Historic Five-Building Mixed-Use
For Sale
Contact for pricing
Pending
48 W Main St, Shelby, OH 44875
Five historical downtown buildings offer multifamily conversion work, retail and shared office/cowork space, plus substantial parking.
Property Size51,000 SF
Days on Market148
Property Features for 48 W Main St
General Information
Standard status
Pending
Size
51,000 SF
Total Parking Spaces
34
Property subtype
Office
Additional Details
Multifamily Units
14
Listing Agency:
SVN | Wilson Commercial Group, LLC
Listed By:
Melanie Wollenberg · License #211501
(614) 778-6383
Source:
Crexi
Added: Apr 11
Changed: Aug 14
Last Checked: Aug 31 at 10:00PM
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 SVN | Wilson Commercial Group, LLC
Investment Insights
Based on property information with market context.
This for-sale mixed-use redevelopment includes an entire five-building historical block of downtown Shelby, Ohio, with approximately 51,000 SF in total. The project is a fractured redevelopment asset with an estimated $1.0 million already invested, and a new owner would be positioned to build on improvements completed to date. The planned redevelopment is for multifamily conversions alongside some retail, with offices/cowork shared premises. Fourteen multifamily units have substantial buildout completed, and the former bank building features an historical façade and other “elegant” building characteristics. As of this offering, there are no tenants in the buildings.
The property includes substantial parking. The “annex” building housing the former bank drive-through includes an underground garage with 12–14 spaces, plus 8–10 additional spaces above ground. There are also 10 spaces in a separate lot across the street, for a total of 28–34 spaces.
The City of Shelby and Richland County have established a CRA (Community Redevelopment Area), which provides tax benefits. As a historical building, the Richland County Economic Development Commission can assist with applications for historical tax credits. The offer also includes a $100,000 assumable loan in place, subject to mutually agreed upon terms and purchase price.
The property includes substantial parking. The “annex” building housing the former bank drive-through includes an underground garage with 12–14 spaces, plus 8–10 additional spaces above ground. There are also 10 spaces in a separate lot across the street, for a total of 28–34 spaces.
The City of Shelby and Richland County have established a CRA (Community Redevelopment Area), which provides tax benefits. As a historical building, the Richland County Economic Development Commission can assist with applications for historical tax credits. The offer also includes a $100,000 assumable loan in place, subject to mutually agreed upon terms and purchase price.
Key Highlights
- Entire five‑building historical downtown Shelby, OH block with approx. 51,000 SF for multifamily conversion, retail, and shared office/cowork space.
- 14 multifamily units have substantial buildout completed as part of a mixed‑use redevelopment plan.
- Assumable $100,000 loan in place, assumable by a new owner subject to mutually agreed terms and purchase price.
Property Analytics
Property Profile
Current Use
Lease Details
14
Residential units
Location Intelligence
Trade Area within ½ mile
265
Businesses Nearby
Explore this area
Business Placement
Demographics for 44875, OH
13,900
Population
6,211
Households
2.2
Avg Household Size
42
Median Age
15%
College-Educated
93%
High-School Grad
81.5 sq mi
ZIP Area
171
Density / Sq Mi
$60,669
Median Household Income
$35,774
Median Earnings
$727
Median Rent
$146,500
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Five historical downtown buildings offer multifamily conversion work, retail and shared office/cowork space, plus substantial parking.
Where is this mixed-use property located?
The property is located at 48 W Main St Shelby, OH.
What are key features of this property?
This property features: Entire five‑building historical downtown Shelby, OH block with approx. 51,000 SF for multifamily conversion, retail, and shared office/cowork space.; 14 multifamily units have substantial buildout completed as part of a mixed‑use redevelopment plan.; Assumable $100,000 loan in place, assumable by a new owner subject to mutually agreed terms and purchase price.
