231 Main Ave Warren, OH 44481
- Strip malls
- 16,026 SF
- 1.06 lot acres
Current Use by Public Records
- Premium Pest Control Warren / Pest Control Service
Property Details for 231 Main Ave
- Year built
- 1968
- Lot size
- 1.06 lot acres
- Property size
- 16,026 SF
- Property type
- Strip malls
- Property subtype
- Neighborhood centers
- APN
- 39-527835
- APU
- 39527835
Description
This exceptional 16,000 square foot retail shopping center and storefront, located at 231 Main Ave SW in Warren, Ohio (44481), presents a lucrative investment opportunity. Boasting a total of 32,000 net rentable square feet across a single story building on a one-acre lot, the property is currently 100% occupied by a diverse mix of retail and service tenants. The asking price is $1,750,000, translating to $109.38 per square foot. Situated in the heart of downtown Warren, this plaza enjoys a highly visible location directly across from the courts, fire, and police stations, and just a short distance from the new Kimberly Clark $2 billion development. Extensive renovations completed between 2021 and 2022 encompassed a new roof, updated ceilings, and completely remodeled suites, including electrical and plumbing systems. The property benefits from a net lease structure, with tenants responsible for their own taxes and utilities. Two tenants are established long-term occupants, while others have recently signed new leases, ensuring consistent income and stability. This fully leased, prime retail location offers a compelling investment opportunity with strong tenant occupancy and recent capital improvements. The property's central location and proximity to major developments promise continued growth and high returns.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $425,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $345,000
- 6.5%
- $320,000
- 7%
- $315,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $370,000
- Geo Method
- $305,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $405,000
- Retail
- $300,000
- Mixed-Use
- $390,000
- Hospitality
- $330,000
- Educational
- $370,000
- Residential Income
- $350,000
- Energy
- $415,000
- Income-Based Land
- $415,000
- Food Service
- $320,000
Location Insight
- Map
- Local Demand
- City
- Warren
- County
- Trumbull
- State
- Ohio
- Longitude
- -80.8195
- Latitude
- 41.2345
- CBSA code
- 49660
- CBSA name
- YOUNGSTOWN-WARREN-BOARDMAN, OH-PA METROPOLITAN STATISTICAL AREA
