5960 Center Rd Valley City, OH 44280
- Auto shops
- 9,320 SF
- 4.00 lot acres
Current Use by Public Records
- Progressive Construction Group / Construction Company
Property Details for 5960 Center Rd
- Year built
- 1967
- Lot size
- 4.00 lot acres
- Property size
- 9,320 SF
- Property type
- Auto shops
- APN
- 025-01D-03-002
- APU
- 02501D03002
Description
This exceptional investment opportunity encompasses a 22.33-acre site in Valley City, Ohio, featuring four industrial buildings totaling 19,048 square feet. The property boasts a strong tenant roster, anchored by Progressive Construction Group, a leader in wall foundations, under a 10-year sale-leaseback agreement. Additional tenants include Environmental Stone Works and a trucking company providing oil changes and maintenance, generating consistent rental income. Building A, constructed in 1967 and recently renovated, comprises 9,300 square feet of office and warehouse space, featuring new HVAC (2022), grade-level doors, and ample utilities. Building B (7,040 sq ft, built 1973) and Building C (2,688 sq ft, built 1987) offer additional warehouse space with multiple grade-level doors. A planned 1,500-square-foot office addition (Building D) is slated for completion in early 2024, further enhancing the property's value. The property also includes a 40+ unit semi-truck parking area. A Phase 1 environmental assessment was completed on August 11, 2021. Utilities include Columbia Gas (one meter), Ohio Edison (three meters), and Armstrong Cable. The property utilizes a well water and septic system. Projected annual property taxes are $43,376.27. This multi-tenant complex presents a compelling investment opportunity with significant long-term potential.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $2,615,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $2,340,000
- 6.5%
- $2,245,000
- 7%
- $2,545,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $2,585,000
- Geo Method
- $2,215,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $2,540,000
- Retail
- $2,240,000
- Mixed-Use
- $2,720,000
- Hospitality
- $2,200,000
- Educational
- $2,370,000
- Residential Income
- $2,570,000
- Energy
- $2,130,000
- Income-Based Land
- $2,390,000
- Food Service
- $2,815,000
Location Insight
- Map
- Local Demand
- City
- Valley City
- County
- Medina
- State
- Ohio
- Longitude
- -81.9014
- Latitude
- 41.2362
- CBSA code
- 17460
- CBSA name
- CLEVELAND-ELYRIA-MENTOR, OH METROPOLITAN STATISTICAL AREA
