2825 Ridge RdAshtabula, OH 44004

Property Details for 2825 Ridge Rd

Year built

2003

Construction

CONCRETE BLOCKS

Lot size

3.17 AC

Property size (Sq ft)

51,416 SF

Property type

Strip malls

Property subtype

Neighborhood centers

APN

03-012-00-075-00

APU

30120007500

Description

Plaza East, a 47,615 square foot shopping center in Ashtabula, Ohio, is available for $3,250,000. Built in 2003, this multi-tenant property currently boasts 68% occupancy across 10 units. The property features several turnkey medical office suites, previously occupied by a surgery center and dermatology practice, making it ideal for medical office users or owner-users. Its tenant mix is largely service-based and food-related, providing resilience against online competition. Priced at $72 per square foot, it's significantly below replacement cost. The strong tenant synergy and prime location within Ashtabula's main retail corridor, shadowing Ashtabula Towne Square and near major retailers like Lowe's, Walmart, and Home Depot, ensures high visibility and foot traffic. The property offers significant value-add potential

• CAP approach

  CAP return

  Valuation

  6%

  $13,597,109

  6.5%

  $12,551,178

  7%

  $11,654,665

• Comparable approach

  Method

  Valuation

  Relative Method

  $12,119,821

  Geo Method

  $12,119,821

• Alternative Use

  Use

  Valuation

  Residential

  $10,587,388

  Hospitality

  $9,697,991

  Educational

  $8,068,614

  Medical

  $8,346,106

  Retail

  $12,551,178

Location Insight

City

Ashtabula

County

Ashtabula

State

Ohio

Latitude

41.8774

Longitude

-80.7589

CBSA code

11780

CBSA name

ASHTABULA, OH MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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