111 Center StLaGrange, OH 44050

Property Details for 111 Center St

Year built

1900

Construction

FRAME

Lot size

0.11 AC

Property size (Sq ft)

1,784 SF

Property type

Retail properties

Property subtype

Retail space

APN

15-00-056-103-014

APU

1500056103014

Description

This exceptional 1,784 square foot commercial property presents a remarkable opportunity for entrepreneurs seeking a high-visibility location in the heart of LaGrange, Ohio. Situated on a 0.62-acre lot, this strategically positioned building boasts frontage on South Center Street and extends through to Pleasant Street, ensuring maximum exposure to potential customers. The property's zoning designation as Central Business further enhances its commercial viability. The building's history includes a long-standing presence as a carry-out and craft store, demonstrating its suitability for a variety of retail or service-based businesses. Recent significant updates have been completed, including a new roof, siding, windows, furnace, air conditioning system, doors, and exterior stairway, minimizing immediate capital expenditure needs for the new owner. The second floor offers ample storage space, adding to the property's functionality. Its convenient location provides easy access to major transportation routes, with Interstate 10/480 just five minutes away. The property is available for immediate possession, allowing for a swift and seamless transition into your new business venture. This is an exceptional opportunity to establish a thriving business in a vibrant and accessible location.

• CAP approach

  CAP return

  Valuation

  6%

  $497,147

  6.5%

  $458,905

  7%

  $426,126

• Comparable approach

  Method

  Valuation

  Relative Method

  $420,526

  Geo Method

  $420,526

• Alternative Use

  Use

  Valuation

  Residential

  $387,103

  Hospitality

  $354,585

  Educational

  $295,010

  Medical

  $305,156

  Retail

  $458,905

Location Insight

City

Lagrange

County

Lorain

State

Ohio

Latitude

41.2364

Longitude

-82.1201

CBSA code

17460

CBSA name

CLEVELAND-ELYRIA-MENTOR, OH METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

FAQs

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