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625 Mill St For Sale & Lease 625 Mill St 36 Unit Apartment Building $2,986,200 CAD ($82,950 CAD/Unit) 7.32% Cap Rate New Lexington, OH 43764
INVESTMENT HIGHLIGHTS
- Stabilized 36-Unit Multifamily Asset in New Lexington, Ohio – Fully leased property with consistent historical occupancy.
- Favorable Market Dynamics – Limited rental housing inventory and strong demand for affordable housing underpin long-term tenant stability.
- Strategic Southeastern Ohio Location – Positioned within commuting distance to both Lancaster and the Columbus MSA.
- Core/Core-Plus Investment Profile – Low operational risk supported by stabilized performance, offering durable income with upside potential.
- Recent Capital Improvements – Well-maintained physical condition with recent upgrades that enhance asset durability.
- Attractive Relative Yield – Offers a compelling cap rate and income return compared to similar assets in larger Ohio metros.
EXECUTIVE SUMMARY
Best and final call for offers due October 3rd
Matt Wallace
License # REC.2022007141 (OH)
Matthews Real Estate Investment Services, Inc
950 Main Ave., Suite 510, Cleveland, OH 44113
(866) 889-0550
Matt Wallace
License # REC.2022007141 (OH)
Matthews Real Estate Investment Services, Inc
950 Main Ave., Suite 510, Cleveland, OH 44113
(866) 889-0550
PROPERTY FACTS Under Contract
| Price | $2,986,200 CAD | Apartment Style | Garden |
| Price Per Unit | $82,950 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 1.86 AC |
| Cap Rate | 7.32% | Building Size | 24,110 SF |
| No. Units | 36 | No. Stories | 1 |
| Property Type | Multifamily | Year Built | 1973 |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Price | $2,986,200 CAD |
| Price Per Unit | $82,950 CAD |
| Sale Type | Investment |
| Cap Rate | 7.32% |
| No. Units | 36 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 1.86 AC |
| Building Size | 24,110 SF |
| No. Stories | 1 |
| Year Built | 1973 |
| Opportunity Zone |
Yes |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Dishwasher
- Disposal
- Microwave
- Heating
- Ceiling Fans
- Kitchen
- Hardwood Floors
- Refrigerator
- Oven
- Tub/Shower
SITE AMENITIES
- 24 Hour Access
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 36 | $981.58 CAD | - |
1 1
PROPERTY TAXES
| Parcel Number | 270029880000 | Improvements Assessment | $674,921 CAD |
| Land Assessment | $27,027 CAD | Total Assessment | $701,948 CAD |
PROPERTY TAXES
Parcel Number
270029880000
Land Assessment
$27,027 CAD
Improvements Assessment
$674,921 CAD
Total Assessment
$701,948 CAD
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