5960 Center RdValley City, OH 44280

Property Details for 5960 Center Rd

Year built

1967

Lot size

4.00 AC

Property size (Sq ft)

9,320 SF

Property type

Retail properties

Property subtype

Auto shops

APN

025-01D-03-002

APU

02501D03002

Description

This exceptional investment opportunity encompasses a 22.33-acre site in Valley City, Ohio, featuring four industrial buildings totaling 19,048 square feet. The property boasts a strong tenant roster, anchored by Progressive Construction Group, a leader in wall foundations, under a 10-year sale-leaseback agreement. Additional tenants include Environmental Stone Works and a trucking company providing oil changes and maintenance, generating consistent rental income. Building A, constructed in 1967 and recently renovated, comprises 9,300 square feet of office and warehouse space, featuring new HVAC (2022), grade-level doors, and ample utilities. Building B (7,040 sq ft, built 1973) and Building C (2,688 sq ft, built 1987) offer additional warehouse space with multiple grade-level doors. A planned 1,500-square-foot office addition (Building D) is slated for completion in early 2024, further enhancing the property's value. The property also includes a 40+ unit semi-truck parking area. A Phase 1 environmental assessment was completed on August 11, 2021. Utilities include Columbia Gas (one meter), Ohio Edison (three meters), and Armstrong Cable. The property utilizes a well water and septic system. Projected annual property taxes are $43,376.27. This multi-tenant complex presents a compelling investment opportunity with significant long-term potential.

• CAP approach

  CAP return

  Valuation

  6%

  $2,601,659

  6.5%

  $2,401,532

  7%

  $2,229,994

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,196,918

  Geo Method

  $2,196,918

• Alternative Use

  Use

  Valuation

  Residential

  $2,025,782

  Hospitality

  $1,855,605

  Educational

  $1,543,842

  Medical

  $1,596,937

  Retail

  $2,401,532

Location Insight

City

Valley City

County

Medina

State

Ohio

Latitude

41.2362

Longitude

-81.9014

CBSA code

17460

CBSA name

CLEVELAND-ELYRIA-MENTOR, OH METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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