14647 State Route 511Oberlin, OH 44074

  • Land
  • 288 SF
For Sale
$6,500,000 View listing

Property Details for 14647 State Route 511

Year built
1926
Lot size
54.00 AC
Property size (Sq ft)
288 SF
Property type
Land
Property subtype
Mining land
APN
13-11-006-000-014
APU
1311006000014

Description

This exceptional 56-acre industrial property in Oberlin, Ohio, presents a significant investment opportunity. Located on State Route 511, the property boasts a substantial Berea Formation sandstone quarry with an estimated 400 million tons of premium sandstone reserves. Current operations encompass sandstone extraction across 10 acres, producing a diverse range of products including custom-cut sandstone slabs for landscaping and architectural applications, various types of sandstone blocks for erosion control, aggregate stone for various construction uses, and petroleum cores for global oil and gas industry testing. The property also includes a unique spring water asset, with associated water and mineral rights, offering significant additional potential for development and revenue generation. Existing infrastructure includes three buildings: a large 8,400 square-foot building, a smaller 900 square-foot building, and a 412 square-foot office building, providing ample space for operations and administration. The total property size is 9,700 square feet. This turnkey operation offers immediate revenue streams and significant long-term growth potential within both the sandstone and bottled water industries, making it an attractive investment for discerning buyers. The strategic location and diverse product offerings create a compelling opportunity to capitalize on established markets and explore new avenues for expansion. The property's substantial reserves and established infrastructure provide a solid foundation for continued success and profitability. The sale price is $6,500,000.

Valuation
by Paperhouses methods

Valuation date:
Dec 11, 2024
  • Alternative Use

    Use
    Valuation
    Residential
    $62,237
    Hospitality
    $57,009
    Educational
    $47,431
    Medical
    $49,062
    Retail
    $73,781
14647 State Route 511, Oberlin, Ohio

Location Insight

City
Oberlin
County
Lorain
State
Ohio
Latitude
41.2728
Longitude
-82.2961
CBSA code
17460
CBSA name
CLEVELAND-ELYRIA-MENTOR, OH METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2023
$18,555
$98,746
$112,592
$211,338
-
$282,130
$321,690
$603,820

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?
Please email our support team at [email protected] and they will add the team member.
How do I access a private listing?
Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.
How can I contact the broker?
We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.
How do I unsubscribe from emails?
At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].