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    117- Main St Oberlin, OH 44074

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    For Sale
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    1.8-acre C-1 zoned property, high potential.

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This exceptional 1.8-acre property, located at 117-141 South Main Street in Oberlin, Ohio, presents a unique investment opportunity. Situated in the heart of Oberlin's historic downtown district, this C-1 zoned property encompasses ten contiguous parcels spanning a full city block from Vine Street to Groveland Street. The site currently features a diverse mix of existing structures, including two rental homes, a strip center, an automotive repair shop, and a commercial building, along with some vacant land. The previous underground storage tanks have been removed, and a No Further Action (NFA) determination has been issued for the auto repair parcel. The flexible C-1 zoning allows for a wide range of uses, including retail, restaurants, services, offices (general, professional, administrative, or business), medical offices and clinics, schools, hotels, and dwellings. This zoning specifically permits mixed-use development, allowing for apartments above retail or office spaces. Oberlin, a vibrant community with a rich history and a strong connection to Oberlin College (nearly 3,000 students), offers a population of approximately 8,500 residents. This prime location and versatile zoning make this property ideal for redevelopment or expansion, catering to the needs of both the college community and the wider city population. The property's APN numbers are: 0900086103001

    Property Features for 117- Main St

    General Information

    Property type
    Multifamily properties
    Lot Size
    78,408 SF

    HighLights

    • 1.8‑acre property located at 117‑141 South Main Street, Oberlin, OH.
    • C‑1 zoned, encompassing ten contiguous parcels, a full city block from Vine to Groveland Streets.
    • Includes existing structures: two rental homes, strip center, auto repair shop, commercial building, and vacant land.
    • Previous underground storage tanks removed; NFA issued for auto repair parcel.
    • Flexible C‑1 zoning allows diverse uses: retail, restaurants, offices, medical, schools, hotels, and residential; mixed‑use development permitted.
    • Located in Oberlin's historic downtown, near Oberlin College (approx. 3,000 students), serving a population of approx. 8,500.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Map

    City
    Oberlin
    County
    Lorain
    State
    Ohio
    Longitude
    -82.217259
    Latitude
    41.2884281

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    FAQs

    What type of property is this?
    Multifamily property - 1.8-acre C-1 zoned property, high potential.
    Where is this multifamily property located?
    The property is located at 117- Main St Oberlin, OH.
    What are key features of this property?
    This property features: 1.8-acre property located at 117-141 South Main Street, Oberlin, OH.; C-1 zoned, encompassing ten contiguous parcels, a full city block from Vine to Groveland Streets.; Includes existing structures: two rental homes, strip center, auto repair shop, commercial building, and vacant land.
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    117- Main St Oberlin, OH 44074
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    Oberlin, OH 44074
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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
    117- Main St Oberlin, OH 44074
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