55 Market StEast Palestine, OH 44413

Property Details for 55 Market St

Year built

1900

Lot size

0.07 AC

Property size (Sq ft)

5,720 SF

Property type

Retail properties

Property subtype

Retail space

APN

68-02337-000

APU

6802337000

Description

Exceptional opportunity to acquire the renowned Skerball Building, a prominent standalone commercial property situated in the heart of East Palestine's business district on Market Street. This 6,240-square-foot lot features a substantial building with over 6,000 square feet of usable space, including a full basement and a second floor offering over 3,000 square feet with two bathrooms and a rooftop deck. The street-level space has been completely gutted, ready for a complete remodel to suit your business needs. Previous plans included a restaurant concept, and some restaurant equipment is available. Recent updates include a new roof, oversized gutters and downspouts, some new windows, and updated gas and water lines. Exterior improvements include a rebuilt rear wall, repointing, and repainting. A sound system is in place, and the water line is split for a sprinkler system. An adjacent 38 x 120 lot, prepared for an outdoor deck and paved walkway, provides convenient access to a public parking lot. The building's strategic location offers easy access to major transportation hubs, including Youngstown, OH (25 minutes), Pittsburgh, PA (1 hour), Pittsburgh International Airport (40 minutes), and Cleveland, OH (1.5 hours). This property presents endless possibilities for a variety of commercial ventures. The asking price is $250,000.

• CAP approach

  CAP return

  Valuation

  6%

  $1,599,085

  6.5%

  $1,476,079

  7%

  $1,370,645

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,348,323

  Geo Method

  $1,348,323

• Alternative Use

  Use

  Valuation

  Residential

  $1,245,128

  Hospitality

  $1,140,530

  Educational

  $948,908

  Medical

  $981,542

  Retail

  $1,476,079

Location Insight

City

East Palestine

County

Columbiana

State

Ohio

Latitude

40.8333

Longitude

-80.5402

CBSA code

41400

CBSA name

SALEM, OH MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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