2825 Ridge RdAshtabula, OH 44004
- Retail properties
- 51,416 SF
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
- Retail properties
- Property subtype
- Strip malls
- 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
Valuation
by Paperhouses methods
- Valuation date:
- Dec 11, 2024
-
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
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
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