201 Reed St, Spencer, OH 44275-8700
- Warehouses
- 1,536 SF
- 1.54 lot acres
Current Use by Public Records
- Legro Inc. / Construction Company
Property Details for 201 Reed St
- Year built
- 1985
- Lot size
- 1.54 lot acres
- Property type
- Warehouses
- Property subtype
- Self storage facilities
- APN
- 037-27A-05-079
- APU
- 03727A05079
Sales History
| Date | Price | Buyer | Seller | Deed Type | Mortgage |
|---|---|---|---|---|---|
| Aug 4, 2005 | $151,000 | Preston Industries INC | Kenzig,christian A & Kimberly A | Warranty Deed | $126k · Farmers Savings Bank |
| Jan 21, 2003 | $155,000 | Farmers Savings Investment Co | Michael Sullivan INC | Trustees Deed · related | — |
| — | — | Christian A Kenzig | — | Deed Of Trust · related | $126k · Farmers Savings Bank |
Description
This exceptional investment opportunity presents a fully occupied multi-unit building situated on a substantial 3.43-acre lot in Spencer, Ohio. The property boasts a generous 10,032 square feet of existing rentable space, currently generating over $4,500 per month in rental income. All units are presently leased, demonstrating strong tenant demand and immediate cash flow. The significant acreage offers substantial potential for future development. The expansive land allows for the addition of numerous mini-storage units, flexible commercial spaces, or a variety of other commercial uses, significantly increasing the property's value and rental income. This presents a unique chance to capitalize on existing income while simultaneously expanding the property's revenue streams through strategic development. The property's location in Spencer, OH, offers convenient access to local amenities and transportation routes. This is an ideal investment for those seeking a high-yield, multi-faceted commercial property with significant upside potential. The asking price is $699,000. This represents a compelling opportunity to acquire a profitable, established business with considerable room for growth and expansion. The existing tenant base provides immediate return on investment, while the undeveloped land offers a pathway to long-term appreciation and increased profitability.
Value Estimations
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Location Insight
- Map
- Local Demand
- City
- Spencer
- County
- Medina
- State
- Ohio
- Longitude
- -82.1258
- Latitude
- 41.0935
- CBSA code
- 17460
- CBSA name
- CLEVELAND-ELYRIA-MENTOR, OH METROPOLITAN STATISTICAL AREA
