36 Ely St, Alliance, OH 44601-1702

This exceptional mixed-use property, located at 36 W Ely St, Alliance, OH 44601, presents a compelling investment opportunity. The 4,352 square foot building, constructed in 1966, currently houses a thriving laundromat and snack shop, both under lease. The property boasts a strong 8.48% capitalization rate, generating a net operating income (NOI) of $42,000. The asking price is $495,000, translating to $113.74 per square foot. Significant recent improvements include a new roof, HVAC system, and electrical work, all completed in 2021. The parking lot has also been recently patched and sealed. The seller is responsible for exterior maintenance and property taxes; tenants cover interior maintenance and insurance. The property is zoned for mixed use, and the seller has obtained city approval for an additional building on the one-acre lot behind the main structure. This presents significant potential for expansion, with possibilities including a restaurant, car wash, hair salon, or retail shop. This turnkey investment offers a stable income stream with considerable upside potential. Financial details and lease information are available upon request. Don't miss this chance to acquire a profitable and expandable commercial property in a desirable location.