231 Main AveWarren, OH 44481
- Retail properties
- 16,026 SF
Property Details for 231 Main Ave
- Year built
- 1968
- Lot size
- 1.06 AC
- Property size (Sq ft)
- 16,026 SF
- Property type
- Retail properties
- Property subtype
- Strip malls
- 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.
Valuation
by Paperhouses methods
- Valuation date:
- Dec 11, 2024
-
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
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
FAQs
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