311 Main StCelina, OH 45822

Property Details for 311 Main St

Year built

1924

Property size (Sq ft)

5,040 SF

Property type

Office properties

Property subtype

Office buildings

APN

08-01-284-006

APU

801284006

Description

This exceptional mixed-use property, located at 311 S Main St in Celina, Ohio, presents a unique investment opportunity. The 15,498 square foot building, constructed in 1924, boasts a prime downtown location and offers versatile space ideal for a variety of uses. Currently configured as a creative and traditional office space, the building's open floor plan allows for extensive customization to suit individual needs. The substantial 0.53-acre lot provides ample space, and the possibility of building on the adjacent alley adds further development potential. The building's two stories provide flexibility, with the upper level offering stunning views of downtown Celina and Grand Lake. Previous demolition work has already been completed, significantly reducing the initial investment required for renovation or redevelopment. An additional parking lot situated west of the building provides convenient parking for tenants or customers. This property is privately owned and represents a rare chance to acquire a substantial building in a thriving Ohio community. The building's central location and adaptable space make it suitable for a wide range of commercial ventures, including restaurants, housing, entertainment venues, or a combination of uses. The asking price is $325,000.

• CAP approach

  CAP return

  Valuation

  6%

  $967,099

  6.5%

  $892,707

  7%

  $828,942

• Comparable approach

  Method

  Valuation

  Relative Method

  $99,238

  Geo Method

  $99,238

• Alternative Use

  Use

  Valuation

  Residential

  $1,106,956

  Hospitality

  $1,013,966

  Educational

  $843,608

  Medical

  $872,621

  Retail

  $1,312,279

Location Insight

City

Celina

County

Mercer

State

Ohio

Latitude

40.5464

Longitude

-84.5713

CBSA code

16380

CBSA name

CELINA, OH MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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