (Commercial). Currently operating at 100% occupancy, the property generates a substantial annual rental income of $54,000, with a strong 8.5% cap rate. The main tenant is a bar, contributing $36,000 annually to the income stream. Two additional income sources are provided by two 2-bedroom, 1-bathroom apartments, renting for $850 and $650 per month respectively, totaling $18,000 annually. The building underwent a remodel and opened in 2023. The bar's lease is a NNN lease with a remaining term of 5 years (through 2028) and does not include a renewal option. Annual real estate taxes of $3,073 are paid by the building owner. This turnkey investment offers a compelling return and significant upside potential in a desirable location. The property's strong cash flow and high occupancy rate make it an attractive addition to any portfolio. Serious inquiries only.

• CAP approach

  CAP return

  Valuation

  6%

  $1,198,550

  6.5%

  $1,106,354

  7%

  $1,027,329

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,104,116

  Geo Method

  $1,104,116

• Alternative Use

  Use

  Valuation

  Residential

  $933,251

  Hospitality

  $854,853

  Educational

  $711,228

  Medical

  $735,688

  Retail

  $1,106,354

Location Insight

City

Pleasantville

County

Fairfield

State

Ohio

Latitude

39.8089

Longitude

-82.5237

CBSA code

18140

CBSA name

COLUMBUS, OH METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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