318 Orange StConneaut, OH 44030

Property Details for 318 Orange St

Year built

1926

Lot size

0.23 AC

Property size (Sq ft)

2,384 SF

Property type

Retail properties

Property subtype

Auto shops

APN

12-113-00-009-00

APU

121130000900

Description

This exceptional 3-bay automotive repair shop at 318 Orange Street, Conneaut, OH, presents a unique opportunity for a savvy investor. Spanning a 0.23-acre lot, this fully operational business boasts a top-of-the-line setup, ready for immediate operation. The current owners, with over 20 years of experience, have cultivated a substantial and loyal customer base, ensuring a smooth transition for the new owner. The shop features a custom-built front office and waiting area, complete with ample storage and a welcoming atmosphere, providing a comfortable space for client interactions and overlooking the convenient parking lot. The garage is equipped with three lifts, a comprehensive Snap-on diagnostic center, a Snap-on battery charger, a pipe bender with dies, a 10hp plumbed air compressor with hose reel, a Snap-on tire machine and balancer, oil caddies with oil tanks and a pump system, and an alignment machine and rack. The building is equipped with 3-phase electric, mini-split air conditioning units in the office, and a security alarm system. The asking price is $500,000. The current owners are open to assisting with a seamless business transfer, offering valuable continuity and support for the new operator. This is a rare chance to acquire a thriving, established business with significant potential for growth in a desirable location.

• CAP approach

  CAP return

  Valuation

  6%

  $630,456

  6.5%

  $581,959

  7%

  $540,391

• Comparable approach

  Method

  Valuation

  Relative Method

  $561,958

  Geo Method

  $561,958

• Alternative Use

  Use

  Valuation

  Residential

  $490,904

  Hospitality

  $449,666

  Educational

  $374,117

  Medical

  $386,983

  Retail

  $581,959

Location Insight

City

Conneaut

County

Ashtabula

State

Ohio

Latitude

41.9449

Longitude

-80.5622

CBSA code

11780

CBSA name

ASHTABULA, OH MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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