For Sale
$699,900
392 State Route 7, Gallipolis, OH 45631
High-traffic location suitable for retail, restaurant, or business operations.
Property Size2,268 SF
Lot Size1.00 Acre
Price / SF$308.60
Days on Market217
Property Features for 392 State Route 7
General Information
Standard status
Active
Property type
Retail space, Individual retail properties, Retail properties & Spaces, Office Units, Office Spaces, Restaurants, Other restaurants, Commercial real estate, Other individual retail properties
Size
2,268 SF
Lot size
1.00 Acre
Building Details
Year Built
1960
Listed By:
Melissa Bowman
(740) 446-3644
Added: Feb 1
Changed: Jun 25
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
$27,826
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
3.98%
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%
$556,520
$556.5K
Cap Rate 7%
$397,514
$397.5K
Cap Rate 9%
$309,178
$309.2K
Market Conditions
NOI Build-Up for 2,268 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
$38.6K $17.04/SF
− Vacancy
−$1.5K −$0.68/SF
EGI
$37.1K $16.36/SF
− OpEx
−$9.3K −$4.09/SF
NOI
$27.8K $12.27/SF
Area
Gallia County, OH
Vacancy
4.00%
Lease Rate
$17.04 /SF/Yr
Expense Ratio
25.00%
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%
$556,520
Cap Rate 7%
$397,514
Cap Rate 9%
$309,178
Alternative Uses
Best Use
Specialty Retail
$397.5K
$347.8K – $463.8K
NOI $27,826 @ 7.0% cap · market cap 3.98%
Second Best
Office B
$397.2K
$347.6K – $463.4K
NOI $27,805 @ 7.0% cap · market cap 3.97%
Theoretical Best
Office A
$456.8K
$399.7K – $533.0K
NOI $31,978 @ 7.0% cap · market cap 4.57%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
182
Businesses Nearby
Explore this area
Business Placement
Demographics for 45631, OH
14,200
Population
6,328
Households
2.2
Avg Household Size
43
Median Age
19%
College-Educated
87%
High-School Grad
114.6 sq mi
ZIP Area
124
Density / Sq Mi
$54,772
Median Household Income
$36,382
Median Earnings
$807
Median Rent
$138,700
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - High-traffic location suitable for retail, restaurant, or business operations.
Where is this retail space located?
The property is located at 392 State Route 7 Gallipolis, OH.
What is the asking price?
The asking price for this property is $699,900.
