508 6th Ave, Lancaster, OH 43130-2449

This exceptional mixed-use property at 508 W 6th Avenue, Lancaster, OH, presents a compelling investment opportunity. The 6,080 square foot building sits on a 0.26-acre lot and comprises two income-generating residential units. Each of the two 2-bedroom, 1-bathroom apartments currently commands a monthly rent of $975 and $1,050 respectively. Significant additional income potential exists within the substantial commercial space. The first floor offers 1,800-2,400 square feet of retail space, projected to lease at $10-$16 per square foot. A sizable basement area, ranging from 900-1,200 square feet, is also available for lease, with estimated rental rates of $6-$12 per square foot. Further enhancing the property's income stream is a detached 27' x 42' garage, previously rented for $650 per month, and a billboard generating an additional $100 monthly. The property consists of two parcels and offers ample on- and off-street parking. Existing leases and deposits will transfer to the buyer at closing. This property offers substantial upside potential for a savvy investor. Do not disturb tenants.