15,000 sq. ft. retail property on 2 acres facing Rt. 62 near Berlin, Ohio; Value add; Uniquely designed property ready for multiple retail tenants

7007 County Road 672 Berlin, OH 44610

7007 County Road 672, Berlin, OH, 44610
7007 County Road 672, Berlin, OH, 44610 7007 County Road 672, Berlin, OH, 44610 7007 County Road 672, Berlin, OH, 44610 7007 County Road 672, Berlin, OH, 44610 7007 County Road 672, Berlin, OH, 44610
FOR SALE
Property Type:
Free Standing Building
Amount:
$995,000
Last Verified:
Jul 14, 2022

Highlights

  • Opportunity to earn double-digit returns from the high demand for retail space
  • Offered for sale at less than ½ replacement cost
  • Pride of ownership, mixed-use property with visibility on U.S. Route 62
  • Located in the center of Holmes County which attracts over 3 million visitors annually and is one of the top visitor destinations in Ohio because of its large Amish population and culture
  • Unique quality constructed Building
  • Lower-level space for storage and workshop / light manufacturing uses (basement is walkout for easy loading-unloading)
  • Retail space on the first floor can accommodate as many as 12 to 18 tenants in a non-walled atmosphere which has become a successful and popular form of retailing amongst Holmes County retailers
  • Office space on the second and third floor can accommodate 1 or 2 tenants and has separate bathrooms and shower facilities
  • An ideal setting for restaurant/retail combination.
  • Take the Virtual Tour: https://www.youtube.com/watch?v=-drAgdqzQnc

Description

Consists of a unique 15,000 square foot mixed-use building and parking lot on 2 acres. The site is nestled into a breath-taking setting of farm housing and vegetation that are the hallmarks of Holmes County, Ohio where the largest concentrations of Amish population in the U. S. live. The property provides an opportunity to create a mixed-use investment that will accommodate multiple tenants in an eclectic environment. Utilizing an open-space retail concept with no hard walls, it is estimated that between 12 to 15 tenants could be accommodated in varying sizes from 200 to 2000 sq. ft. The market rents for these types of spaces can range between $25 to $30 per useable square foot. The setting and location could easily be a destination that could include a combination restaurant/food/retail environment with visibility and signage on U.S. Rt 62. The current occupant will vacate upon sale of the property.
OPPORTUNITY
An Investor/Developer can repurpose/reimagine this unique property into an exciting and attractive venue in one of Ohio’s premier visitor destinations. Demand for retail space has increased dramatically over the past year. At the same time, construction and land costs have soared making new construction of space cost-prohibitive. This existing space can be made available now to take advantage of that demand at affordable rents for the tenants. With a projected rental income of over $300,000, the return on investment is projected to be in the mid to high teens at the asking price.
Take the Virtual tour: https://www.youtube.com/watch?v=-drAgdqzQnc

Located 3 miles north of Berlin, Ohio in Holmes County with visibility from U.S. Route 62. Holmes County is the home to the second-largest Amish population of any county in the U.S. drawing millions of visitors from all over the world. It benefits from being approximately a 1.5-hour drive from Pittsburgh, PA, Cleveland, Columbus, Akron, Youngstown and Canton, Oh and Wheeling, WV.


Year Built: 1994
Building Size: 15076sq ft
Lot Size: 2.0 acres


Documents

Sale Offering Memorandum

Map of 7007 County Road 672, Berlin, OH, 44610

Presented by:

Request additional information


Send a message
Share this Listing

Not Interested In This Property? TheBrokerList.com Can Help
Looking for an office, retail space, warehouse or anything else?
Contact a Licensed Member Today

What are Real Estate Incentives?

Real Estate incentives range widely and have been overlooked by the Commercial Multiple Listing Services (MLS) for decades. Real estate incentives is a generic term used to group any number of programs, such as tax incentives, that are designated by an agency for a geographic area."

Why are Real Estate Incentives Important and to Whom?

"Incentives" are vital today and in the future because:

  • U.S. Public: Many incentives focus on job creation and Affordable Housing
  • Investors and Commercial Developers use incentives to reduce financial risk, obtain gap financing, etc. Investors and developers look for property listings with incentives available.
  • Commercial Real Estate Brokers, in mass, unfortunately do not know about incentives tied to their listings
  • Entire Supply Chain of Real Estate Development such as small and large companies who will provide goods and services to new and revitalized properties.