Call Ryan Kelly at 330 719-6701

Historic Investment Opportunity

Historic Investment Opportunity

Primed for 1.5X GrOwth

Ohio One
65,000 sq ft, 72% Leased
Prime Downtown Location
Long Term Anchor Tenants
Beautiful Interior Finishes
High End Marble, Terrazzo, and Wood
Ohio One front with Drew Eric Ryan
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First Floor Ohio One

$600K, 72% leased with $2M upside in 2 Years

Access Investor Deck

Downtown Location

Steps from Covelli Centre's 200K Annual Visitors

Why Invest?

Below-market deal ($9/sq ft), 1.5x multiple, 5% cash-on-cash.

Overview
Invest $150K = 12.5% Equity
Returns: 1.5x by 2027 ($225K)

Built as Ohio Edison’s Headquarters, Ohio One is a 65,000 sq ft downtown property—695 tons of steel, beautiful brick property with 30,000 sq ft of marble finishes. This central business district property offers unmatched value compared to nearby comps at $32-$46/sq ft, with a valuation of $1.5M already locked in. 

  • Stable Returns, Prime Location, Proven Tenant Demand
  • 65,000 sq ft - Anchored by several long term tenants
  • Valuation: $1.5M in 2025
  • Value to $2M in 2027, driven by office NOI, 8.7% cap rate
YearOccupancyNOIValueCap Rate
Now72%$41K$600K7%
202578%$81K$1.5M5.4%
202785%$174K$2M8.7%

Phase 1: Office Stabilization to $2M by 2027

Premium office property, targeting a $2 million valuation by 2027 with an 8.7% cap rate.

Here’s how we’ll get there:

  • Step 1 - Increase Occupancy to 78% by leasing current owner's space.
  • Step 2 - Increase Occupancy to 85% by supporting Anchor Tenant's request for additional space for expanding operations.
  • Steps 1 and 2 lease up additional 7,000 square feet at $12–$15 supporting the $2M valuation.
  • Reserve-Backed Execution: $150,000 in reserves covers marketing, leasing contingencies, and operational needs, reducing risk and ensuring smooth progress to 85% occupancy.
  • Market Momentum: Downtown Youngstown is seeing $132M in combined investment, including a $70M project at 20 W. Federal and a $62M Aerospace and Defense Innovation Hub just five blocks away. These developments drive demand for quality office space, positioning Ohio One to attract tenants tied to these initiatives, such as America Makes 3D Printing.
YearOccupancyNOIValueCap Rate
Now72%$41K$600K7%
202578%$81K$1.5M5.4%
202785%$174K$2M8.7%

Phase 2: Optional Penthouse Upside

Feasibility TBD—enhances returns without impacting Phase 1’s $2M goal.

Here’s the vision for penthouse concept:

  • Revenue Potential: These premium spaces could command top-tier rents or serve as unique short-term rental options, capitalizing on downtown’s growing visitor traffic (e.g., 200K+ annual Covelli Centre attendees).
  • 3,000 sq ft Champion Suite: Features a spacious dining room, elegant library, private exercise area, 3 bathrooms, sophisticated bar, executive office, and an entertainment room overlooking the Covelli Centre.
  • 2,800 sq ft Mills Suite: Includes a dining room, private exercise area, 2 bathrooms, bar service area, executive office, and a living/entertainment room.
  • Funding Considerations: Execution hinges on securing historic tax credits, controlling construction costs, and assessing market appetite. If viable, this phase could push Ohio One’s valuation well beyond $2M.
Phase 2 remains flexible enhancement to the core office strategy. Investors benefit either way, with stabilized office growth as the foundation and penthouse potential as a future kicker.

Our Team

Work in Downtown Youngstown

Eric Holm: Leads an organization that built and rehabbed 200 Ohio homes; now converting a 110,000 sq ft historic school into a community hub. 

Drew Pierce: CPA with $100M in real estate experience, specializing in development and lease-up for $3M–$20M projects.

Ryan Kelly: Runs a 3D printing construction tech firm, adept at funding and government navigation.

Risks & Safeguards

Risks include leasing delays or market slowdowns. Our $150K reserves, 72% occupancy, and $62M local investment minimize these, ensuring stability

Anchor tenants including SMARTS and The Business Journal ensure cash flow from day one, with untapped office potential ready to boost returns including:

  • Owner departure opens additional office space
  • Anchor tenant looking to expand, lease substantial space
  • New Announcement: $62M Defense Innovation Hub (750 jobs by 2029)

Acquisition 50% Below Market Comps

Lease Up Plan Impacts Value Immediately

Bottomline: Ohio One is well positioned to build value on office NOI to $2M valuation in 2027. 

 

Secure Your Stake

1.5X on Capital, 50% Below Comps

Seeking $750K LP equity—$150K secures 12.5% ownership

Overview
Invest $150K = 12.5% Equity
Returns: 1.5x by 2027 ($225K)
  • Office revenue, scaling to 8-10% cap rate in Phase 1 with office growth
  • 1.5X Capital Multiple by 2027
  • Exit: Flexible refinance or buyout at Year 3
  • Perk: Enjoy penthouse stays based on your equity share

Invest in Ohio One Today

Invest in Downtown Youngstown’s Premier Commercial Real Estate – Ohio One Building

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  • 1.5X by 2027
  • Built for $1M in 1931—$20M today | Next to Covelli Centre’s 100+ events/year
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Lobby Ohio One - renovated vision4 - dark ceiling (1) (1)
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champion suite
mills suite
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Questions? Call Ryan at 330 719-6701

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