$995,000
652-656 Youngstown Warren RD Niles, OH 44446
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$995,000
Est. payment /mo
10,582 SqFt
UPDATED:
09/30/2024 05:35 PM
Key Details
Property Type Commercial
Sub Type Office
Listing Status Pending
Purchase Type For Sale
Square Footage 10,582 sqft
Price per Sqft $94
Subdivision Weathersfield Township Sec 04 O
MLS Listing ID 4434746
HOA Y/N No
Abv Grd Liv Area 10,582
Year Built 1984
Annual Tax Amount $30,005
Lot Size 1.080 Acres
Acres 1.08
Property Description
Court Appointed Receiver, Prodigy Properties, is pleased to present the opportunity to acquire 652-656 Youngstown Warren Rd., a medical office investment, located in Niles, OH, being offered with a revised price of $995,000. Niles is considered a submarket of Youngstown and is less than 8 miles Northwest of Youngstown, and less than 6 miles Southeast of Warren. Constructed in 1984, renovated in 2002, this medical office building features over 10,500 SF of medical or professional office space.
INVESTMENT HIGHLIGHTS
-Committed, long-standing tenants, all tenants have occupied their space for more than 15 years and have a history of consistent renewals.
-Free & clear of debt, the property will be delivered free and clear of debt, allowing a new owner the opportunity to pursue a debt structure that complements their investment strategy.
- Amenity base, within close proximity is an abundance of restaurants (fast food and casual), retail (shopping and grocery) & service providers.
- Opportunity to add value, the offering provides the ability to add value through the lease-up of the currently vacant medical office space at market rents.
- Attractive Return Metrics, the asset is aggressively priced with a projected cap rate in excess of a 12% providing investors with a low risk, high return investment opportunity with an already existing & proven rent base.
INVESTMENT HIGHLIGHTS
-Committed, long-standing tenants, all tenants have occupied their space for more than 15 years and have a history of consistent renewals.
-Free & clear of debt, the property will be delivered free and clear of debt, allowing a new owner the opportunity to pursue a debt structure that complements their investment strategy.
- Amenity base, within close proximity is an abundance of restaurants (fast food and casual), retail (shopping and grocery) & service providers.
- Opportunity to add value, the offering provides the ability to add value through the lease-up of the currently vacant medical office space at market rents.
- Attractive Return Metrics, the asset is aggressively priced with a projected cap rate in excess of a 12% providing investors with a low risk, high return investment opportunity with an already existing & proven rent base.
Location
State OH
County Trumbull
Interior
Fireplace No
Building
Story 1
Schools
School District Niles Csd - 7818
Others
Tax ID 25-900372
Special Listing Condition Real Estate Owned
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Listed by Jeffrey S Lane • Prodigy Properties • 513-841-7000 prodigy@prodigyprop.com