231 Main AveWarren, OH 44481

Property Details for 231 Main Ave

Year built

1968

Lot size

1.06 AC

Property size (Sq ft)

16,026 SF

Property type

Strip malls

Property subtype

Neighborhood centers

APN

39-527835

APU

39527835

Description

This exceptional 16,000 square foot retail shopping center and storefront, located at 231 Main Ave SW in Warren, Ohio (44481), presents a lucrative investment opportunity. Boasting a total of 32,000 net rentable square feet across a single story building on a one-acre lot, the property is currently 100% occupied by a diverse mix of retail and service tenants. The asking price is $1,750,000, translating to $109.38 per square foot. Situated in the heart of downtown Warren, this plaza enjoys a highly visible location directly across from the courts, fire, and police stations, and just a short distance from the new Kimberly Clark $2 billion development. Extensive renovations completed between 2021 and 2022 encompassed a new roof, updated ceilings, and completely remodeled suites, including electrical and plumbing systems. The property benefits from a net lease structure, with tenants responsible for their own taxes and utilities. Two tenants are established long-term occupants, while others have recently signed new leases, ensuring consistent income and stability. This fully leased, prime retail location offers a compelling investment opportunity with strong tenant occupancy and recent capital improvements. The property's central location and proximity to major developments promise continued growth and high returns.

• CAP approach

  CAP return

  Valuation

  6%

  $4,480,234

  6.5%

  $4,135,601

  7%

  $3,840,201

• Comparable approach

  Method

  Valuation

  Relative Method

  $3,777,662

  Geo Method

  $3,777,662

• Alternative Use

  Use

  Valuation

  Residential

  $3,488,534

  Hospitality

  $3,195,479

  Educational

  $2,658,601

  Medical

  $2,750,034

  Retail

  $4,135,601

Location Insight

City

Warren

County

Trumbull

State

Ohio

Latitude

41.2345

Longitude

-80.8195

CBSA code

49660

CBSA name

YOUNGSTOWN-WARREN-BOARDMAN, OH-PA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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