Retail Space in Former Auto
For Sale
$299,900
4714 Main Avenue, Ashtabula, OH 44004
CommercialSale, Ashtabula, OH
Property Size5,412 SF
Lot Size0.33 Acres
Price / SF$55.41
Days on Market315
Property Features for 4714 Main Avenue
General Information
Property type
Commercial Sale
Property subtype
Retail
Zoning description
Commercial
Parking
6
Subdivision
Connecticut Western Reserve
Elementary school district
Ashtabula Area CSD - 401
Middle school district
Ashtabula Area CSD - 401
High school district
Ashtabula Area CSD - 401
Directions
US-20 East on N Ridge Rd W (Pass by Wendy's on the right in 3.1 mi). Turn right onto Center St. Turn right onto Main Ave. Turn left. Turn right. Your destination will be on the right. Look for platinum sign
Standard status
Active
APN
052070000400
Lot size
0.33 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
3 W 3 E OF MAIN 17 N W & 20
Tax Annual Amount
2288
Legal Description
3 W 3 E OF MAIN 17 N W & 20
Utilities
Sewer type
Public Sewer
Heating system
Forced Air, Natural Gas
Water source
Public
Building Details
Year built
1968
Floors in Building
1
Roof type
Rubber
Listing Agency:
Platinum Real Estate
(888) 974-7253
Listed By:
Jim Sivalon · License #2019001484
(440) 251-4776
Added: Oct 20, 2025
Changed: Aug 20
Last Checked: Aug 30 at 8:06PM
MLS# 5165676
Copyright © 2026 MLS Now. 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.
This retail-class commercial property contains 5,412 square feet and was previously operated as an auto service garage. The building dates to 1968 and has a rubber roof, providing a physical configuration associated with its prior automotive use.
Located at 4714 Main Avenue in Ashtabula, Ohio, the property is near Lake Erie, Ashtabula Harbor, and the Hubbard House Underground Railroad Museum. Public water and public sewer serve the site, while heating is provided by a forced-air natural gas system.
Located at 4714 Main Avenue in Ashtabula, Ohio, the property is near Lake Erie, Ashtabula Harbor, and the Hubbard House Underground Railroad Museum. Public water and public sewer serve the site, while heating is provided by a forced-air natural gas system.
Key Highlights
- 5,412‑square‑foot commercial building
- Previously used as an auto service garage
- 1968 construction
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
$18,712
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
6.24%
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%
$374,240
$374.2K
Cap Rate 7%
$267,314
$267.3K
Cap Rate 9%
$207,911
$207.9K
Market Conditions
NOI Build-Up for 5,412 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
$27.3K $5.04/SF
− Vacancy
−$546 −$0.10/SF
EGI
$26.7K $4.94/SF
− OpEx
−$8.0K −$1.48/SF
NOI
$18.7K $3.46/SF
Area
Ashtabula County, OH
Vacancy
2.00%
Lease Rate
$5.04 /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%
$374,240
Cap Rate 7%
$267,314
Cap Rate 9%
$207,911
Alternative Uses
Best Use
Retail
$948.8K
$830.2K – $1.11M
NOI $66,418 @ 7.0% cap · market cap 22.15%
Second Best
Industrial
$267.3K
$233.9K – $311.9K
NOI $18,712 @ 7.0% cap · market cap 6.24%
Theoretical Best
Office A
$1.01M
$882.5K – $1.18M
NOI $70,597 @ 7.0% cap · market cap 23.54%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
559
Businesses Nearby
18k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Dollar General
Shops & Services
7,810 visits/mo
0.4 miles
Shell
Shops & Services
4,962 visits/mo
0.5 miles
U.S. Bank
Shops & Services
4,633 visits/mo
0.1 miles
Fisher Auto Parts
Shops & Services
216 visits/mo
0.2 miles
Demographics for 44004, OH
31,661
Population
15,262
Households
2.1
Avg Household Size
44
Median Age
15%
College-Educated
87%
High-School Grad
74.1 sq mi
ZIP Area
427
Density / Sq Mi
$49,507
Median Household Income
$31,471
Median Earnings
$813
Median Rent
$120,300
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 - Commercial building with public water, public sewer, and natural gas forced-air heating.
Where is this retail space located?
The property is located at 4714 Main Avenue Ashtabula, OH.
What is the asking price?
The asking price for this property is $299,900.
What are key features of this property?
This property features: 5,412‑square‑foot commercial building; Previously used as an auto service garage; 1968 construction
