Listing Agency: Comey & Shepherd c***@gmail.com Show Phone

Listed By: Janelle A. Sprandel Show Phone

Source: Exprealty

Added: Aug 28 Changed: Sep 3 Last Checked: Sep 3 at 2:13AM

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Investment Insights

Based on property information with market context.

Located at 10059 State Route 132 in Pleasant Plain, Ohio, this 3,960 SF property is associated with Plain Folk General Store, an established operating business. The offering includes multiple garages and rental income in addition to the store operation. The property serves a customer base in the surrounding small-town community, combining an active retail business with an additional income component.

Key Highlights

• 3,960 SF property at 10059 State Route 132
• Plain Folk General Store is an established operating business
• Rental income provides an additional income component

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

$16,495

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

5.08%

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%

$329,900 $329.9K

Cap Rate 7%

$235,643 $235.6K

Cap Rate 9%

$183,278 $183.3K

Market Conditions

NOI Build-Up for 3,960 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

$22.8K $5.76/SF

− Vacancy

−$817 −$0.21/SF

EGI

$22.0K $5.55/SF

− OpEx

−$5.5K −$1.39/SF

NOI

$16.5K $4.17/SF

Area

Warren County, OH

Vacancy

3.58%

Lease Rate

$5.76 /SF/Yr

Expense Ratio

25.00%

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%

$329,900

Cap Rate 7%

$235,643

Cap Rate 9%

$183,278

Alternative Uses

Best Use

Retail

$552.4K

$483.4K – $644.5K (±1% cap)

NOI $38,669 @ 7.0% cap · market cap 11.90%

Second Best

Specialty Retail

$235.6K

$206.2K – $274.9K (±1% cap)

NOI $16,495 @ 7.0% cap · market cap 5.08%

Theoretical Best

Office A

$884.5K

$774.0K – $1.03M (±1% cap)

NOI $61,917 @ 7.0% cap · market cap 19.05%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Current Use

Grocery and convenience stores

Suggested Use

Top Pick Building Supply Furniture & Home Goods Cafe & Coffee Shop Grocery & Convenience Store Garden Center Pet Store

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

Lease Details

Turnkey business

Opportunity

Location Intelligence

Trade Area within ½ mile

30

Businesses Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Demographics for 45162, OH

2,730

Population

942

Households

2.9

Avg Household Size

43

Median Age

19%

College-Educated

88%

High-School Grad

23.9 sq mi

ZIP Area

114

Density / Sq Mi

$72,321

Median Household Income

$42,353

Median Earnings

$1,315

Median Rent

$215,300

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

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this grocery and convenience stores located? What is the asking price? Find similar properties What are key features of this property?

Frequently Asked Questions

What type of property is this?

Grocery and convenience store - Operating general store with rental income and multiple garages.

Where is this grocery and convenience store located?

The property is located at 10059 State Route 132 Pleasant Plain, OH.

What is the asking price?

The asking price for this property is $325,000.

What are key features of this property?

This property features: 3,960 SF property at 10059 State Route 132; Plain Folk General Store is an established operating business; Rental income provides an additional income component