701 Main StDresden, OH 43821

Property Details for 701 Main St

Year built

1925

Lot size

0.20 AC

Property size (Sq ft)

11,574 SF

Property type

Showrooms

APN

33-30-10-01-000

APU

33301001000

Description

This exceptional 23,175 square foot mixed-use building at 701 Main Street, Dresden, OH, presents a unique investment opportunity. Situated on a 0.2-acre lot, this three-story property boasts significant historical charm and modern conveniences. The first floor, retaining much of its original woodwork and trim, is currently home to several small businesses, including a soon-to-open deli, a nail salon, a massage salon, and a photography studio. A fitness center also occupies space within the building. The second floor is partially renovated, offering immediate occupancy potential, while the expansive third floor provides a blank canvas for future development. Both passenger and freight elevators service all three floors, enhancing accessibility and functionality. The building's rich history includes a past life as a hotel, and a later expansion by The Longaberger Company, which added a three-story addition and the elevators, anticipating future growth. This versatile property offers immense potential for a variety of uses, including an event center, residential conversion, or expansion of existing businesses. Priced at $650,000, this is a rare chance to acquire a substantial commercial property in a desirable location with significant upside potential. The current multi-tenant setup provides immediate income generation, while the substantial space and flexible layout allow for significant future expansion and adaptation.

• CAP approach

  CAP return

  Valuation

  6%

  $3,235,632

  6.5%

  $2,986,737

  7%

  $2,773,399

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,728,232

  Geo Method

  $2,728,232

• Alternative Use

  Use

  Valuation

  Residential

  $2,519,424

  Hospitality

  $2,307,779

  Educational

  $1,920,045

  Medical

  $1,986,079

  Retail

  $2,986,737

Location Insight

City

Dresden

County

Muskingum

State

Ohio

Latitude

40.122

Longitude

-82.0117

CBSA code

49780

CBSA name

ZANESVILLE, OH MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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