241 State StSalem, OH 44460

Property Details for 241 State St

Year built

1930

Lot size

0.07 AC

Property size (Sq ft)

7,347 SF

Property type

Other commercial real estate

APN

51-03950-000

APU

5103950000

Description

This exceptional mixed-use investment opportunity presents a fully leased, three-story building at 241 E State St, Salem, OH 44460. The 7,347 square foot property, built in 1930, boasts a compelling blend of commercial and residential space, currently operating at 100% occupancy. The ground floor comprises a leased retail storefront, formerly known as the Salem Trading Post, offering excellent street-level visibility and access. Above, the second floor features two separately rented apartment units, while the third floor houses a single studio apartment. The building benefits from convenient front parking and additional public parking directly across the street. With four tenants currently in place, this property provides a stable income stream, offering a price per square foot of $32.12 and an asking price of $236,000. The property is zoned for commercial use and includes a full basement, adding further potential for expansion or adaptation. This is a rare chance to acquire a well-maintained, historically significant building in a thriving downtown location. The strong tenancy and high occupancy rate make this an attractive investment for both seasoned and new investors seeking a stable and profitable venture. The property's versatile layout and prime location offer significant long-term growth potential.

• Alternative Use

  Use

  Valuation

  Residential

  $1,599,292

  Hospitality

  $1,464,943

  Educational

  $1,218,816

  Medical

  $1,260,733

  Retail

  $1,895,936

Location Insight

City

Salem

County

Columbiana

State

Ohio

Latitude

40.9007

Longitude

-80.8558

CBSA code

41400

CBSA name

SALEM, OH MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?

Please email our support team at [email protected] and they will add the team member.

How do I access a private listing?

Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.

How can I contact the broker?

We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.

How do I unsubscribe from emails?

At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].