114 Church StMarion, OH 43302

Property Details for 114 Church St

Year built

1998

Construction

BRICK

Lot size

0.25 AC

Property type

Office properties

Property subtype

Office buildings

APN

12-301000.1100

APU

123010001100

Description

This exceptional mixed-use property at 114 W Church Street, situated in the heart of Marion, Ohio's revitalized downtown, presents a unique investment opportunity. Boasting 1,666 square feet on a 0.25-acre lot, this building benefits from its highly visible corner location at Main Street and Church Street, placing it directly within the "Main Street Reimagined" project. The property is surrounded by a thriving mix of established and new businesses, enjoying proximity to Busby Park and the upcoming Lydia project. Its central location offers unparalleled access to downtown amenities, including restaurants, shops, banks, and entertainment venues. The convenience extends to the popular "Third Thursday" downtown events, happening right outside the building's doorstep. Addressing potential parking concerns, a substantial 7,900 square foot parking lot, currently leased for events such as the Popcorn Festival, provides additional income potential. Recent upgrades include a new gas furnace (2022) and new air conditioning (2021), ensuring efficient and comfortable operation. This property's prime location, coupled with its income-generating potential and recent improvements, makes it an ideal investment for a discerning buyer seeking a thriving downtown presence. The numerous possibilities for this versatile space make it a truly exceptional opportunity. The asking price is $349,900.

• CAP approach

  CAP return

  Valuation

  6%

  $1,613,467

  6.5%

  $1,489,354

  7%

  $1,382,972

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,020,708

  Geo Method

  $1,020,708

• Alternative Use

  Use

  Valuation

  Residential

  $1,846,800

  Hospitality

  $1,691,658

  Educational

  $1,407,440

  Medical

  $1,455,844

  Retail

  $2,189,351

Location Insight

City

Marion

County

Marion

State

Ohio

Latitude

40.5874

Longitude

-83.1292

CBSA code

32020

CBSA name

MARION, OH MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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