1117 Claremont AveAshland, OH 44805

  • Outlet malls
  • 16,200 SF
For Sale
$1,455,333 View listing

Property Details for 1117 Claremont Ave

Year built
1959
Lot size
1.79 AC
Property size (Sq ft)
16,200 SF
Property type
Outlet malls
APN
P44-054-A-0041-00
APU
P44054A004100

Description

This fee-simple retail property in Ashland, Ohio, offers a compelling investment opportunity. The 16,300 square-foot center boasts a 100% occupancy rate, anchored by a Dollar Tree store operating under a net lease agreement with a corporate guarantee. The lease, originally commencing September 24, 2007, has a remaining term of approximately 3.1 years, extending to December 30, 2027. The second tenant space, recently occupied, adds to the property's income stream. The property's strong financial performance is reflected in its $130,980 net operating income (NOI) and a 9.00% capitalization rate. The asking price is $1,455,333, translating to $89.28 per square foot. Situated on a 1.79-acre lot at 1117 Claremont Ave, Ashland, OH 44805, the center benefits from a high-traffic location near Ashland University and numerous national retailers, schools, and apartments. The property's strategic location along Claremont Avenue sees over 11,289 vehicles daily, ensuring consistent visibility and customer traffic. This investment presents a stable, income-generating asset with a strong tenant and favorable market conditions. The property's proximity to Ashland University and its surrounding residential and commercial areas contributes to its robust performance and long-term potential.

Valuation
by Paperhouses methods

Valuation date:
Dec 11, 2024
  • CAP approach

    CAP return
    Valuation
    6%
    $4,514,482
    6.5%
    $4,167,215
    7%
    $3,869,556
  • Comparable approach

    Method
    Valuation
    Relative Method
    $3,818,677
    Geo Method
    $3,818,677
  • Alternative Use

    Use
    Valuation
    Residential
    $3,515,202
    Hospitality
    $3,219,906
    Educational
    $2,678,924
    Medical
    $2,771,056
    Retail
    $4,167,215

Location Insight

City
Ashland
County
Ashland
State
Ohio
Latitude
40.8584
Longitude
-82.328
CBSA code
11740
CBSA name
ASHLAND, OH MICROPOLITAN 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
$11,563
$96,930
$107,240
$204,170
-
$276,940
$306,400
$583,340

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