231 Main AveWarren, OH 44481

  • Retail properties
  • 16,026 SF
For Sale
$1,750,000 View listing

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
231 Main Ave, Warren, Ohio

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

Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2023
$7,898
$50,790
$71,120
$121,910
-
$145,100
$203,200
$348,300

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