202 Belmont AveSpringfield, OH 45505

Property Details for 202 Belmont Ave

Year built

1955

Construction

BRICK

Lot size

0.23 AC

Property size (Sq ft)

2,920 SF

Property type

Healthcare properties

Property subtype

Medical offices

APN

340-07-00022-101-009

APU

3400700022101009

Description

This versatile 4,380 square foot mixed-use property at 202 S Belmont Avenue, Springfield, OH, presents a compelling investment opportunity. Currently generating $3,000 monthly income from seven full-time ($100/week) and one part-time ($50/week) leased salon booths on month-to-month agreements, this brick ranch offers significant upside potential. The building, featuring a full basement, was originally designed as two separate office spaces and could be easily converted back to this configuration. A large parking lot provides ample parking for tenants and customers. Recent upgrades include a new roof (2023), updated heating and cooling systems (2021), and a recently resealed parking lot ($37,500 investment in 2024). The property has also undergone cosmetic remodeling. An adjacent 0.23-acre commercially zoned lot is available for an additional $30,000, allowing for expansion possibilities ranging from additional office space to a four-unit apartment building. This property offers a blend of immediate income and future development potential, making it an attractive investment in a thriving Springfield location. The asking price for this turnkey operation is $350,000.

• CAP approach

  CAP return

  Valuation

  6%

  $560,303

  6.5%

  $517,203

  7%

  $480,260

• Comparable approach

  Method

  Valuation

  Relative Method

  $57,495

  Geo Method

  $57,495

• Alternative Use

  Use

  Valuation

  Residential

  $641,332

  Hospitality

  $587,457

  Educational

  $488,757

  Medical

  $505,566

  Retail

  $760,289

Location Insight

City

Springfield

County

Clark

State

Ohio

Latitude

39.9212

Longitude

-83.7796

CBSA code

44220

CBSA name

SPRINGFIELD, OH METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?

Please email our support team at [email protected] and they will add the team member.

How do I access a private listing?

Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.

How can I contact the broker?

We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.

How do I unsubscribe from emails?

At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].