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    516 High St Orrville, OH 44667

    Sponsored
    For Sale
    $199,000

    High-yield retail & residential property.

    Description

    Added:
    Feb 3, 2025
    Days on Market:
    338
    This exceptional mixed-use property in Orrville, Ohio presents a lucrative investment opportunity. The offering encompasses a fully occupied retail building and a separate rental home, generating consistent monthly income streams. The retail space, totaling 1,852 square feet, features a welcoming receptionist area, a spacious lobby, seven individual offices, ample storage rooms, and convenient restrooms. Its dual entrances offer flexibility for potential expansion or division into separate units. Currently leased at $1,100 per month, this retail space benefits from a recently installed roof, ensuring long-term durability and reduced maintenance costs. The accompanying rental home, situated at 338 Hall St., is a charming 976-square-foot bungalow. This two-bedroom, one-bathroom residence includes a basement, adding to its appeal. Currently leased at $791 per month, the tenant is responsible for all utilities, minimizing landlord responsibilities. The entire property sits on a sizable 0.28-acre lot, providing ample space and potential for future development or expansion. This turnkey investment offers immediate cash flow and significant long-term growth potential, making it an ideal addition to any portfolio. The combined rental income provides a strong return on investment, making this a compelling opportunity for discerning investors seeking a stable and profitable asset. The property is offered at $199,000.

    Property Features for 516 High St

    General Information

    Property type
    Mixed-use properties
    Lot Size
    12,197 SF

    Building Details

    Year Built
    1987
    Property Profile Location Intelligence

    Current Use by Public Records

    Mixed-use properties

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Spa & Massage Dental Office Wholesale Shop Auto Repair Shop Hair Salon Clothing Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Orrville
    County
    Wayne
    State
    Ohio
    Longitude
    -81.77064
    Latitude
    40.84346

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    FAQs

    What type of property is this?
    Mixed-use property - High-yield retail & residential property.
    Where is this mixed-use property located?
    The property is located at 516 High St Orrville, OH.
    What is the asking price?
    The asking price for this property is $199,000.
    (330) 492-7230
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    516 High St Orrville, OH 44667
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    Orrville, OH 44667
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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
    516 High St Orrville, OH 44667
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