160 Chestnut StRavenna, OH 44266

Property Details for 160 Chestnut St

Year built

1890

Construction

FRAME

Lot size

0.37 AC

Property size (Sq ft)

2,756 SF

Property type

Office properties

Property subtype

Office buildings

APN

31-349-04-00-304

APU

313490400304

Description

This stunning 1840s-era, 2-story retail building at 160 N Chestnut Street in Ravenna, Ohio, offers 2,756 square feet of versatile space. Recently renovated to reflect its historical charm, it features a large foyer, two spacious meeting rooms, a smaller office, a sunroom, and a catering kitchen. The first floor is ideal for retail, office, or event space use, having previously served as a successful event venue. Upstairs, a leased two-bedroom, one-bathroom apartment with a modern kitchen boasts granite countertops and updated cabinets, providing additional income potential. The property includes a 0.372-acre lot with a 12-car parking lot and a one-car attached garage. Recent upgrades include solar panels, new paving, fencing, roof, furnace, and A/C. Zoned Commercial (Central Business District) with a conditional use permit for the apartment, this property presents endless possibilities for a savvy investor. The property's rich history and modern amenities combine to create a unique and highly desirable commercial opportunity. Located in Portage County, Ohio, with easy access to local amenities and transportation, this property is priced at $279,900. The APN is 31-349-04-00-304-000.

• CAP approach

  CAP return

  Valuation

  6%

  $524,128

  6.5%

  $483,811

  7%

  $449,253

• Comparable approach

  Method

  Valuation

  Relative Method

  $257,796

  Geo Method

  $257,796

• Alternative Use

  Use

  Valuation

  Residential

  $599,925

  Hospitality

  $549,528

  Educational

  $457,201

  Medical

  $472,925

  Retail

  $711,202

Location Insight

City

Ravenna

County

Portage

State

Ohio

Latitude

41.1597

Longitude

-81.2426

CBSA code

10420

CBSA name

AKRON, OH METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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