180 Main StSomerville, OH 45064

Property Details for 180 Main St

Year built

1960

Lot size

0.22 AC

Property size (Sq ft)

1,652 SF

Property type

Auto shops

APN

F2900-065.000-045

APU

F2900065000045

Description

This exceptional investment opportunity presents a 2,602 square foot Class C auto shop in Somerville, Ohio, currently generating $2,000 monthly passive income. Located at 180 S Main St, 45064, this property features two buildings on a 21,685 square foot lot with 30 parking spaces. The property includes three drive-in bays (one 12' clear height, two 10' clear height), newer overhead doors, a 9,000lb 2-post lift, compressor hookups, renovated offices with concrete floor armor, polished concrete service bays, and a newly poured parking lot. Recent renovations (2023) included fresh interior/exterior paint. A detached storage structure and additional adjacent vacant land parcels (each with street access) offer significant expansion potential. The current tenant, a state-certified towing company with over 10 years of operation, occupies the space under a gross lease. The property is zoned for commercial garage use and boasts 63 feet of Main Street frontage. The asking price is $225,000 ($86.47/sq ft), with an occupancy date of August 23, 2024. This turnkey operation provides a stable income stream and substantial upside for future development. A 30-day notice is required for existing tenants, if applicable.

• CAP approach

  CAP return

  Valuation

  6%

  $287,339

  6.5%

  $265,236

  7%

  $246,291

• Comparable approach

  Method

  Valuation

  Relative Method

  $517,008

  Geo Method

  $517,008

• Alternative Use

  Use

  Valuation

  Residential

  $223,737

  Hospitality

  $204,942

  Educational

  $170,509

  Medical

  $176,373

  Retail

  $265,236

Location Insight

City

Somerville

County

Butler

State

Ohio

Latitude

39.5619

Longitude

-84.6383

CBSA code

17140

CBSA name

CINCINNATI-MIDDLETOWN, OH-KY-IN METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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