227 Main StWest Jefferson, OH 43162

Property Details for 227 Main St

Year built

1950

Lot size

0.44 AC

Property size (Sq ft)

2,520 SF

Property type

Retail properties

Property subtype

Auto shops

APN

10-00355.000

APU

1000355000

Description

This exceptional redevelopment opportunity presents a 2,520-square-foot retail building situated on a 0.44-acre lot in West Jefferson, Ohio. Located at 227 E Main Street, this property boasts a highly desirable location on a major traffic corridor, experiencing approximately 16,396 cars daily in 2023. The existing structure, built in 1950, currently functions as an auto and truck repair facility, but offers significant potential for redevelopment. The property is zoned for commercial use and includes 2,520 square feet of air rights. The building is a two-story structure with one unit, currently vacant. This presents a blank canvas for a variety of retail ventures, capitalizing on its proximity to established businesses such as Family Dollar and McDonald's. The asking price is $1,195,000, translating to $474.21 per square foot. This is a prime opportunity for investors seeking a high-traffic location with significant redevelopment potential in a thriving retail area. The property is being sold as-is. Please do not disturb the occupant. The parcel number is 10-00355.000.

• CAP approach

  CAP return

  Valuation

  6%

  $568,966

  6.5%

  $525,199

  7%

  $487,685

• Comparable approach

  Method

  Valuation

  Relative Method

  $594,016

  Geo Method

  $594,016

• Alternative Use

  Use

  Valuation

  Residential

  $443,025

  Hospitality

  $405,809

  Educational

  $337,628

  Medical

  $349,240

  Retail

  $525,199

Location Insight

City

West Jefferson

County

Madison

State

Ohio

Latitude

39.9449

Longitude

-83.2626

CBSA code

18140

CBSA name

COLUMBUS, OH METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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