Northwood Ct Warren, OH 44483

Property Details for Northwood Ct

Year built

1991

Lot size

2.34 lot acres

Property type

Commercial real estate

Description

This exceptional investment opportunity presents 2.34 acres of land in Howland Township, Warren, Ohio, encompassing four finished garage buildings. These buildings house a total of fourteen individual, single-car garage bays, each equipped with an automatic overhead door and electric service. The garages boast block foundations, attractive cedar trim, and aluminum siding, showcasing quality construction. Three of the four-bay units feature recently updated shingles. Currently, most of the garages are rented, generating a gross annual income of $15,960. Individual tenants are responsible for their own electricity, averaging approximately $40 per month. The current rental rate of $95 per month per garage is below market value, presenting a significant opportunity to increase revenue. Leases are primarily one-year terms. There are no homeowner's association (HOA) fees associated with this property. This is an absolute auction with online bidding commencing Monday, December 9, 2024, at 10:00 AM, and live on-site bidding beginning Wednesday, December 11, 2024, at 12:30 PM. The property is conveniently located in Northwood Court. This is a rare chance to acquire a well-maintained, income-producing property with significant upside potential.

Location Insight

City

Warren

County

Trumbull

State

Ohio

Longitude

-80.7668

Latitude

41.2439