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381 Cline Avenue

Mansfield, OH 44907
  • $350,000
  • STATUS: Active
  • ON SITE: 57 Days
  • MLS #: 223002474
UPDATED: 26 min ago
$350,000
  • 0
    BEDS
  • 0.18
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
  • 2,123
    SQFT
  • $165
    $/SQFT
Type:
Commercial
Built:
1987
County:
Area:

School Ratings & Info

Description

**Please be discreet and do not disturb the ongoing business or employees** This is a fantastic opportunity for an I.R.S Section 1031 Like-Kind Exchange replacement property. The property is currently leased through the end of 2025 with two 2-year options, to Gentle Foot Care, LLC. The current base rent is $2,750 per month plus $733.59 per month in Taxes and Insurance. Net operating income is $33,000 offering a 9.4 cap rate. Beginning year 3 the lease contains 2% annual increases. Lease originated 01/01/2021 through 12/31/2025. Can be sold as a package with the 3255 E. Livingston location ($825,000). Strong tenant with over 13 locations in the State of Ohio. The parking lot will be resurfaced before the sale of this location.

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© 2023 Columbus Board of Realtors. All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by the MLS or Keller Williams Capital Partners. Data last updated: 2023-03-30T12:52:33.41.
www.susannecasey.com/homes/136585158
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381 Cline Avenue Mansfield, OH 44907

  • Price: $350,000
  • Status: Active
  • On Site: 57 Days
  • Updated: 26 min ago
  • MLS #: 223002474
0
Beds
0
Baths
0
½ Baths
0.18
Acres
2,123
SQFT
$165
$/SQFT
1987
Built
County:
Richland
Area:
Mansfield
Property Description
**Please be discreet and do not disturb the ongoing business or employees** This is a fantastic opportunity for an I.R.S Section 1031 Like-Kind Exchange replacement property. The property is currently leased through the end of 2025 with two 2-year options, to Gentle Foot Care, LLC. The current base rent is $2,750 per month plus $733.59 per month in Taxes and Insurance. Net operating income is $33,000 offering a 9.4 cap rate. Beginning year 3 the lease contains 2% annual increases. Lease originated 01/01/2021 through 12/31/2025. Can be sold as a package with the 3255 E. Livingston location ($825,000). Strong tenant with over 13 locations in the State of Ohio. The parking lot will be resurfaced before the sale of this location.
Exterior Features

Docks 0.00 Drive In Doors 0.00 Lot Size Frontage 78.98 Lot Size Side 100 Total Parking 15.00

Interior Features

Bldg Sq Ft 2123.00 Floors Above Ground 1.00 Max Cont Sqft Avail 2123.00 Minimum Sq Ft Available 2123.00

Property Features

Auction No Between Street1 Bertram Ave Between Street2 Hedeen Dr Commercial Sub Type Other Com Corp Limit Per Auditor Mansfield Expenses Paid By Landlord Building InsuranceRE Taxes For Exchange No For Lease No For Sale Yes Mult Use Office Services Available ElectricGasWater Tax District 027 Tax Year 2021 Taxes Yearly 5657.00 Township Mansfield

Listing provided courtesy of Cole Griesinger of Hanna Commercial, Llc: (614) 888-3456.


© 2023 Columbus Board of Realtors. All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by the MLS or Keller Williams Capital Partners. Data last updated: 2023-03-30T12:52:33.41.
 
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Keller Williams Capital Partners
100 E Wilson Bridge Road
Columbus OH, 43085