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    240 Chestnut St Ravenna, OH 44266

    For Sale
    $250,000

    Prime location, three units, ample parking.

    Description

    Added:
    Feb 3, 2025
    Days on Market:
    306
    This exceptional 2700 square foot office building presents a unique investment opportunity in the heart of Downtown Ravenna, Ohio. Strategically located directly behind the Portage County Courthouse, this property enjoys high visibility and convenient access to county services and the city center. The building comprises three individual office units, each featuring two to three private offices, providing flexibility for various business needs. On-site parking is available in a dedicated lot situated in front of the building, ensuring convenient access for tenants and clients. Constructed in 1940 and thoughtfully remodeled in 1994, the building blends historical charm with modern functionality. The 0.12-acre lot provides ample space for parking and potential future expansion. This property is ideal for a variety of uses, from established businesses seeking a prominent downtown location to entrepreneurs looking for a well-maintained space to launch their ventures. Its central location and convenient amenities make it an attractive option for a wide range of potential occupants. The asking price of $250,000 represents a compelling investment opportunity in a thriving Ohio community. Don't miss this chance to acquire a valuable commercial property in a high-demand area.

    Property Features for 240 Chestnut St

    General Information

    Property type
    Office Properties & Spaces
    Lot Size
    5,227 SF

    Building Details

    Year Built
    1940
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Richard C Lombardi General Practice Attorney Ohio Title Agency ... Title Company Erb Legal LLC Criminal Justice Attorney

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Ravenna
    County
    Portage
    State
    Ohio
    Longitude
    -81.24354
    Latitude
    41.1562

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    FAQs

    What type of property is this?
    Office Property / Space - Prime location, three units, ample parking.
    Where is this office property / space located?
    The property is located at 240 Chestnut St Ravenna, OH.
    What is the asking price?
    The asking price for this property is $250,000.
    (330) 296-9997
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    240 Chestnut St Ravenna, OH 44266
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    Ravenna, OH 44266
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    240 Chestnut St Ravenna, OH 44266
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