1384 N Monroe Dr

NO OWNER FINANCING.
NDA REQUIRED.
The property needs new Mechanical, Electrical & Plumbing and ~179 new windows with all new wall, floor and ceiling treatments, painting (exterior & interior), gutters, insulation and fire suppression system. The Offering Memorandum is partially representative of how it looked before vagrants got in and ripped out copper, etc. (No worries - the building had to be gutted anyway but it is 'very rough' inside.) No vagrant issues since Fall of 2020. Roof is new circa 2015 but was vandalized so plan on re-roofing given it's vacant so as not to disturb tenants in the future. ~3.75 acres and floor plan attached is roughly how it exists now. There are no original plans for the building as they were wiped out from the City records due to the 1974 tornado. Architect and Engineering plans would have to be drawn from scratch.
The building is ~31,777 Sq. Ft. and it has a full kitchen with dining room, several lounge areas, laundry, community rooms and administrative offices. Lots of parking and zoned for multi-family (R3) which also permits Transient Guest Lodging (AirBnB/STR - Short Term Rental). Greene Memorial Hospital is 3/10 of a mile away so you could have traveling nurses, x- ray technicians, PT and Respiratory Therapists as well as OT and other healthcare professionals in need of short term housing lease units.
The R3 (multi-family) vacant land next to property sold for ~$244K in Fall of 2023 and the building (Dentist/Attorney) on the other side sold for ~$344K in Fall of 2023. There's a $4.4 Billion Honda/LG Battery Factory [Google it] that went online in October of 2024. It's ~21 miles and Xenia is the closest city for amenities. Studio units for that workforce are in demand.
The building survived the 1974 tornado and has the 1994 Tax Abatement of 12 years for value-add construction. This means, if $3.5M was put into it, the $3.5M would not be added to the tax value for determining real estate taxes for a period of 12 years. The taxes would remain where they are (noting purchase price increase). Aforementioned information is deemed reliable but buyer to confirm.
· Fully equipped commercial kitchen [New Equipment needed]
· Expansive dining room and living room
· Reception area in core
· Administrative offices
· Five wings with separate common areas
· One wing is ideally suited for sublease to (1) chiropractor, (1) physical therapist operation for additional income and onsite services.
· Large Parking Area needs to be repaved and 2 catch basins need replacement.
· Outbuilding was vandalized to point of total destruction and needs to be removed.
Honda and LG Energy Solution announced Ohio as the home to the battery plant on October 11, 2022, committing $4.4 billion in investments and creating 2,200 jobs in Fayette County, Ohio. The new plant is roughly 20 minutes from the property and Xenia is the closest 'city of substance'. Big demand for apartments. Construction company ready to do build for apartments or healthcare.