1701 Lexington AvenueSpringfield, OH 45505

1701 Lexington AvenueSpringfield, OH 45505

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$690,000 Active
Commercial - Business MLS 1034980

Listed By

Agency Name: Real Estate II, Inc.
Agency Phone: (937) 390-3119
Agent Name: Alva Fulk

Shown By

Agency Title: Cutler Real Estate
Agency Phone: 888-763-7575

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Property Description

This newly renovated & re-imagined duplex in the heart of the Brain All subdivision is a prime opportunity for the next business-minded buyer! Located in an area known for its rich entrepreneurial heritage, this corner property has been transformed into a Self-Care Beauty Multi-Plex, offering a perfect blend of modern convenience & historic charm. This unique business complex is a HUGE money maker with weekly cash-flow! *Weekly Cash Flow: 4 Fridays-$5637 or 5 Fridays-$6425 (Current rates with 1 suite vacancy)The main level features 9 fully equipped salon suites, complete w/ shampoo bowls, stylish suits & ample lighting. Designed w/ contemporary hard surface flooring, white trim, & sleek doors, the interior creates a fresh, professional atmosphere. All suites are rented on a weekly basis, w/ just one currently available for a new tenant. The average suite size is 9x11 with 2 larger suites measuring 11x11.This level also offers 2 handicap accessible bathrooms plus a BIG entry waiting space. Theres even an office suite; 11x11 w/ a private entry. For added convenience, a 9x10 community laundry/washroom is available for suite owners, making daily operations smooth & hassle-free. The property boasts a low 5% vacancy rate, proving its strong rental history. *Upper Level Income: Monthly=$2050On the upper level (with outside entry) houses 3 fully rented apartments. 1 unit offers 2 bedrooms, 1 bath, kitchen & living room. These units have new cabinetry, hard surface flooring and same neutral interior paint.The stairway leads to the common area used for communal laundry facilities. These apartments are a great source of additional steady income. There is off street parking available behind building. Graveled lot. Back door exit accessible. Significant improvements including: new flooring in all units, updated plumbing, New flat roof. New HVAC system ensuring that this property is in move-in condition; turn-key business operation & equipped for the future!

1701 Lexington Avenue | MLS# 1034980

This commercial property located at 1701 Lexington Avenue, Springfield, OH 45505 is currently listed for sale with an asking price of $690,000. Search Springfield real estate on 212caseroad.cutlerhomes.com today.

Property Features

Property Type: Commercial - Business
Cooling: Central Air
Days on Market: 570
Heating: Forced Air, Natural Gas
Home Style: Neoclassical
Lot Size: 0.17 Acres
Taxes: $2,570
Year Built: 1891

Feature Descriptions

Exterior: Vinyl Siding
Lot: Residential Lot, Plat
Lot Dimensions: 50x150
Parcel ID: 3400700028222001
Parking: Gravel, Parking Lot
Rail Access: Unknown
Sewer: Public Sewer
Special Features: Bath 1st Floor, Equipment Included, Storage, Restroom(s), Open Space
Structure Type: Business, See Remarks, Duplex
Utilities: Natural Gas Connected, Separate Meters, Sewer Connected
Water: Supplied Water
Zoning: Business, Multiple

Demographics

Clark County Demographic Information for 1701 Lexington Avenue, Springfield, OH 45505
Fips
Fips Code 39023
Population
2020 to 2025 Change down 0.5%
2010 Count 138,333
2020 Count 136,001
2025 Estimate (V2025) 135,340
2020 Estimate (V2025) 135,971
Age Distribution (Years Old)
0 to 4 5.8%
5 to 17 22.1%
18 to 64 50.8%
65 and Older 21.3%
Gender
Male 49.1%
Female 50.9%
Place of Birth
Foreign 2.6%
US 97.4%
Education
High School Graduate, Age 25+ 89.0%
Bachelor's Degree or Higher, Age 25+ 20.2%
Computer and Internet use
Households with a computer 94.4%
Households with a broadband Internet subscription 90.4%
Language
English is Second Language, Age 5+ 4.2%
English is First Language, Age 5+ 95.8%
Veterans
Veterans 9,204
Income
Per Capita Income $33,791
Median Household Income $63,132
People in Poverty 14.1%
Commute
Average Work Commute Time 24 minutes
Housing
Total Housing Units 61,154
Households 55,975
Average Household Size 2.37
Owner-Occupied 69.4%
Multi-Family 15.5%
Owner-Occupied Median Value $169,900
Median selected monthly owner costs -with a mortgage $1,262
Median selected monthly owner costs -without a mortgage $523
Median gross rent $872
Building Permits
New Private Housing Issued 2024 232
Years at Residence
1 Year or More 88.1%
Less Than 1 Year 11.9%
Business and Employment
Private non-farm Establishments 2,196
Private non-farm Employment 42,831
Private non-farm Employment Growth down 3.2%
Nonemployer Establishments 7,662
Number of Firms 1,640
Business Production
Value of Shipments $2,405,696,000
Wholesale Trade $1,808,100,000
Retail Trade $1,411,399,000
Retail Sales Per Capita $11,235
Accommodation and Food Services $207,893,000
Land
Land Area 397.47 sq. miles
Population Per Square Mile 348

Source: US Census Bureau