240 Chestnut St Ravenna, OH 44266
- Office Properties & Spaces
- 2,700 SF
- 0.12 lot acres
Current Use by Public Records
- Richard C Lombardi / General Practice Attorney
- Ohio Title Agency LLC / Title Company
- Erb Legal LLC / Criminal Justice Attorney / Divorce Lawyer
Property Details for 240 Chestnut St
- Year built
- 1940
- Lot size
- 0.12 lot acres
- Property size
- 2,700 SF
- Property type
- Office Properties & Spaces
- APN
- 31-361-13-00-111
- APU
- 313611300111
Description
This exceptional 2700 square foot office building presents a unique investment opportunity in the heart of Downtown Ravenna, Ohio. Strategically located directly behind the Portage County Courthouse, this property enjoys high visibility and convenient access to county services and the city center. The building comprises three individual office units, each featuring two to three private offices, providing flexibility for various business needs. On-site parking is available in a dedicated lot situated in front of the building, ensuring convenient access for tenants and clients. Constructed in 1940 and thoughtfully remodeled in 1994, the building blends historical charm with modern functionality. The 0.12-acre lot provides ample space for parking and potential future expansion. This property is ideal for a variety of uses, from established businesses seeking a prominent downtown location to entrepreneurs looking for a well-maintained space to launch their ventures. Its central location and convenient amenities make it an attractive option for a wide range of potential occupants. The asking price of $250,000 represents a compelling investment opportunity in a thriving Ohio community. Don't miss this chance to acquire a valuable commercial property in a high-demand area.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $235,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $295,000
- 6.5%
- $325,000
- 7%
- $320,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $345,000
- Geo Method
- $305,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $245,000
- Retail
- $305,000
- Mixed-Use
- $330,000
- Hospitality
- $245,000
- Educational
- $285,000
- Residential Income
- $265,000
- Energy
- $315,000
- Income-Based Land
- $320,000
- Food Service
- $250,000
Location Insight
- Map
- Local Demand
- City
- Ravenna
- County
- Portage
- State
- Ohio
- Longitude
- -81.2435
- Latitude
- 41.1562
- CBSA code
- 10420
- CBSA name
- AKRON, OH METROPOLITAN STATISTICAL AREA
