265 W Main Street
 
265 W Main Street
Kent, OH 44240

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Notes

Discounts
For sale by owner without any Realtor fees
Lot Size
0.774 acres
Occupancy
Neighborhood commercial zoning district
Parking
100 parking spaces available
Payments
N/A
Pets
N/A
Comments

This is a once in a generation opportunity to own a landmark building in downtown Kent.  The building is situated along the Cuyahoga River offering phenomenal viewsheds and easy access to the Portage Hike & Bike trail.

AREA
   17,000 sqft   Developed space
     7,000 sqft   Available space

INCOME
   $26,000/mo   Current rents
   $  8,000/mo   Potential rents

EXPENSE
   $  6,000/mo   Actual (average from 2016-2018)
   $  1,500/mo   Management fee (6%)
   $  2,500/mo   Vacancy factor (10%)

FINANCE
   $2,500,000   Purchase price (8% CAP rate)
   $   625,000   Down payment (20%)
   $     11,862   Monthly payment (4.5% interest rate | 20 year amortization)

NOTES
   * Owners willing to offer private financing
   * Property held in West River Place, LLC
   * Purchase LLC to acquire real estate and avoid transfer tax
   * WestRiverPlace.com website to transfer with acquisition
   * City of Kent has low interest loans for development
   * City of Kent has tax abatements for improvements to the building

First Floor

Second Floor

Basement

Location