540 Patterson StAlliance, OH 44601

Property Details for 540 Patterson St

Year built

1931

Construction

FRAME

Lot size

0.49 AC

Property size (Sq ft)

5,241 SF

Property type

Retail properties

Property subtype

Auto shops

APN

01-13877

APU

113877

Description

This exceptional commercial property, located at 540 E Patterson Street in Alliance, Ohio, presents a significant investment opportunity. Spanning 5,241 square feet on a 0.49-acre lot, the building boasts a versatile layout ideal for a variety of businesses. Previously utilized as a thriving mechanic and auto detailing shop, the property is equipped with substantial space for various operations. The layout includes a well-appointed office area, divided into three distinct sections: a main office/lobby (approximately 242 sq ft), a secondary office/lobby (approximately 121 sq ft), and a back office (approximately 132 sq ft). Ample storage is available in a dedicated 140 sq ft area. The main work bay, measuring approximately 2400 sq ft, is equipped with two Matco lifts and tire machines, ready for immediate use. A separate detailing bay of approximately 990 sq ft provides additional space for specialized services. A rear bay, approximately 323 sq ft, offers further flexibility. The property's prime location and substantial size make it an attractive prospect for entrepreneurs seeking a well-established space or investors looking for a strong return. Priced at $159,900, this property offers a compelling opportunity to capitalize on a thriving market. The existing infrastructure and equipment provide a significant advantage for a quick and efficient start-up or expansion.

• CAP approach

  CAP return

  Valuation

  6%

  $1,465,176

  6.5%

  $1,352,470

  7%

  $1,255,865

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,235,413

  Geo Method

  $1,235,413

• Alternative Use

  Use

  Valuation

  Residential

  $1,140,859

  Hospitality

  $1,045,021

  Educational

  $869,445

  Medical

  $899,347

  Retail

  $1,352,470

Location Insight

City

Alliance

County

Stark

State

Ohio

Latitude

40.9235

Longitude

-81.0978

CBSA code

15940

CBSA name

CANTON-MASSILLON, OH METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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