Building Details

Buildings 1

Listing Agency: Jemm Property Management & Realty m***@jemmproperty.com Show Phone

Listed By: Jennifer Stoops Show Phone

Source: Exprealty

Added: Sep 21 Changed: Sep 23 Last Checked: Sep 22 at 5:35PM

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Investment Insights

Based on property information with market context.

This storefront property at 100 Main St in Bellville, OH combines updated building systems with flexible unfinished area for a future interior buildout. The rear portion includes renovated rooms that are ready for occupancy, while additional space remains available for customization.

Major work includes updated electrical service, a new roof, replacement siding, fresh paint, and a new front entrance. These improvements provide a refreshed exterior and modernized core components for an owner-user or commercial occupant evaluating the property.

Key Highlights

• Renovated rear rooms are ready for occupancy
• Additional interior space remains for customization and buildout
• Updated electrical system

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

$39,814

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

8.38%

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%

$796,280 $796.3K

Cap Rate 7%

$568,771 $568.8K

Cap Rate 9%

$442,378 $442.4K

Market Conditions

NOI Build-Up for 4,123 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

$59.4K $14.40/SF

− Vacancy

−$2.5K −$0.60/SF

EGI

$56.9K $13.80/SF

− OpEx

−$17.1K −$4.14/SF

NOI

$39.8K $9.66/SF

Area

Richland County, OH

Vacancy

4.20%

Lease Rate

$14.40 /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%

$796,280

Cap Rate 7%

$568,771

Cap Rate 9%

$442,378

Alternative Uses

Best Use

Retail

$568.8K

$497.7K – $663.6K (±1% cap)

NOI $39,814 @ 7.0% cap · market cap 8.38%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$829.5K

$725.8K – $967.8K (±1% cap)

NOI $58,065 @ 7.0% cap · market cap 12.22%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Rainbow's End Home Decor Store

Suggested Use

Top Pick HVAC Service Plumbing Service Pharmacy Furniture & Home Goods Law Firm Real Estate Agency

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

188

Businesses Nearby

Balanced

Demand for This Use

Explore this area Business Placement

Demographics for 44813, OH

8,039

Population

3,167

Households

2.5

Avg Household Size

44

Median Age

21%

College-Educated

93%

High-School Grad

68.2 sq mi

ZIP Area

118

Density / Sq Mi

$81,214

Median Household Income

$40,755

Median Earnings

$757

Median Rent

$210,300

Median Home Value

Market

Vacancy Rate% for Retail in Midwest region

8% 2020

7.3% 2021

6.5% 2022

6% 2023

5.7% 2024

6.3% 2025

Questions? Ask Rey

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What type of property is this? Where is this storefront properties located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Storefront property - Renovated rear rooms provide ready-to-use space within a building with refreshed exterior and core systems.

Where is this storefront property located?

The property is located at 100 Main St Bellville, OH.

What is the asking price?

The asking price for this property is $475,000.

What are key features of this property?

This property features: Renovated rear rooms are ready for occupancy; Additional interior space remains for customization and buildout; Updated electrical system