319 Main StColumbiana, OH 44408
- Healthcare properties
- 6,624 SF
Property Details for 319 Main St
- Year built
- 1981
- Lot size
- 0.28 AC
- Property size (Sq ft)
- 6,624 SF
- Property type
- Healthcare properties
- Property subtype
- Medical offices
- APN
- 18-00679-000
- APU
- 1800679000
Description
This 6,600 square foot Class B medical office building, located at 319 N Main St, Columbiana, OH 44408, presents a compelling value-add investment opportunity. Built in 1981 and renovated in 1994, the single-story building sits on a 0.279-acre lot and is currently 50% occupied by three tenants under a gross lease. The property is zoned for commercial use and offers significant upside potential due to the availability of additional leasable space and the limited supply of office space in Columbiana. Priced at $625,000 ($94.70/sq ft), this property is ideally suited for a medical practitioner or other professional office seeking a prime location just north of downtown Columbiana. The building's history as a former medical center provides a strong foundation for continued success in the healthcare sector. This is a rare opportunity to acquire a well-located, multi-tenant medical office building with substantial growth potential in a thriving Ohio community.
Valuation
by Paperhouses methods
- Valuation date:
- Dec 11, 2024
-
CAP approach
- CAP return
- Valuation
- 6%
- $1,259,733
- 6.5%
- $1,162,831
- 7%
- $1,079,771
-
Comparable approach
- Method
- Valuation
- Relative Method
- $619,609
- Geo Method
- $619,609
-
Alternative Use
- Use
- Valuation
- Residential
- $1,441,910
- Hospitality
- $1,320,782
- Educational
- $1,098,875
- Medical
- $1,136,667
- Retail
- $1,709,361
Location Insight
- City
- Columbiana
- County
- Columbiana
- State
- Ohio
- Latitude
- 40.8938
- Longitude
- -80.6946
- CBSA code
- 41400
- CBSA name
- SALEM, OH MICROPOLITAN STATISTICAL AREA
Property Tax & Assessments
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
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