29 Hester StNorwalk, OH 44857

Property Details for 29 Hester St

Year built

1925

Lot size

0.13 AC

Property size (Sq ft)

2,376 SF

Property type

Office properties

Property subtype

Office buildings

APN

33-0200-01-041-0000

APU

330200010410000

Description

This exceptional commercial property in downtown Norwalk, Ohio, presents a unique investment opportunity. Boasting a total of 8,422 square feet on a 0.25-acre lot, this property offers a blend of renovated retail space and expansive warehouse potential. The recently renovated 2,332-square-foot retail area features modern updates including new gas heaters, a gas forced air furnace, central air conditioning, updated electrical and plumbing systems, fresh drywall, new lighting, a new water heater, and a renovated bathroom. Exposed ductwork adds to the industrial-chic aesthetic. The adjacent 6,090-square-foot warehouse space, measuring approximately 87' x 70', is equipped with overhead garage doors, offering versatile usage options. This space could serve as a warehouse, or present significant potential for future development. The property benefits from separate electrical meters for the retail and warehouse areas, ensuring efficient utility management. New concrete sidewalks enhance the property's curb appeal. Previously utilized as an automotive service garage and sales dealership, this property comes with comprehensive documentation, including Phase I environmental reports and dump hauling records. Its prime downtown location offers easy access to shops, restaurants, the post office, coffee shops, parks, and the Norwalk splash pad, ensuring high visibility and convenient access for both employees and customers. This is an ideal opportunity for a business seeking a move-in ready space with significant expansion possibilities in a thriving downtown area. The property is commercially/industrially zoned. The motivated seller makes this an attractive proposition.

• CAP approach

  CAP return

  Valuation

  6%

  $447,521

  6.5%

  $413,096

  7%

  $383,590

• Comparable approach

  Method

  Valuation

  Relative Method

  $222,251

  Geo Method

  $222,251

• Alternative Use

  Use

  Valuation

  Residential

  $512,240

  Hospitality

  $469,209

  Educational

  $390,376

  Medical

  $403,802

  Retail

  $607,252

Location Insight

City

Norwalk

County

Huron

State

Ohio

Latitude

41.2426

Longitude

-82.6175

CBSA code

35940

CBSA name

NORWALK, OH MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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