Mixed-Use Property with Retail
For Sale
$875,000
8724 US Highway 68 N, West Liberty, OH 43357
Commercial Sale, West Liberty, OH
Property Size10,136 SF
Lot Size2.47 Acres
Price / SF$86.33
Days on Market197
Property Features for 8724 US Highway 68 N
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
Business
Parking
20
Parking features
Parking Lot
Basement
Crawl Space
Appliances
Range, Refrigerator
Directions
US 68 South of West Liberty between Pimtown Road and St Rt 507.
Subdivision
410 Salem Township
Standard status
Active
APN
I300913260002701
Size
10,136 SF
Lot size
2.47 Acres
Taxes and HOA fees
Tax Year
2025
Utilities
Utilities
Propane
Sewer type
Septic Tank
Heating system
Electric (Heating), Heat Pump (Heating), Forced Air, Propane (Heating)
Water source
Well
Amenities
half bath
pellet stove
heat pump
walkout upper level
work room with washtub
foam insulation
blacktop and gravel parking
storage shed
owned propane tank
Building Details
Year built
1995
Building materials
Vinyl Siding
Architectural style
Other
Listing Agency:
Royer Realty LLC
(937) 592-7653
Listed By:
Bryn Daring-Stewart · License #2012000044
(937) 441-3671
Added: Mar 12
Changed: Sep 12
Last Checked: Sep 24 at 3:06AM
MLS# 1044268
Copyright © 2026 Western Regional Information System & Technology, Inc. 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 2.47-acre mixed-use property includes 10,136 square feet of improvements, anchored by a 6,992+/- square-foot retail barn and a 960-square-foot commercial storefront addition. The barn includes retail space, a half bath, pellet stove, heat pump, walkout upper level, work room, washtub, and foam insulation. The addition has its own entrance and designated parking. The barn roof was seal-coated in 2021, and business inventory is excluded from the sale.
Two residences add additional functionality. Home One is a two-bedroom, two-bath modular built in 1995 with updated flooring, paint, kitchen appliances from 2023, a laundry room, covered back porch, fenced yard, and private main-suite bath. Home Two is a two-bedroom, two-bath manufactured home built in 1982 with updated windows, pantry, propane furnace, and front and back porches. The property has blacktop and gravel parking for approximately 20+ vehicles, a storage shed, propane service, well water, and septic. It is zoned B-1 and located in Salem Township within the West Liberty-Salem School District.
Two residences add additional functionality. Home One is a two-bedroom, two-bath modular built in 1995 with updated flooring, paint, kitchen appliances from 2023, a laundry room, covered back porch, fenced yard, and private main-suite bath. Home Two is a two-bedroom, two-bath manufactured home built in 1982 with updated windows, pantry, propane furnace, and front and back porches. The property has blacktop and gravel parking for approximately 20+ vehicles, a storage shed, propane service, well water, and septic. It is zoned B-1 and located in Salem Township within the West Liberty-Salem School District.
Key Highlights
- 2.47‑acre mixed‑use property with 10,136 square feet of improvements
- 6,992+/- SF retail barn plus 960‑square‑foot commercial storefront addition
- Two 2‑bedroom, 2‑bath residences built in 1995 and 1982
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
$43,034
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
4.92%
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%
$860,680
$860.7K
Cap Rate 7%
$614,771
$614.8K
Cap Rate 9%
$478,156
$478.2K
Market Conditions
NOI Build-Up for 10,136 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
$65.7K $6.48/SF
− Vacancy
−$4.2K −$0.41/SF
EGI
$61.5K $6.07/SF
− OpEx
−$18.4K −$1.82/SF
NOI
$43.0K $4.25/SF
Area
Butler County, OH
Vacancy
6.40%
Lease Rate
$6.48 /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%
$860,680
Cap Rate 7%
$614,771
Cap Rate 9%
$478,156
Alternative Uses
Best Use
Office B
$1.65M
$1.44M – $1.92M
NOI $115,435 @ 7.0% cap · market cap 13.19%
Second Best
Retail
$614.8K
$537.9K – $717.2K
NOI $43,034 @ 7.0% cap · market cap 4.92%
Theoretical Best
Office A
$2.00M
$1.75M – $2.34M
NOI $140,286 @ 7.0% cap · market cap 16.03%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
14
Businesses Nearby
Explore this area
Business Placement
Demographics for 43357, OH
4,848
Population
1,732
Households
2.8
Avg Household Size
45
Median Age
24%
College-Educated
93%
High-School Grad
68.0 sq mi
ZIP Area
71
Density / Sq Mi
$86,392
Median Household Income
$48,419
Median Earnings
$687
Median Rent
$215,400
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Midwest region
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Commercial property combines retail improvements, two residences, parking, and a flexible live-work configuration.
Where is this mixed-use property located?
The property is located at 8724 US Highway 68 N West Liberty, OH.
What is the asking price?
The asking price for this property is $875,000.
What are key features of this property?
This property features: 2.47‑acre mixed‑use property with 10,136 square feet of improvements; 6,992+/- SF retail barn plus 960‑square‑foot commercial storefront addition; Two 2‑bedroom, 2‑bath residences built in 1995 and 1982
