201 Reed StSpencer, OH 44275

  • Industrial properties
  • 1,536 SF
For Sale
$699,000 View listing

Property Details for 201 Reed St

Year built
1985
Lot size
1.54 AC
Property size (Sq ft)
1,536 SF
Property type
Industrial properties
Property subtype
Other warehouses
APN
037-27A-05-079
APU
03727A05079

Description

This exceptional investment opportunity presents a fully occupied multi-unit building situated on a substantial 3.43-acre lot in Spencer, Ohio. The property boasts a generous 10,032 square feet of existing rentable space, currently generating over $4,500 per month in rental income. All units are presently leased, demonstrating strong tenant demand and immediate cash flow. The significant acreage offers substantial potential for future development. The expansive land allows for the addition of numerous mini-storage units, flexible commercial spaces, or a variety of other commercial uses, significantly increasing the property's value and rental income. This presents a unique chance to capitalize on existing income while simultaneously expanding the property's revenue streams through strategic development. The property's location in Spencer, OH, offers convenient access to local amenities and transportation routes. This is an ideal investment for those seeking a high-yield, multi-faceted commercial property with significant upside potential. The asking price is $699,000. This represents a compelling opportunity to acquire a profitable, established business with considerable room for growth and expansion. The existing tenant base provides immediate return on investment, while the undeveloped land offers a pathway to long-term appreciation and increased profitability.

Valuation
by Paperhouses methods

Valuation date:
Dec 11, 2024
  • Alternative Use

    Use
    Valuation
    Residential
    $333,295
    Hospitality
    $305,296
    Educational
    $254,003
    Medical
    $262,738
    Retail
    $395,116
201 Reed St, Spencer, Ohio

Location Insight

City
Spencer
County
Medina
State
Ohio
Latitude
41.0935
Longitude
-82.1258
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
$1,263
$15,340
$6,270
$21,610
-
$43,840
$17,900
$61,740

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].