3950 Parkman Rd
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3950 Parkman Rd
3,212 SF Retail Building Warren, OH 44481 £260,370 (£81/SF) 3% Net Initial Yield
Investment Highlights
- One of the few remaining commercial properties left in Warren, Ohio.
- 2 accesses with a signalized intersection with a high traffic volume of approximately 63,000 VPD along the main road.
Executive Summary
Marijuana Dispensary ....Fast Food ...Brewery.. Wine Bar ... Truck Rental .. .Storage Facility.... Don't miss out on this commercial property!!! Previously a bar/ lounge. This commercial property is ready for an entrepreneur to create a vision. This is a high traffic area and a gateway from Warren to Cleveland. Includes a smaller home with basement area and garage. Property Features city water, sanitary sewer, gas and electric. Metal roof on the smaller home was installed in 2023 and new shingles on the bar in 2023. A blank canvas ready for your creativity.
Marijuana Dispensary.... Local Paper Tribune article , (titled 3 for Weed July 18 2024)it states that the New Distributors will be limited to only being allowed in business corridors, and specifically listed Parkman Rd as one of those roads. This property is located on 422 Parkman Rd, In the Warren city lines
LAMAR Geo Path 280231 Panel 90446 Sits on the opposite corner , This Billboard is located on Route 422, a roadway frequently traveled by local and truck traffic going towards the Route 82 bypass, Leavittsburg, the Southington/Parkman Amish Community, and Cleveland area. Impressions 63,268/week
The property survey is two years old and property taxes are paid for next year. The lot has access to city utilities and two access driveways to high traffic roads. With all the increase in New Business to the surrounding area, and the Dispensary License coming available. NOT TO MENTION, Trumbull County has been awarded $344.4 million A YEAR for 15 years, and Warren gets $22 Million itself from the Opioid Litigation Settlement.
Marijuana Dispensary.... Local Paper Tribune article , (titled 3 for Weed July 18 2024)it states that the New Distributors will be limited to only being allowed in business corridors, and specifically listed Parkman Rd as one of those roads. This property is located on 422 Parkman Rd, In the Warren city lines
LAMAR Geo Path 280231 Panel 90446 Sits on the opposite corner , This Billboard is located on Route 422, a roadway frequently traveled by local and truck traffic going towards the Route 82 bypass, Leavittsburg, the Southington/Parkman Amish Community, and Cleveland area. Impressions 63,268/week
The property survey is two years old and property taxes are paid for next year. The lot has access to city utilities and two access driveways to high traffic roads. With all the increase in New Business to the surrounding area, and the Dispensary License coming available. NOT TO MENTION, Trumbull County has been awarded $344.4 million A YEAR for 15 years, and Warren gets $22 Million itself from the Opioid Litigation Settlement.
Property Facts
Sale Type
Investment
Sale Conditions
Property Type
Retail
Property Subtype
Building Size
3,212 SF
Building Class
C
Year Built
1950
Price
£260,370
Price Per SF
£81
Net Initial Yield
3%
NOI
£7,811
Tenancy
Single
Number of Floors
2
Building FAR
0.07
Land Acres
1.03 AC
Opportunity Zone
Yes
Zoning
commercial b - commercial
Parking
30 Spaces (9.34 Spaces per 1,000 SF Leased)
Frontage
52 ft on Parkman Rd
Amenities
- Signalised Intersection
PROPERTY TAXES
| Parcel Number | 40-221133 | Improvements Assessment | £13,200 |
| Land Assessment | £5,854 | Total Assessment | £19,054 |
PROPERTY TAXES
Parcel Number
40-221133
Land Assessment
£5,854
Improvements Assessment
£13,200
Total Assessment
£19,054
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3950 Parkman Rd
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