Your AI Navigator in Commercial Real Estate
Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search

    40 2 Shelby, OH 44875

    Sponsored
    For Sale
    $150,000

    Multi-Family, Stnd 2 Story - Shelby, OH

    Days on Market:
    6
    Last Refresh:
    Jan 18 at 6:06 am

    Property Features for 40 2

    General Information

    Property type
    Residential Multi Family
    Standard status
    Active
    Rooms
    Basement, Bathroom 1, Bathroom 2, Bathroom 3, Bedroom 1, Bedroom 2, Bedroom 3, Bedroom 4
    Bedrooms
    4
    Bathrooms
    3
    APN
    0460809104000
    Parking
    3
    Exterior features
    Paved Street
    Basement Y/N
    1

    Utilities

    Heating system
    Forced Air, Natural Gas
    Cooling system
    None (Cooling)

    Building Details

    Year built
    1910
    Floors in Building
    2
    Number of units
    3
    Building materials
    Aluminum Siding
    Architectural style
    Other

    We can help!

    Listing Contact
    Adam Thornton

    Dream Huge Realty LLC (419) 566-8637 [email protected]

    Listing agent Adam Thornton (419) 528-8260

    Listing date Jan 13, 2026

    MLS# 9070268 Listing URL

    Copyright © 2026 Mansfield Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Shelby, OH Triplex Investment

    Located at 40 Second St, Shelby, OH 44875, this triplex offers immediate cash flow with value-add upside. The property currently generates $1,450 per month in gross rent, with two long-term tenants in place, providing stable income. One unit has been renovated, while another unit requires renovation, presenting an opportunity to increase rents and overall returns. The third unit, when occupied, will contribute to current income. This property is ideal for investors seeking a mix of steady cash flow and forced appreciation through improvements. It offers strong fundamentals in a rental-friendly market. The property is tenant-occupied, and is being sold as-is.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Triplexes

    Map

    City
    Shelby
    County
    Richland
    State
    Ohio
    Longitude
    -82.6515
    Latitude
    40.8848

    Nearby Similar for Sale

    • $129,900
      2,185 SF

      Mixed-Use Building in Shelby, OH

      Mixed-use commercial building with storefront and apartment in Shelby.
      38 Main St, Shelby, OH 44875
      View Details
    • $1,261,334
      9,180 SF

      Family Dollar Investment Opportunity

      NNN leased Family Dollar with a new 10-year term.
      17 Mansfield Ave, Shelby, OH
      View Details
    • Contact for pricing
      39,637 SF

      Shelby Commercial Gem: 39,637 SF

      Historic Shelby building, adaptive reuse potential.
      140 Mansfield Ave, Shelby, OH 44875
      View Details
    • Contact for pricing

      Downtown Shelby Commercial Lot

      Prime 0.34-acre lot, endless potential.
      108 Main St, Shelby, OH 44875
      View Details
    • $1,150,000

      Historic Shelby Commercial Building

      Prime location, adaptive reuse potential.
      140 Mansfield Ave, Shelby, OH 44875
      View Details
    • $1,150,000
      39,637 SF

      Shelby Ohio Retail Center

      High-traffic, vacant shopping center
      140 Mansfield Ave, Shelby, OH 44875
      View Details

    FAQs

    What type of property is this?
    Triplex - Triplex in Shelby, OH with immediate cash flow potential.
    Where is this triplex located?
    The property is located at 40 2 Shelby, OH.
    What is the asking price?
    The asking price for this property is $150,000.
    What are key features of this property?
    This property features: - Immediate cash flow: Property generates $1,450/month in gross rent with two long-term tenants.; - Value-add opportunity: Renovate one unit to increase rents.; - Rental-friendly market: Strong fundamentals for rental properties.
    (419) 528-8260
    Request Owner's contact information
    40 2 Shelby, OH 44875
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    40 2
    Shelby, OH 44875
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    40 2 Shelby, OH 44875
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Adam Thornton
    (419) 528-8260
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.