4268 Erie Ave Massillon, OH 44662

Property Details for 4268 Erie Ave

Year built

1945

Lot size

0.97 lot acres

Property type

Office Properties & Spaces

Property subtype

Mixed-use properties

Description

This exceptional mixed-use property in Navarre, Ohio, presents a compelling investment opportunity for owner-users. Situated on a 0.97-acre lot at 4268 Erie Ave SW, this property boasts four buildings, including an all-brick professional office building with three separate units. The upper level of the office building features six offices, a breakroom/kitchenette, restrooms, and a large conference room. The lower level houses two currently occupied small business units. Complementing the office space are two long-term rental homes (month-to-month leases) and a large storage building with seven currently rented units. The property offers ample parking with eight spaces. Built in 1945, this Class B property generates a substantial annual net operating income (NOI) exceeding $78,500, representing a 12.08% cap rate. The property is conveniently located on a high-traffic section of State Route 21, just south of the intersection with Navarre Road. This is a gross lease property with no credit rating available for the tenants. The property's APN is 04400221. The net rentable square footage is 19 square feet. This turnkey investment offers significant income potential and the advantage of owner-user occupancy. Don't miss this chance to acquire a well-established, cash-flowing property in a desirable location.

Location Insight

City

Massillon

County

Stark

State

Ohio

Longitude

-81.5166

Latitude

40.7469