231 Main StLexington, OH 44904

Property Details for 231 Main St

Year built

2019

Lot size

8.47 AC

Property size (Sq ft)

10,054 SF

Property type

Healthcare properties

Property subtype

Medical offices

APN

048-27-172-17-002

APU

482717217002

Description

This exceptional 6+ acre commercial land parcel is situated on Main Street in Lexington, Ohio, offering unparalleled development opportunities. Located in Richland County, with APN 0482714201000 and zip code 44904, this leveled property boasts convenient access to I-71, providing easy access to both Cleveland and Columbus. The asking price is $400,000. This prime location is minutes from the Mid-Ohio Sports Car Course, a major regional attraction drawing visitors from across the country. The area is experiencing significant growth, with a strong school district and a desirable blend of rural charm and modern amenities. Surrounded by farmland and quiet neighborhoods, Lexington offers a unique appeal to businesses and residents alike. The property's central location presents a strategic advantage for businesses seeking to reach a wide market, with endless potential for various commercial developments. This non-contingent offering requires a 10% earnest money deposit. The property is adjacent to a restaurant, further enhancing its commercial viability. This is a rare opportunity to acquire a substantial land parcel in a thriving Ohio community.

• CAP approach

  CAP return

  Valuation

  6%

  $1,893,677

  6.5%

  $1,748,010

  7%

  $1,623,152

• Comparable approach

  Method

  Valuation

  Relative Method

  $940,451

  Geo Method

  $940,451

• Alternative Use

  Use

  Valuation

  Residential

  $2,167,532

  Hospitality

  $1,985,448

  Educational

  $1,651,869

  Medical

  $1,708,680

  Retail

  $2,569,574

Location Insight

City

Mansfield

County

Richland

State

Ohio

Latitude

40.6802

Longitude

-82.5751

CBSA code

31900

CBSA name

MANSFIELD, OH METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

FAQs

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