208 Milltown RdWooster, OH 44691

Property Details for 208 Milltown Rd

Year built

1998

Lot size

0.78 AC

Property size (Sq ft)

6,552 SF

Property type

Medical offices

Property subtype

Medical centers

APN

67-02874-002

APU

6702874002

Description

This exceptional mixed-use property at 208 E Milltown Rd, Wooster, OH 44691, presents a compelling investment opportunity. The 6,552 square foot building, constructed in 1998, sits on a 0.782-acre lot and is zoned C-1 Office/Institutional. Currently operating as a multi-tenant property, it features two units. Unit A is under lease until October 31st, 2027, providing immediate income. Unit B is available for lease, offering the potential for increased revenue. The asking price is $925,000, translating to $141.18 per square foot. The building's current occupancy is 50%, with full occupancy projected for July 22nd, 2024. The existing lease for Unit A is a gross lease with a 5.2-year term, commencing August 24th, 2022. This single-story building offers a versatile space suitable for executive, medical, or traditional office uses. The property's location in Wooster, Wayne County, Ohio, provides excellent access to local amenities and transportation. This owner/user investment opportunity allows for immediate income generation and future growth potential. Serious inquiries only.

• CAP approach

  CAP return

  Valuation

  6%

  $1,246,040

  6.5%

  $1,150,191

  7%

  $1,068,035

• Comparable approach

  Method

  Valuation

  Relative Method

  $612,874

  Geo Method

  $612,874

• Alternative Use

  Use

  Valuation

  Residential

  $1,426,237

  Hospitality

  $1,306,426

  Educational

  $1,086,931

  Medical

  $1,124,312

  Retail

  $1,690,781

Location Insight

City

Wooster

County

Wayne

State

Ohio

Latitude

40.8441

Longitude

-81.9381

CBSA code

49300

CBSA name

WOOSTER, OH MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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