2245 Cherry Ave Alliance, OH 44601
- Retail properties
- 0.12 lot acres
Current Use by Public Records
- Retail properties
Property Details for 2245 Cherry Ave
- Year built
- 1920
- Lot size
- 0.12 lot acres
- Property type
- Retail properties
Description
This exceptional retail property at 2245 Cherry Avenue in Alliance, Ohio, presents a unique investment opportunity. Situated on a 0.12-acre lot, this building offers a thriving, established three-chair barbershop/salon, perfectly positioned for immediate income generation. The salon is currently equipped and ready for a new owner to step in and continue operations. Adding to the investment potential are two income-producing residential units: a one-bedroom apartment and a studio apartment, both currently occupied by long-term tenants under one-year leases, generating a combined monthly income of $1075. This consistent rental income stream significantly contributes to the property's overall return. The property boasts recent significant upgrades, including a new roof, new windows, a new furnace, and several new doors, minimizing maintenance concerns and ensuring long-term value. Its prime location offers exceptional walkability to Mount Union University, providing a steady stream of potential customers for the barbershop/salon. This turnkey operation presents a rare chance to acquire a profitable, low-maintenance commercial property with immediate cash flow and significant upside potential. The combination of established commercial space and reliable rental income makes this an attractive investment for both seasoned and first-time investors seeking a strong return on investment in a desirable Ohio location. The property is priced at $150,000.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Alliance
- County
- Stark
- State
- Ohio
- Longitude
- -81.10497
- Latitude
- 40.8992
