114 Church St Marion, OH 43302
- Office buildings
- 0.25 lot acres
Current Use by Public Records
- Office buildings
Property Details for 114 Church St
- Year built
- 1998
- Construction
- BRICK
- Lot size
- 0.25 lot acres
- Property type
- 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.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $140,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $130,000
- 6.5%
- $130,000
- 7%
- $120,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $120,000
- Geo Method
- $110,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $155,000
- Retail
- $120,000
- Mixed-Use
- $130,000
- Hospitality
- $140,000
- Educational
- $150,000
- Residential Income
- $130,000
- Energy
- $125,000
- Income-Based Land
- $140,000
- Food Service
- $125,000
Location Insight
- Map
- Local Demand
- City
- Marion
- County
- Marion
- State
- Ohio
- Longitude
- -83.1292
- Latitude
- 40.5874
- CBSA code
- 32020
- CBSA name
- MARION, OH MICROPOLITAN STATISTICAL AREA