42-44 W High St - Apartments FOR SALE


Springfield, OH 45502
$495,000 USD
937-360-9952
42-44 W High St, Springfield, OH for Sale
$495,000 USD
Apartments - FOR SALE
1/19
null | Request Cap Rate

42-44 W High St
Springfield, OH 45502


HIGHLIGHTS

  • Four large, character-rich apartments above a ± 5,255 SF ground-floor retail space
  • Ground-floor retail leased month-to-month and currently well below market — flexibility to adjust rent, re-tenant, or reposition
  • $73,000 in recent capital improvements: roof updates, two renovated apartments, refreshed common areas

OVERVIEW

42-44 W High Street is a mixed-use building in the heart of downtown Springfield, offering in-place income with a clear path to added value. The property spans approximately 11,600 square feet above grade across three levels, plus an approximately 5,500-square-foot walk-out basement, on a 0.147-acre lot. Ownership has invested approximately $73,000 in recent capital improvements — a complete roof repair, two fully renovated apartments (new flooring, fresh paint, and new appliances), and a refreshed common hallway with new flooring, a tile entryway, new light fixtures, and fresh paint. Flooring and electrical materials for an additional unit convey with the sale. The four upper-floor apartments are generously sized and full of historic character — high ceilings, decorative fireplaces, pocket doors, ornate tilework, and private deck areas. Units of this size support market rents of $1,200 or more, and a new owner could readily add a modest $50 per month water and trash fee. The approximately 5,255-square-foot ground-floor retail is leased month-to-month and currently well below market, giving a new owner the flexibility to adjust rent, re-tenant, or reposition. The retail tenant pays their own utilities. A well-located historic asset combining steady current income with a straightforward path to added value in a walkable downtown core. Offered by Pat Williams, Coldwell Banker Commercial | Heritage. Call 937.360.9952 for more details.

FOR SALE DETAILS

PRICE

$495,000 USD

PRICE/SF

$29 USD /SF

# OF UNITS

4

PRICE/UNIT

$123,750

CAP RATE

Request Cap Rate

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Mixed Use | 4 apartments + retail

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Mid-Rise

PROPERTY SUBTYPE

Apartments

ADD'L SUBTYPES

Storefront Retail/Residential

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1900

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.15 AC

LAND SF

6,382 SF

ZONING

-

APN/PARCEL ID

34-00700-03410-3019

ASK ABOUT THIS PROPERTY

Patrick WilliamsColdwell Banker Commercial | HeritageMore Info
937-360-9952

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Patrick WilliamsColdwell Banker Commercial | HeritageMore Info
937-360-9952

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.