429 Limestone StSpringfield, OH 45505

Property Details for 429 Limestone St

Year built

1950

Construction

FRAME

Lot size

0.56 AC

Property size (Sq ft)

1,872 SF

Property type

Retail properties

Property subtype

Retail space

APN

340-07-00034-130-016

APU

3400700034130016

Description

This exceptional special-purpose property, located at 429 S Limestone Street in Springfield, Ohio, presents a unique investment opportunity. Situated on a substantial 24,393.6 square foot corner lot, this property boasts unparalleled visibility at the busy intersection of S. Limestone St, West Pleasant St, Spring St, and Selma Road. Currently operating as a car lot, the property includes two service bays, a spacious office, a medium-sized storage room, and one bathroom. The existing infrastructure allows for efficient operations, and there's potential to add a second bathroom to enhance functionality. Two convenient driveways provide easy access for customers and inventory management. The asking price is $290,000, translating to $154.91 per square foot. This property's high-traffic location and existing improvements make it ideal for a variety of uses, offering significant potential for return on investment. The property's size and strategic placement offer considerable flexibility for future development or continued operation as a car lot. The existing building provides immediate income potential, while the expansive lot allows for potential expansion or redevelopment. This is a rare opportunity to acquire a well-positioned commercial property in a thriving Ohio market. The property is zoned for commercial use and is ready for immediate occupancy. Serious inquiries are encouraged.

• CAP approach

  CAP return

  Valuation

  6%

  $528,036

  6.5%

  $487,418

  7%

  $452,602

• Comparable approach

  Method

  Valuation

  Relative Method

  $92,886

  Geo Method

  $92,886

• Alternative Use

  Use

  Valuation

  Residential

  $411,155

  Hospitality

  $376,616

  Educational

  $313,340

  Medical

  $324,116

  Retail

  $487,418

Location Insight

City

Springfield

County

Clark

State

Ohio

Latitude

39.919

Longitude

-83.8093

CBSA code

44220

CBSA name

SPRINGFIELD, OH METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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