12 Main StWakeman, OH 44889

Property Details for 12 Main St

Year built

1947

Lot size

0.25 AC

Property size (Sq ft)

1,300 SF

Property type

Parking lots & garages

APN

50-055A-06-020-0100

APU

50055A060200100

Description

This exceptional 2,617 sq ft mixed-use building presents a rare opportunity in downtown Wakeman, OH. The property boasts a prime location on W Main Street and includes a spacious 0.27-acre lot with a large fenced-in area, ideal for various income-generating ventures such as a flea market, vehicle storage (boats, cars, trucks), or other outdoor commercial uses. The main building features a 2-bedroom apartment complete with a full kitchen, living room, and appliances, providing valuable residential space. The commercial space is versatile and currently includes an indoor car storage area and a mechanical shop equipped with a car lift, along with an attached 18x18 building offering additional options. A portion of the building previously served as a hair salon, easily adaptable for offices, retail, or other businesses. The property benefits from a newer roof and other recent upgrades. The heated building also includes two half-baths and one full bath. This well-maintained property offers significant potential for diverse commercial and residential income streams, making it a truly unique investment opportunity. The possibilities are extensive, and this property is ready for a new owner to capitalize on its many advantages.

• CAP approach

  CAP return

  Valuation

  6%

  $359,938

  6.5%

  $332,251

  7%

  $308,518

• Comparable approach

  Method

  Valuation

  Relative Method

  $306,437

  Geo Method

  $306,437

• Alternative Use

  Use

  Valuation

  Residential

  $280,266

  Hospitality

  $256,722

  Educational

  $213,590

  Medical

  $220,935

  Retail

  $332,251

Location Insight

City

Wakeman

County

Huron

State

Ohio

Latitude

41.2549

Longitude

-82.4025

CBSA code

35940

CBSA name

NORWALK, OH MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

FAQs

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