4611 Park AveAshtabula, OH 44004

Property Details for 4611 Park Ave

Year built

1969

Construction

WOOD

Lot size

0.32 AC

Property size (Sq ft)

11,100 SF

Property type

Retail space

APN

05-215-00-014-00

APU

52150001400

Description

This exceptional 11,100 square foot retail property at 4611 Park Avenue in Ashtabula, Ohio, presents a remarkable investment opportunity. Currently operating as Gage's Furniture Store, this building boasts a wide-open floor plan ideal for a variety of uses. The expansive finished basement, featuring impressive 12-foot ceilings, offers significant additional space easily adaptable into a gym, office space, or other commercial ventures. The main level includes convenient amenities such as multiple offices/meeting rooms, two generously sized restrooms, and a practical kitchenette. A significant advantage is the attached one-bay loading area, complete with a 12-foot overhead door, facilitating efficient loading and unloading. Parking is readily available, with the parcel of land directly north of the building included in the sale. The property benefits from recent upgrades, including a four-year-old roof on the main building and a brand-new furnace in the lower level, ensuring long-term cost-effectiveness and minimal maintenance. Situated near Main Avenue in downtown Ashtabula, this 0.51-acre property offers high visibility and accessibility, making it an attractive proposition for discerning investors seeking a versatile and well-maintained commercial space. The building's solid construction and substantial square footage provide ample room for expansion and customization, catering to a wide range of business needs. This is a truly unique opportunity to acquire a substantial and well-located commercial property in a thriving downtown area.

• CAP approach

  CAP return

  Valuation

  6%

  $2,935,427

  6.5%

  $2,709,625

  7%

  $2,516,080

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,616,501

  Geo Method

  $2,616,501

• Alternative Use

  Use

  Valuation

  Residential

  $2,285,670

  Hospitality

  $2,093,661

  Educational

  $1,741,902

  Medical

  $1,801,808

  Retail

  $2,709,625

Location Insight

City

Ashtabula

County

Ashtabula

State

Ohio

Latitude

41.8657

Longitude

-80.7843

CBSA code

11780

CBSA name

ASHTABULA, OH MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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