450 Western AveLewisburg, OH 45338

Property Details for 450 Western Ave

Lot size

7.60 AC

Property type

Breweries

APN

D13-0012-028-00-012-003

APU

D13001202800012003

Description

This 10,320-square-foot industrial building in Lewisburg, Ohio, presents a unique investment opportunity. Priced at $650,000 ($62.98/sq ft), the property sits on a 7.602-acre lot and is zoned I-1. Currently a shell building, construction was previously underway for a restaurant/brewery/retail space but was halted mid-project. The structure features a completed exterior shell, installed windows and roof insulation, a finished mezzanine, and some completed drainage and sidewalks. This offers a significant cost savings for a buyer looking to complete the build-out to their specifications. The building's versatile nature makes it ideal for various uses, including warehouse space, self-storage, or even a brewery, given its prior intended use. Convenient access is provided from both Clay Street and Western Avenue, with proximity to I-70 via West Clay Street. The property's APN is D13001202800012003. This is a prime opportunity to acquire a partially completed building in a desirable location at a competitive price.

• CAP approach

  CAP return

  Valuation

  6%

  $118,025,000

  6.5%

  $108,946,000

  7%

  $101,164,000

• Comparable approach

  Method

  Valuation

  Relative Method

  $41,018,800

  Geo Method

  $10,432,300

• Alternative Use

  Use

  Valuation

  Retail / Commercial

  $55,691,700

  Mixed-Use / Specialty

  $55,355,200

  Hospitality / Lodging

  $40,432,700

  Office

  $54,882,700

  Institutional / Educational

  $57,497,800

  Residential Income

  $67,272,500

  Multifamily

  $81,447,800

  Automotive / Energy

  $49,283,900

  Parking / Income-Based Land

  $17,143,600

  Restaurant / Food Service

  $28,496,200

  Healthcare / Senior Housing

  $56,907,200

Location Insight

City

Lewisburg

County

Preble

State

Ohio

Latitude

39.8446

Longitude

-84.5465

CBSA code

19380

CBSA name

DAYTON, OH METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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