Nine-Unit Brick Apartment
For Sale
$630,000
1 W Main Street, South Vienna, OH 45369
Multi-Family, South Vienna, OH
Property Size7,775 SF
Lot Size0.13 Acres
Price / SF$81.03
Days on Market56
Property Features for 1 W Main Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning description
Commercial, Multiple, Residential
Bedrooms
14
Bathrooms
12
Full bathrooms
12
Rooms
Bedroom 10, Bathroom 3, Bathroom 4, Bathroom 1, Bedroom 6, Bedroom 9, Bedroom 4, Bedroom 11, Bedroom 13, Bathroom 9, Bedroom 3, Bathroom 11, Bedroom 1, Bedroom 14, Bedroom 8, Bathroom 2, Bathroom 6, Bedroom 5, Bathroom 7, Bathroom 8, Bedroom 12, Bedroom 7, Bedroom 2, Bathroom 12, Bathroom 10, Bathroom 5
Parking features
None
Basement
Full
Appliances
Range, Refrigerator
Subdivision
Old
Lot features
Residential Lot
Elementary school district
1203 Northeastern LSD
Middle school district
1203 Northeastern LSD
High school district
1203 Northeastern LSD
Directions
e national rd to e main st
Standard status
Active
APN
1500800012408001
Size
7,775 SF
Lot size
0.13 Acres
Taxes and HOA fees
Tax Year
2025
Utilities
Sewer type
Public Sewer
Heating system
Forced Air
Cooling system
Window Unit(s)
Building Details
Year built
1941
Floors in Building
2
Number of units
9
Building materials
Brick
Listing Agency:
eXp Realty
(513) 255-2886
Listed By:
Brittany Drake
(937) 284-3543
Added: Jul 23
Changed: Sep 13
Last Checked: Sep 16 at 2:06PM
MLS# 1047228
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 9-unit apartment building contains 7,775 square feet on a 0.13-acre parcel. Built in 1941 with brick construction, the property includes several remodeled units, and each apartment is equipped with a range and refrigerator. Forced-air heating, window-unit cooling, and public sewer service support the existing residential configuration.
The property is located at 1 W Main Street in South Vienna, Ohio, near I-70 for regional commuting access. The owner pays water and trash expenses, while residents are responsible for gas and electric service. There is no designated on-site parking, and the building is fully occupied.
The property is located at 1 W Main Street in South Vienna, Ohio, near I-70 for regional commuting access. The owner pays water and trash expenses, while residents are responsible for gas and electric service. There is no designated on-site parking, and the building is fully occupied.
Key Highlights
- 9‑unit apartment building with 7,775 square feet
- Fully occupied with several remodeled units
- 0.13‑acre parcel at 1 W Main Street
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
$22,865
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
3.63%
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%
$457,300
$457.3K
Cap Rate 7%
$326,643
$326.6K
Cap Rate 9%
$254,056
$254.1K
Market Conditions
NOI Build-Up for 7,775 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
$45.5K $5.85/SF
− Vacancy
−$3.9K −$0.50/SF
EGI
$41.6K $5.35/SF
− OpEx
−$18.7K −$2.41/SF
NOI
$22.9K $2.94/SF
Area
Clark County, OH
Vacancy
8.60%
Lease Rate
$5.85 /SF/Yr
Expense Ratio
45.00%
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%
$457,300
Cap Rate 7%
$326,643
Cap Rate 9%
$254,056
Alternative Uses
Best Use
Apartment 5plus
$326.6K
$285.8K – $381.1K
NOI $22,865 @ 7.0% cap · market cap 3.63%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$2.17M
$1.90M – $2.53M
NOI $151,807 @ 7.0% cap · market cap 24.10%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
9
Residential units
100%
Occupancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
62
Businesses Nearby
Explore this area
Business Placement
Demographics for 45369, OH
3,576
Population
1,690
Households
2.1
Avg Household Size
43
Median Age
23%
College-Educated
92%
High-School Grad
42.8 sq mi
ZIP Area
84
Density / Sq Mi
$96,500
Median Household Income
$41,531
Median Earnings
$912
Median Rent
$205,300
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Fully occupied apartment property with updated units, in-unit appliances, and convenient access near I-70.
Where is this apartment building located?
The property is located at 1 W Main Street South Vienna, OH.
What is the asking price?
The asking price for this property is $630,000.
What are key features of this property?
This property features: 9‑unit apartment building with 7,775 square feet; Fully occupied with several remodeled units; 0.13‑acre parcel at 1 W Main Street
