Park Professional Building

Highlights

• 90% Occupied
• $108,072 Gross Annual Rents
• Recent Renovations include lighting, flooring, fixtures and more
• Excellent Downtown Location
• Off-street Parking

Description

Authorized Price Reduction to $1,300,000! This is a prime investment opportunity in the heart of Downtown Mansfield, Ohio. 70 Park Avenue West has seen several renovations and is currently 90% occupied. Located on a main thoroughfare of Mansfield, this property has plenty of upside opportunities and is even located in an opportunity zone. Take advantage of tax incentives and other benefits designed to spur economic growth and revitalization. The architecture of this property reflects Mansfield's rich history, making it a strong candidate for historical credits classification. This classification has been successfully secured by numerous downtown buildings, and future owners may find similar success, further enhancing the property's appeal and value as an investment.
The office building boasts 28,000 square feet of versatile space, suitable for a variety of business needs. The updates have ensured modern comforts and conveniences while preserving the building's original charm. The attractive space offers endless possibilities for a corporate headquarters, a creative agency, or a thriving co-working space. 70 Park Avenue West represents an attractive investment opportunity in downtown Mansfield with its unique combination of location, potential tax benefits, and flexible space.

Mansfield, Ohio, often referred to as the heart of Ohio, is a thriving and expanding small city nestled between two of the state's largest urban centers - Columbus and Cleveland. This strategic location provides Mansfield with a unique blend of small-town charm and big-city convenience, making it an attractive destination for families, businesses, manufacturing, and tourists alike.

One of Mansfield's most notable claims to fame is its role as the filming location for the iconic blockbuster film, "The Shawshank Redemption". The Ohio State Reformatory, a historic prison where much of the movie was filmed, has since become a must-visit spot for film buffs and history enthusiasts. With its towering, castle-like structure and fascinating history, the reformatory is just one example of the rich cultural heritage that Mansfield has to offer.

In the early 2000s, Mansfield earned a spot on the list of the top five best places to raise a family. This accolade is a testament to the city's strong sense of community, high-quality education system, and extensive range of recreational opportunities. From exploring the beautiful Kingwood Center Gardens to bird watching at the Ohio Bird Sanctuary, there's no shortage of family-friendly activities in Mansfield.

Today, Mansfield's civic leaders are actively working towards transforming the city into a hub for economic development and entrepreneurship. Their efforts are yielding promising results, with an increasing number of businesses choosing to set up shop in Mansfield. This influx of new businesses is not only boosting the local economy but also creating a wealth of opportunities for current and future generations of Mansfield residents.

The city's downtown area has been a primary focus of these revitalization efforts. Once a quiet, largely overlooked part of the city, downtown Mansfield is now bustling with activity. New restaurants, shops, and entertainment venues have popped up in recent years, infusing the area with a newfound vibrancy. The downtown revitalization project is a clear indication of Mansfield's commitment to progress and growth.

Mansfield, Ohio is a city that respects its past, appreciates its present, and is eagerly looking forward to its future. With its rich history, strong community spirit, and forward-thinking leadership, Mansfield is well on its way to becoming an even more vibrant and prosperous city.

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