319 Main StColumbiana, OH 44408

  • Healthcare properties
  • 6,624 SF
For Sale
$625,000 View listing

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
319 Main St, Columbiana, Ohio

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

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
$6,114
$14,880
$131,360
$146,240
-
$42,500
$375,300
$417,800

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