Wells Fargo Building Sells for $1.3 Million

CANFIELD, Ohio — Office space at 3731 Boardman-Canfield Road here sold to a local buyer for $1,305,000.

The sale closed Jan. 30 to ESRT LLC, based in Canfield, according to documents from the Mahoning County Auditor. The seller was K&T Realty Ltd., which originally purchased the property in March 1996 for $589,800.

Kutlick Realty was the exclusive broker agency for the transaction. Broker Bill Kutlick listed the property for sale and Kutlick Realty agent Gary Lasko represented the buyer.

Office space at 3731 Boardman-Canfield Road is fully leased.

Built in 1989, the 12,640-square-foot, one-floor, multitenant office building sits on 1.13 acres at the corner of U.S. Route 224 and Seville Drive. It is fully leased to three tenants: Wells Fargo, which leases the majority of the space, DeSanto Law Firm and Bellezza Salon.

During the six months the property was listed, the agency received multiple offers, all of which were from local parties, Kutlick says. The space is well positioned with “very little maintenance that has to be done to it,” he says.

The sale price is about what Kutlick expected for the property in this market, he notes.

“It met the appraisal without any problems,” Kutlick says. “For that type of property, it brought the market value.”

Pictured above: The office building at 3731 Boardman-Canfield Road sold for $1.3 million.

Copyright 2020 The Business Journal, Youngstown, Ohio.