Two-Unit Mixed-Use
For Sale
$160,000
171 Broad St, Conneaut, OH 44030
Former office space and an upstairs two-bedroom apartment have separate entrances.
Property Size1,608 SF
Price / SF$99.50
Days on Market47
Property Features for 171 Broad St
General Information
Standard status
Active
Size
1,608 SF
Units
Unit Mix
1 x 2BR
Multifamily Units
1
Office Units
1
Additional Details
Asking Price
$160,000
Building Details
Year Built
1920
Buildings
1
Tenancy
Multi
Listing Agency:
Berkshire Hathaway HomeServices Professional Realty
Listed By:
Rick L Furmage · License #408337
(440) 862-0906
Source:
Theacclaimedrealty
Added: Sep 8
Changed: Oct 12
Last Checked: Oct 7 at 3:09PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Berkshire Hathaway HomeServices Professional Realty
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Investment Insights
Based on property information with market context.
This mixed-use building contains two distinct components: a commercial area on the lower level and a two-bedroom apartment above. Each portion has its own entrance, providing physical separation between the business and residential spaces. The lower unit previously served as a law office, while the upper residence is configured as an apartment.
Built in 1920, the property is located at 171 Broad St in Conneaut, Ohio. Its combination of commercial and residential space supports a straightforward mixed-use configuration within a single building.
Built in 1920, the property is located at 171 Broad St in Conneaut, Ohio. Its combination of commercial and residential space supports a straightforward mixed-use configuration within a single building.
Key Highlights
- Two‑unit mixed‑use building with commercial and residential components
- Two‑bedroom apartment located on the upper level
- Separate entrances serve the commercial and residential spaces
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$11,722
Cap Rate
7.33%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$234,440
$234.4K
Cap Rate 7%
$167,457
$167.5K
Cap Rate 9%
$130,244
$130.2K
Market Conditions
NOI Build-Up for 1,608 SF
Gross rent
$20.8K $12.96/SF
− Vacancy
−$2.1K −$1.30/SF
EGI
$18.8K $11.66/SF
− OpEx
−$7.0K −$4.37/SF
NOI
$11.7K $7.29/SF
Area
Ashtabula County, OH
Vacancy
10.00%
Lease Rate
$12.96 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$234,440
Cap Rate 7%
$167,457
Cap Rate 9%
$130,244
Alternative Uses
Best Use
Mixed Use
$167.5K
$146.5K – $195.4K
NOI $11,722 @ 7.0% cap · market cap 7.33%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$299.7K
$262.2K – $349.6K
NOI $20,976 @ 7.0% cap · market cap 13.11%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
1
Office units
1
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
293
Businesses Nearby
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Business Placement
Demographics for 44030, OH
15,868
Population
7,211
Households
2.2
Avg Household Size
43
Median Age
17%
College-Educated
88%
High-School Grad
58.7 sq mi
ZIP Area
270
Density / Sq Mi
$57,264
Median Household Income
$30,785
Median Earnings
$757
Median Rent
$136,300
Median Home Value
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Former office space and an upstairs two-bedroom apartment have separate entrances.
Where is this mixed-use property located?
The property is located at 171 Broad St Conneaut, OH.
What is the asking price?
The asking price for this property is $160,000.
What are key features of this property?
This property features: Two‑unit mixed‑use building with commercial and residential components; Two‑bedroom apartment located on the upper level; Separate entrances serve the commercial and residential spaces
