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16 N Main Street

London, OH 43140

$300,000 $1,264/Mo

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Overview

Bed

Bath

0.20

Acre(Lot)

Description

16 North Main Street offers investors a value-add opportunity through the adaptive reuse of an underutilized commercial asset in downtown London, Ohio. While the Property is currently zoned and operating as an office, prior ownership has already advanced meaningful interior reconfiguration toward residential use. This partial repositioning provides a head start on what would otherwise be a longer-horizon business plan, allowing a new owner to capture the conversion delta with greater speed and capital efficiency than a comparable ground-up reuse opportunity. The investment thesis is anchored in a clear shift in highest and best use from office to multifamily. Underwriting contemplates eleven one-bedroom residential units generating in excess of $8,000 in monthly rental income at approxima tely $750 per unit. A figure that meaningfully outperforms the seller's office-based pro forma of roughly $4,400 per month. The resulting income uplift is driven by both the expansion in revenue-generating unit count and the structural rent premium that residential commands over legacy office in this submarket. Combined with broader secular tailwinds favoring small-format housing in tertiary Ohio markets and the ongoing softening of suburban office fundamentals, 16 North Main Street represents a high-conviction conversion play with a defined execution path, attractive yield-on-cost, and significant embedded upside relative to the current basis. The property is part of a larger Central Ohio Investment Portfolio available for purchase. The full portfolio is 133 units assembled across 34 individual residential and mixed-use properties in London, Ohio (Madison County) and Washington Court House, Ohio (Fayette County). The portfolio was acquired and renovated between 2018 and 2022. Please see the attached file that breaks down the offering in tranches.

Property Details

Property Type : Residential Income

Price : $300,000

AD Id : 84939583

MLS Id : 226021790

Lot Size : 0.20 Acre

Year Built : 1933

County : Madison

Map

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Features

Building Information

Year Built: 1933 Private Pool: No

Lot Information

Main Square Feet: 0.2 Lot Size Acres: 0.2 Lot Size Square Feet: 8712

Listing Price Information

Listing Price: $300000 Conventional

Tax Information

Parcel Number: 31-02305.000 Tax Year: 2025

Utility Information

Natural Gas Available, Water Available, Sewer Available, Electricity Available
Location Information

WaterSource: Public

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Nearby Home Value

Address	Estimate	Bed	Bath	Sq. Ft	Lot Size
233 Maddoxx Drive, London, OH, 43140	$358,990	5	3	2,176	2,176 SqFt
231 Maddoxx Drive, London, OH, 43140	$429,990	4	3	2,720	2,720 SqFt
207 Maddoxx Drive, London, OH, 43140	$453,990	4	3	3,103	3,103 SqFt
201 Maddoxx Drive, London, OH, 43140	$332,990	3	2	1,228	1,228 SqFt
209 Maddoxx Drive, London, OH, 43140	$421,990	4	3	2,933	2,933 SqFt
7900 Big Plain Circlevi.., London, OH, 43140	$799,900	5	3	2,595	2,595 SqFt
3660 Sycamore Lane, London, OH, 43140	$349,900	4	2	2,190	2,190 SqFt
6881 Van Wagener Road, London, OH, 43140	$649,900	3	2	3,000	3,000 SqFt
380 Us Highway 42, London, OH, 43140	$1,200,000	6	2	4,034	4,034 SqFt
1855 Spring Valley Road, London, OH, 43140	$999,000	4	4	3,165	3,165 SqFt

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ByOwner last updated this listing 06/17/2026 @ 13:10

MLS: 226021790 LISTED BY: Brett Ludwig, Verti Commercial Real Estate L 380-215-6046 SOURCE: Columbus and Central Ohio Regional MLS