231 N Main Street, Urbana, OH 43078

New Listing
$300,000
Property Type: Commercial Square Footage: 3,572 Lot Size (sq. ft.): 1,742 Status: Active
Current Price: $300,000 List Date: 1/16/2026 Last Modified: 1/16/2026

Description

Turn-key, income-producing mixed-use property offering strong cash flow and a solid 9.0% cap rate. This fully leased two-unit building features a street-level commercial storefront paired with a second-floor residential apartment, making it an ideal opportunity for investors seeking stable, diversified income. The commercial space is currently leased at $1,200 per month, while the upper-level apartment generates $1,450 per month, for a total gross annual income of $31,800. With modest operating expenses and an annual NOI of $27,084, this property delivers reliable performance from day one. Both units are occupied under existing leases, providing immediate cash flow and minimizing vacancy risk. The highly visible Main Street location enhances long-term desirability for the commercial tenant while maintaining strong rental demand for the residential unit above. Whether you are expanding your portfolio, seeking a hands-off investment, or targeting a stabilized asset with upside potential, this property represents a compelling opportunity at an attractive price point. Offered at $300,000 — invest with confidence in a fully leased, mixed-use asset with proven returns.

Supplements: ********

More Information MLS# 226001559

Location & Property Info

List Price/SqFt: 83.99 City (Mailing Addr): Urbana Corp LimitPerAuditor: Urbana

Office/Contract Info

For Sale: No Exchange: No For Lease: No Lease Rate $/Sq Ft: 0

General Property Info

Total SqFt Available: 3572 Bldg Sq Ft: 3572 Max Cont Sqft Avail: 3572 Minimum Sqft Avail: 3572 # of Docks: 0 Lot Size (Side): 93 Use Code: 429 - OTHER RETAIL STRUCTURES # of Floors Above Gr: 2 Year Built: 1900 Acreage: 0.04

Tax Info

Tax Abatement: No Taxes (Yrly): 2336 Parcel #: K48-25-00-03-19-115-00 Tax Year: 2025

Remarks & Misc

Property Description: Turn-key, income-producing mixed-use property offering strong cash flow and a solid 9.0% cap rate. This fully leased two-unit building features a street-level commercial storefront paired with a second-floor residential apartment, making it an ideal opportunity for investors seeking stable, diversified income. The commercial space is currently leased at $1,200 per month, while the upper-level apartment generates $1,450 per month, for a total gross annual income of $31,800. With modest operating expenses and an annual NOI of $27,084, this property delivers reliable performance from day one. Both units are occupied under existing leases, providing immediate cash flow and minimizing vacancy risk. The highly visible Main Street location enhances long-term desirability for the commercial tenant while maintaining strong rental demand for the residential unit above. Whether you are expanding your portfolio, seeking a hands-off investment, or targeting a stabilized asset with upside potential, this property represents a compelling opportunity at an attractive price point. Offered at $300,000 — invest with confidence in a fully leased, mixed-use asset with proven returns.

Income/Expenses

Gross Income: 31800 Net Operating Income: 27084 Total Expenses: 4716

Addl Acceptance Cond

None Known: 1

T Reimburses L

Curr Yr Est $/SF TRL: 0

Heat Fuel

Gas: 1

Water Source

Public: 1

Sewer

Public Sewer: 1

Heat Type

Forced Air: 1

Auction Info

Auction/Online Bidding Y/N: No

New Financing

Conventional: 1

MLS Primary PhotoSrc

Realtor Provided: 1

Location Property Info

Original List Price: 300000 List Price: $300,000 Property Sub Type: Mixed Use Street #: 231 Street PreDirection: N Street Name: Main Street Suffix: Street County: Champaign State: OH Zip Code: 43078 Township: Urbana

OfficeContract Info

Status: Active MLS Entry Date: 2026-01-16

Property Features

Addl Acceptance Cond: None Known Heat Fuel: Gas Heat Type: Forced Air Water Source: Public Sewer: Public Sewer New Financing: Conventional MLS Primary PhotoSrc: Realtor Provided
Listing Office: Howard Hanna Real Estate Srvcs
Listing Agent: John Crain
Last Updated: January - 16 - 2026
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