263 Main StRavenna, OH 44266

For Sale
$259,900

Downtown Ravenna, 3-suite office building

Overview

Added:
Dec 11, 2024
Days on market:
92
This exceptional investment opportunity presents a 5,788 square foot, three-tenant office building located in the heart of Ravenna, Ohio's Central Business District (CBD). The property, built in 1900, boasts a 100% occupancy rate with a strong 13.90% cap rate, making it an attractive sale-leaseback proposition. The building comprises three distinct suites: two ground-floor suites, each approximately 1,500 square feet, and a larger 2,788 square foot suite on the second floor. The ground floor suites feature open office areas, private offices, restrooms, and kitchenettes. The second-floor suite offers a spacious reception area, conference room, open office space, multiple private offices (including one with its own restroom), restrooms, a kitchenette, and ample storage. The property also includes a full unfinished basement and a small asphalt parking lot accommodating six vehicles, supplemented by convenient on-street parking. All utilities are public (sewer and water). The property sits on a 0.12-acre lot (APN: 31-361-13-00-049-000) and is currently operating under a gross lease. This well-maintained building presents a rare opportunity for investors seeking a stable, high-yield property in a thriving downtown location. The building features a fire escape for added safety. This is a turnkey investment ready for immediate income generation.

Highlights

  • 5,788 SF, three-tenant office building in Ravenna, OH CBD with 100% occupancy and a 13.90% cap rate.
  • Three suites: two 1,500 SF ground-floor suites and one 2,788 SF second-floor suite.
  • Features include on-site asphalt parking for six vehicles plus on-street parking, a full unfinished basement, and public sewer and water.
  • Parcel # 31-361-13-00-049-000, 0.12-acre lot.
  • Building amenities include storage, a fire escape, and kitchenette(s) in each suite.

Property Details for 263 Main St

Property type
Other retail properties, Individual retail properties
Square Feet
5,788 SF
Class
C
Year Built
1900
Lot Size (sq. ft)
5,227 SF

Location Insight

City
Ravenna
County
Portage
State
Ohio
Latitude
41.1575657
Longitude
-81.245791
263 Main St, Ravenna, Ohio

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263 Main St
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