Property profile

651 Main St Lancaster, OH 43130

OFF-MARKET
Office buildings
Property ID
US66-1161523
1,623 SF 0.06 ac lot Built 1948
Entity Owned 3-yr Hold ~ Est. High Equity
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Property summary

AI-generated overview

This exceptional commercial property at 651 E Main Street, Lancaster, Ohio, presents a unique investment opportunity. The property consists of two parcels totaling 0.36 acres, offering significant flexibility for a variety of uses. The main parcel, APN 05-35115-100, features a 2,100 square foot building situated on 651 E Main Street, conveniently located near the intersection of Mt Pleasant E St. This building includes a 30 x 70 foot structure equipped with heating, air conditioning, and a restroom. A paved parking lot is also included on this parcel. The second parcel, APN 05-35115-100, provides additional space that can be utilized for expanded operations, extra parking, or other supplementary needs. The property is currently available for lease and is ideally suited for a single tenant seeking a well-maintained building with ample parking in a desirable Lancaster location. The zip code is 43130. This property offers a rare combination of building space and additional land, making it an attractive option for businesses seeking a strategic location in a thriving Ohio community. The property is ready for immediate occupancy.

Property profile

Verified
Property type Office buildings
Use group OFFICE BUILDING (MULTI-STORY)
Year built 1948
Construction STEEL FRAME
Total area 1,623 SF
Lot 0.06 ac (2,644 SF)
APN 053-51151.00
UPID US66-1161523

Cap rate & NOI

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

Location

651 Main St Lancaster, OH 43130-3904
Lancaster metro Census 32200 COLUMBUS, OH METROPOLITAN STATISTICAL AREA
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Value estimations

Realmo proprietary · 4 methods
AI Approach AI
$210k
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
$195k

Owner & transaction history

since 2023
Last sale
$257,500
2 recorded transactions
2023
$257,500
2012
$323,400

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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