Freestanding Retail
For Sale
$1,179,000
3822 Springfield Xenia Road, Springfield, OH 45506
Commercial Sale, Springfield, OH
Property Size10,860 SF
Lot Size6.12 Acres
Price / SF$108.56
Days on Market199
Property Features for 3822 Springfield Xenia Road
General Information
Property type
Residential
Property subtype
Retail
Zoning description
Commercial
Standard status
Active
APN
3000600007000076
Size
10,860 SF
Lot size
6.12 Acres
Utilities
Utilities
Water Available
Sewer type
Private Sewer
Heating system
Forced Air
Water source
Well
Building Details
Year built
1997
Listing Agency:
Keller Williams Greater Cols · Keller Williams Realty
(614) 944-5900
Listed By:
Martha D Hunley · License #450518
(614) 314-5555
Added: Feb 12
Changed: Aug 29
Last Checked: Aug 30 at 10:06AM
MLS# 226004086
Copyright © 2026 Columbus and Central Ohio Multiple Listing Service. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
The offering includes a 10,860-square-foot Dollar General retail building on 6.12 acres of commercial land. Constructed in 1997, the property is served by forced-air heating, a well, private sewer, and available water. The landlord is responsible for the exterior and parking lot.
The existing NN lease has 6 years remaining in its initial term, followed by four renewal options with 10% rent increases. The property carries a 7.45% cap rate and provides an established retail occupancy alongside substantial land area.
The existing NN lease has 6 years remaining in its initial term, followed by four renewal options with 10% rent increases. The property carries a 7.45% cap rate and provides an established retail occupancy alongside substantial land area.
Key Highlights
- 10,860‑square‑foot Dollar General retail building
- 6.12 acres of commercial land
- 7.45% cap rate
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$42,513
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.61%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$850,260
$850.3K
Cap Rate 7%
$607,329
$607.3K
Cap Rate 9%
$472,367
$472.4K
Market Conditions
NOI Build-Up for 10,860 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$63.0K $5.80/SF
− Vacancy
−$2.3K −$0.21/SF
EGI
$60.7K $5.59/SF
− OpEx
−$18.2K −$1.68/SF
NOI
$42.5K $3.91/SF
Area
Clark County, OH
Vacancy
3.58%
Lease Rate
$5.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$850,260
Cap Rate 7%
$607,329
Cap Rate 9%
$472,367
Alternative Uses
Best Use
Retail
$607.3K
$531.4K – $708.6K
NOI $42,513 @ 7.0% cap · market cap 3.61%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$3.03M
$2.65M – $3.53M
NOI $212,042 @ 7.0% cap · market cap 17.98%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
27
Businesses Nearby
7k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Dollar General
Shops & Services
5,386 visits/mo
0.1 miles
Marathon
Shops & Services
1,963 visits/mo
0.2 miles
Demographics for 45506, OH
13,330
Population
6,613
Households
2
Avg Household Size
39
Median Age
13%
College-Educated
87%
High-School Grad
12.2 sq mi
ZIP Area
1,093
Density / Sq Mi
$40,132
Median Household Income
$34,774
Median Earnings
$800
Median Rent
$101,000
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Retail space - Dollar General occupies the building under an NN lease with renewal options and scheduled rent increases.
Where is this retail space located?
The property is located at 3822 Springfield Xenia Road Springfield, OH.
What is the asking price?
The asking price for this property is $1,179,000.
What are key features of this property?
This property features: 10,860‑square‑foot Dollar General retail building; 6.12 acres of commercial land; 7.45% cap rate
