Property profile

443 Main St Lancaster, OH 43130

OFF-MARKET
Parking lots & garages
Property ID
US66-3637388
0.18 ac lot
Entity Owned 8-yr Hold Free & Clear
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Property summary

AI-generated overview

This exceptional 7,116 square foot commercial property, situated on a 0.54-acre lot at 443 E Main Street in Lancaster, Ohio, presents a rare investment opportunity. The building boasts a prime corner location and comprises three parcels, offering significant flexibility and potential for expansion. The ground floor is currently configured for retail use, while the second level offers substantial residential space, recently remodeled to include a large kitchen, dining area, three bedrooms, three full bathrooms, one half-bath, and multiple sitting and living areas. Access to the second level is convenient, with entrances from both the building's interior and from Maple Street. The property's Neighborhood Commercial (CN) zoning allows for a diverse range of commercial and residential uses, making it ideal for a variety of ventures. Potential uses include continued operation as a retail space, conversion to a restaurant, establishment of an office, or even short-term rental. The substantial size of the lot and building, combined with the flexible zoning, presents significant redevelopment potential. The seller is open to owner financing, making this an attractive proposition for qualified buyers. This property offers a unique blend of existing income potential and significant upside for future development in a desirable Lancaster location.

Property profile

Verified
Property type Parking lots & garages
Use group PARKING GARAGE, PARKING STRUCTURE
Lot 0.18 ac (7,998 SF)
APN 053-51026.00
UPID US66-3637388

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Location

443 Main St Lancaster, OH 43130-3807
Lancaster metro Census 32200 COLUMBUS, OH METROPOLITAN STATISTICAL AREA
Google Maps

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
$225k
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
$225k

Owner & transaction history

since 2017
1 recorded transaction
2017
$45,000

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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