7 Main StMarengo, OH 43334

Property Details for 7 Main St

Year built

1920

Lot size

0.06 AC

Property size (Sq ft)

1,560 SF

Property type

Office properties

Property subtype

Office buildings

APN

A45-002-00-009-00

APU

A450020000900

Description

This unique commercial property, located at 7 E Main Street in Marengo, Ohio, presents a rare business opportunity. The building, formerly the Sparta General Store, boasts 3,630 square feet of retail space and storage, situated on a 3,484.8 square foot lot. The asking price is $50,000, translating to $13.77 per square foot. It's being sold "AS IS, WHERE IS." Potential buyers should be aware that a lawsuit has been filed against the owner for back taxes and unpaid utility bills. Additionally, underground gas tanks require remediation to meet oil/gas regulations. The seller is currently working to address these compliance issues. This property offers significant potential for redevelopment or repurposing, but requires due diligence regarding the existing legal and environmental concerns. Please review all attached documentation for complete details. Note that an additional 0.59-acre parcel is available for separate purchase. The property's address is 7 E Main Street, Marengo, OH 43334.

• CAP approach

  CAP return

  Valuation

  6%

  $293,827

  6.5%

  $271,225

  7%

  $251,852

• Comparable approach

  Method

  Valuation

  Relative Method

  $145,922

  Geo Method

  $145,922

• Alternative Use

  Use

  Valuation

  Residential

  $336,319

  Hospitality

  $308,066

  Educational

  $256,308

  Medical

  $265,122

  Retail

  $398,701

Location Insight

City

Marengo

County

Morrow

State

Ohio

Latitude

40.4013

Longitude

-82.8112

CBSA code

18140

CBSA name

COLUMBUS, OH METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

FAQs

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