4861 Ridge RdAshtabula, OH 44004

Property Details for 4861 Ridge Rd

Year built

1974

Lot size

0.80 AC

Property size (Sq ft)

3,348 SF

Property type

Turn key restaurants

APN

48-015-00-054-00

APU

480150005400

Description

This exceptional 2,448 square foot commercial property, situated on a 0.87-acre lot at 4861 N Ridge in Ashtabula, Ohio, presents a unique investment opportunity. Previously operating as a successful family-owned restaurant and pizzeria, this building boasts a rich history and prime location, benefiting from significant traffic from tourists visiting nearby Lake Erie, GOTL, and campgrounds. The property's strategic placement ensures high visibility and consistent customer flow. The interior features a spacious and inviting dining area, well-maintained public restrooms, and a fully functional kitchen equipped with two pizza ovens and walk-in coolers. The building's infrastructure is in excellent condition, with a roof and two gas furnaces less than 10 years old. The property's previous use as a bank adds to its versatility, offering endless possibilities for a variety of commercial ventures. This turnkey operation is ready for immediate occupancy and presents a rare chance to acquire a piece of Ashtabula County history and capitalize on its established commercial potential. The property's size and features make it ideal for a restaurant, but its adaptable layout allows for a wide range of other business uses. This is a remarkable opportunity for an astute investor seeking a profitable and historically significant commercial property. High-quality photos are available online.

• CAP approach

  CAP return

  Valuation

  6%

  $743,966

  6.5%

  $686,738

  7%

  $637,685

• Comparable approach

  Method

  Valuation

  Relative Method

  $325,699

  Geo Method

  $325,699

• Alternative Use

  Use

  Valuation

  Industrial / Distribution

  $1,400,140

  Mixed-Use / Specialty

  $659,668

  Hospitality / Lodging

  $451,921

  Office

  $630,104

  Institutional / Educational

  $676,989

  Residential Income

  $792,077

  Multifamily

  $1,086,470

  Automotive / Energy

  $580,276

  Parking / Income-Based Land

  $224,572

  Restaurant / Food Service

  $290,551

  Healthcare / Senior Housing

  $701,726

Location Insight

City

Ashtabula

County

Ashtabula

State

Ohio

Latitude

41.8379

Longitude

-80.8519

CBSA code

11780

CBSA name

ASHTABULA, OH MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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