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    516 High St Wooster, OH 44691

    For Sale
    $199,000

    High-street retail & rental home. Great ROI!

    Property size:
    1,852 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    360
    This exceptional mixed-use property in Wooster, Ohio, presents a compelling owner-user or investment opportunity. Located at 516 W High St, this 1,852 square foot building boasts a versatile layout ideal for retail or office space. The property features a reception area, lobby, seven offices, storage rooms, and restrooms. Two separate entrances offer flexibility for dividing the space to suit various business needs. Currently, the retail space is vacant, providing immediate potential for lease income or owner-occupancy. A newer roof adds to the property's value. The property also includes a separate rental home located at a different address (338 Hall St), generating additional income. This 976 square foot bungalow features two bedrooms, one bathroom, a basement, and currently leases for $791 per month, with the tenant responsible for all utilities. The property sits on a 0.28-acre lot and was built in 1987. The property is currently 100% occupied, offering immediate cash flow. The net lease structure ensures a streamlined ownership experience. This is a multi-tenant property with significant upside potential. The Wayne County location and High Street address provide excellent visibility and accessibility. The asking price is $199,000. This is a rare opportunity to acquire a mixed-use property with both immediate income and significant long-term growth potential. The APN is 59-01396-000.

    Property Features for 516 High St

    General Information

    Property type
    Mixed-use properties
    Square Feet
    1,852 SF
    Lot Size
    12,197 SF

    Building Details

    Year Built
    1987

    HighLights

    • Mixed‑use commercial property in Wooster, OH, offering owner‑user or investment potential.
    • 1,852 sq ft building with retail/office space, reception area, seven offices, storage, and restrooms; two separate entrances.
    • Currently 100% occupied, generating immediate cash flow via net lease structure.
    • Includes a separate 976 sq ft, 2‑bed/1‑bath rental home leasing for $791/month.
    • 0.28‑acre lot, newer roof, asking price $199,000.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    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
    Wooster
    County
    Wayne
    State
    Ohio
    Longitude
    -81.770665090222
    Latitude
    40.843697045587

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    FAQs

    What type of property is this?
    Mixed-use property - High-street retail & rental home. Great ROI!
    Where is this mixed-use property located?
    The property is located at 516 High St Wooster, OH.
    What is the asking price?
    The asking price for this property is $199,000.
    What are key features of this property?
    This property features: Mixed-use commercial property in Wooster, OH, offering owner-user or investment potential.; 1,852 sq ft building with retail/office space, reception area, seven offices, storage, and restrooms; two separate entrances.; Currently 100% occupied, generating immediate cash flow via net lease structure.
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    516 High St Wooster, OH 44691
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    Wooster, OH 44691
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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 Wooster, OH 44691
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