43 Main StNew London, OH 44851

Property Details for 43 Main St

Year built

1900

Lot size

0.03 AC

Property size (Sq ft)

1,541 SF

Property type

Retail space

APN

26-0180-03-012-0000

APU

260180030120000

Description

This 3,082 sq ft mixed-use building at 43 E Main St, New London, Ohio 44851, presents a compelling investment opportunity. Located in the heart of the Downtown Business district, this two-story, 1900-built structure offers a blend of retail and residential income streams. The main level currently houses a storefront, boasting large windows ideal for attracting foot traffic, and is under lease until May 2025 at $650 per month. Upstairs, three residential units generate additional income: two efficiency apartments rented at $350 each, and a one-bedroom apartment previously rented at $550. The property sits on a 0.03 sq ft lot and features four total units. With a current NOI of $2,150 and an asking price of $179,000, this property offers a 1.20% cap rate. Please allow 48 hours' notice for showings. This sale/leaseback opportunity is perfect for investors seeking a blend of retail and residential income in a thriving downtown location. The property is zoned for Downtown Business district use.

• CAP approach

  CAP return

  Valuation

  6%

  $426,665

  6.5%

  $393,845

  7%

  $365,713

• Comparable approach

  Method

  Valuation

  Relative Method

  $363,246

  Geo Method

  $363,246

• Alternative Use

  Use

  Valuation

  Residential

  $332,223

  Hospitality

  $304,314

  Educational

  $253,186

  Medical

  $261,893

  Retail

  $393,845

Location Insight

City

New London

County

Huron

State

Ohio

Latitude

41.0854

Longitude

-82.3982

CBSA code

35940

CBSA name

NORWALK, OH MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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