102 N. Medina Street, Medina Ohio 44256

Description

102 N Medina Street is a 15,635 SF warehouse building that has many configurations and options for contiguous space. The building sits on .53 acres and was originally constructed in 1912 with major repairs and updates as recent as 2017. It’s configuration allows for individually metered units and is comprised of four unique buildings. It has a strong rental history and consistently attracts contractors, tradespeople, and various storage space users for affordable rental rates. The space is ideal for garage and storage users, especially those that may need more or less space throughout the length of their lease. It’s convenient location North of Liberty Street on the NE corner of North Medina Street allows for a great potential redevelopment opportunity. With updates throughout the building, rental rates could be increased for additional cash flow. This is an affordable, starter investment that needs a little love and will provide good net operating income.

This is a great investment opportunity that has a good rental history and current cash flow.  There are five tenants and only one 1,750 SF vacant space in the building. Actual Gross Income: $43,200, Estimated Operating Expenses: 8,164, Net Operating Income: $35,036 and Cap Rate: 17.6%

Property Location: 102 N. Medina Street is located north of Liberty Street on the northeast corner of N. Medina Street and Bolivar Alley in the City of Medina. The property is approximately 4.2 miles from the I-71 and SR-18 intersection. 

Additional Info

Within City Limits:
Yes
Ceiling Clear:
Construction Type:
Distance from Nearest Interstate:
4.2
Former Use:
Primary Building Type:
Zoning:
C-2 Commercial

Property Location

Specifications

Status:
For Sale
Sale Price:
$ 199,000
Property Type:
Industrial, Investment
Sq. Feet:
16,000
Acreage:
0.53
City:
Medina
Corner Property:
No
  • Michelle Masica

    Michelle Masica
    Real Estate Agent & Consultant
    Michelle@GerspacherGroup.com
    Office: 
    330.722.5002
    Mobile: 
    330.590.7401
    Fax: 
    330.723.6330

    Michelle Masica was born in Arkansas and moved to Medina in 1979 when her father’s work brought the family to the area. She has stayed in the north and made Medina County her home. After completing college, Michelle worked in sales and communications. When Michelle joined her husband’s business, Masica Builders, she obtained her brokers license and sold property for their real estate company, MSL Realty. In 2008, the real estate company was sold and Michelle became the Executive Director of the Wadsworth Area Chamber of Commerce. In 2011, Michelle returned to real estate as a broker with the Gerspacher Real Estate Group. Her knowledge of the county, and real estate development and sales give her clients a real advantage.

    Education

    • Bachelor of Arts in Mass Communications, Miami University, Oxford OH
    • Ohio Real Estate License, Hondros College, Akron OH
    • CCIM Coursework

    Affiliations

    • Faith in Action Board of Trustees
    • Gamma Phi Beta, Alumni Treasurer
    • Medina County Economic Development Corp.
    • Northern Medina County Chamber of Commerce
    • Greater Medina Chamber of Commerce
    • Wadsworth Area Chamber of Commerce
    • Leadership Medina County Graduate
    • LMC Alumni Development Committee
    • Medina County Convention and Visitors Bureau, Past President
    http://www.linkedin.com/pub/michelle-masica/8/65a/48b
    https://twitter.com/mmasica
  • Steve Masica, CCIM

    Steve Masica
    Real Estate Agent & Consultant
    Steve@GerspacherGroup.com
    Office: 
    330.722.5002
    Mobile: 
    330.714.4415
    Fax: 
    330.723.6330

    Steve Masica comes to the Gerspacher Real Estate Group from an award winning career as the owner of Masica Builders. He has also been a real estate broker since 2006 when he founded MSL Realty. He has been the owner/partner in JC Holdings, SLM Development Co., the Strand Company, and Sharon Circle, LLC. Since joining the Gerspacher firm in 2013, Steve continues to bring his vast experience in construction, real estate and development to his Gerspacher clients.

    Education

    • Medina County Career Center, Medina OH
    • Ohio Real Estate License, Hondros College, Akron OH
    • Member - CCIM

    Affiliations

    • National Association of Home Builders, Life Spike Member
    • Medina County Homebuilders Association, Past President
    • Habitat for Humanity Volunteer
    • Knights of Columbus, Purser 4th Degree
    • Main Street Medina Project RENEW General Contractor
    • Northern Medina County Chamber of Commerce
    • Greater Medina Chamber of Commerce
    • Wadsworth Area Chamber of Commerce

    Recognitions

    • Great Lakes Brick Council Outstanding Use of Brick in New Residential Construction (2)
    • Outstanding Construction Restoration (Strand Theater) Wadsworth Chamber of Commerce
    • Medina Parade of Homes (3)
    • Cover/Feature, Builder/Architect Magazine, Cleveland Edition
    https://www.linkedin.com/in/steve-masica-ccim-58566110/
    https://twitter.com/stevemasica
  • Sarah Combs

    Sarah Combs
    Real Estate Agent & Consultant
    Sarah@GerspacherGroup.com
    Office: 
    330.722.5002
    Mobile: 
    330.612.6416
    Fax: 
    330.723.6330

    Sarah (Masica) Combs grew up in the Medina area and attended Archbishop Hoban High School in Akron. She obtained a degree in Business Administration and Marketing from the Boler School of Business at John Carroll University. After graduation, Sarah pursued a management trainee program and held a position in outside sales in the Cleveland market, working with local and national business of all sizes. After the extended training in sales and management, she returned to the world of real estate in which she grew up and joined “The Masica’s” team as a licensed agent to better serve new and current commercial real estate clients. She is specifically focused on growing the Lorain and Cuyahoga markets for Gerspacher Real Estate Group, where she resides with her husband. Sarah is passionate about client relations and her ability to support the experienced team with new ideas and exceptional customer service.

    Education

    • Bachelor of Science in Business Administration & Marketing, John Carroll University, University Heights, Ohio
    • Ohio Real Estate License, Hondros College, Avon, Ohio

    Affiliations

    • Archbishop Hoban Alumni
    • Gamma Phi Beta, Zeta Omicron Chapter Alumni