5425 Liberty AveVermilion, OH 44089

Property Details for 5425 Liberty Ave

Year built

1953

Lot size

0.20 AC

Property size (Sq ft)

5,310 SF

Property type

Office properties

Property subtype

Office buildings

APN

18-00023-000

APU

1800023000

Description

This exceptional 5,200 square foot office building is ideally situated in Vermilion, Ohio, at 5425 Liberty Avenue. Boasting excellent visibility directly across from the Vermilion Boat Club and close to the downtown area, this property offers significant advantages for businesses seeking a prominent location. The building is in excellent condition and features a large, lighted sign for maximum brand exposure. Interior updates include bathrooms fully renovated in 2022. The layout includes a spacious conference room, several smaller private offices arranged along a wide central hallway, and a large office area at the rear of the building with convenient rear entry access. Currently, two tenants are under lease agreements extending to 2025, a third tenant is on a month-to-month lease, and the fourth tenant is the current owner. The existing office divisions are easily adaptable, allowing for the creation of larger office spaces as needed to suit a variety of business requirements. Ample parking is provided with five spaces in the rear, supplemented by readily available street parking on Liberty Avenue and Toledo Street. The property sits on a 0.2-acre lot. This turnkey opportunity is priced at $325,000.

• CAP approach

  CAP return

  Valuation

  6%

  $955,269

  6.5%

  $881,786

  7%

  $818,802

• Comparable approach

  Method

  Valuation

  Relative Method

  $496,697

  Geo Method

  $496,697

• Alternative Use

  Use

  Valuation

  Residential

  $1,093,415

  Hospitality

  $1,001,562

  Educational

  $833,288

  Medical

  $861,946

  Retail

  $1,296,226

Location Insight

City

Vermilion

County

Erie

State

Ohio

Latitude

41.4217

Longitude

-82.3625

CBSA code

41780

CBSA name

SANDUSKY, OH METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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