152 Continental DrSalem, OH 44460

Property Details for 152 Continental Dr

Year built

1973

Lot size

5.16 AC

Property size (Sq ft)

30,200 SF

Property type

Automotive properties

APN

51-08057-000

APU

5108057000

Description

This exceptional commercial property presents a unique investment opportunity. Located at 152 Continental Drive in Salem, Ohio, this former Ford dealership boasts a substantial 30,200 square feet of space, encompassing a showroom and service garages. Situated on a generous 5-acre lot, the property offers ample room for expansion or future development. The asking price is $2,345,000, translating to $77.65 per square foot. The property is currently vacant and zoned for commercial use, providing flexibility for a variety of automotive-related or other suitable businesses. Its strategic location offers high visibility and accessibility, with excellent signage opportunities on State Street. The property enjoys proximity to Salem Hospital and a cluster of major retailers, including Home Depot, Walmart, Starbucks, Chipotle, Marc's, and Giant Eagle, ensuring high traffic flow and a strong customer base. This presents a rare chance to acquire a well-positioned, sizable commercial property in a thriving Ohio community. The property is ready for immediate occupancy. All utilities are available. The 44460 zip code offers easy access to major transportation routes. This is an ideal location for a new or expanding business seeking a high-traffic, well-established area.

• CAP approach

  CAP return

  Valuation

  6%

  $8,442,724

  6.5%

  $7,793,283

  7%

  $7,236,620

• Comparable approach

  Method

  Valuation

  Relative Method

  $7,118,768

  Geo Method

  $7,118,768

• Alternative Use

  Use

  Valuation

  Residential

  $6,573,926

  Hospitality

  $6,021,681

  Educational

  $5,009,968

  Medical

  $5,182,268

  Retail

  $7,793,283

Location Insight

City

Salem

County

Columbiana

State

Ohio

Latitude

40.9021

Longitude

-80.8251

CBSA code

41400

CBSA name

SALEM, OH MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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