418 2Nd StIronton, OH 45638

Property Details for 418 2Nd St

Year built

1940

Lot size

0.27 AC

Property type

Retail properties

Property subtype

Retail space

APN

34-044-1300.000

APU

340441300000

Description

This exceptional investment opportunity presents a 5,300 square foot retail shopping center in Ironton, Ohio, currently boasting 100% occupancy. The property features two tenants: a Sherwin-Williams store, a Fortune 500 company with a BBB credit rating and over $20 billion in annual revenue, and Liberty Tattoo, a long-term tenant since 2013. The Sherwin-Williams lease, in place since 1991, has been renewed five times, demonstrating strong tenant commitment. The property enjoys a prime location at a signalized intersection with dual access from Adams Street and 2nd Street, surrounded by a dense concentration of major retailers including Dollar Tree, Speedway, Long John Silver's, Wendy's, Holiday Inn, and CVS. This strategic positioning, coupled with Sherwin-Williams' e-commerce-resistant business model and limited local competition, ensures a stable and resilient investment. The property generates a strong net operating income (NOI) of $26,517, resulting in an attractive 7.00% cap rate. The asking price is $378,814. This is a modified net lease investment with a multi-tenant occupancy. The property consists of one building with two units. This is a rare opportunity to acquire a well-positioned, high-performing retail property with a strong tenant roster in a thriving market.

• CAP approach

  CAP return

  Valuation

  6%

  $2,878,380

  6.5%

  $2,656,966

  7%

  $2,467,183

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,738,368

  Geo Method

  $2,738,368

• Alternative Use

  Use

  Valuation

  Residential

  $2,241,250

  Hospitality

  $2,052,973

  Educational

  $1,708,050

  Medical

  $1,766,792

  Retail

  $2,656,966

Location Insight

City

Ironton

County

Lawrence

State

Ohio

Latitude

38.532

Longitude

-82.6843

CBSA code

26580

CBSA name

HUNTINGTON-ASHLAND, WV-KY-OH METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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