Operating Convenience Store with
For Sale
$475,000
101 East Ohio Avenue, Rittman, OH 44270
Sale includes the operating business, inventory, and a leased residential apartment across two parcels.
Property Size2,562 SF
Days on Market75
Property Features for 101 East Ohio Avenue
General Information
Standard status
Active
Size
2,562 SF
Total Parking Spaces
15
Property subtype
Retail
Additional Details
Business Included
Yes
Road Access
Yes
Multifamily Units
1
Building Details
Building Size
2,562 SF
Listing Agency:
SVN Summit Commercial Real Estate Advisors
(330) 421-6645
Listed By:
Alyssa Bresler · License #2025005464
(330) 421-6645
Source:
Svn
Added: Jun 18
Changed: Aug 30
Last Checked: Aug 30 at 5:45PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of SVN Summit Commercial Real Estate Advisors
Investment Insights
Based on property information with market context.
This two-parcel offering includes an operating convenience store, the associated business and inventory, and a leased residential apartment. The property also provides approximately 15 parking spaces for customers and residents.
The site occupies a corner at the signalized intersection of East Ohio Avenue, offering direct access and a prominent position within the surrounding area. Existing commercial and residential components create multiple income streams within one offering.
The site occupies a corner at the signalized intersection of East Ohio Avenue, offering direct access and a prominent position within the surrounding area. Existing commercial and residential components create multiple income streams within one offering.
Key Highlights
- Operating convenience store included with the sale
- Business and inventory conveyed with the property
- Leased residential apartment included across the two‑parcel offering
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
$25,771
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
5.43%
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%
$515,420
$515.4K
Cap Rate 7%
$368,157
$368.2K
Cap Rate 9%
$286,344
$286.3K
Market Conditions
NOI Build-Up for 2,562 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
$38.4K $15.00/SF
− Vacancy
−$1.6K −$0.63/SF
EGI
$36.8K $14.37/SF
− OpEx
−$11.0K −$4.31/SF
NOI
$25.8K $10.06/SF
Area
Wayne County, OH
Vacancy
4.20%
Lease Rate
$15.00 /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%
$515,420
Cap Rate 7%
$368,157
Cap Rate 9%
$286,344
Alternative Uses
Best Use
Apartment 5plus
$1.73M
$1.51M – $2.02M
NOI $120,931 @ 7.0% cap · market cap 25.46%
Second Best
Retail
$368.2K
$322.1K – $429.5K
NOI $25,771 @ 7.0% cap · market cap 5.43%
Theoretical Best
Multifamily LT 5
$1.87M
$1.64M – $2.18M
NOI $131,076 @ 7.0% cap · market cap 27.59%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Turnkey business
Opportunity
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
232
Businesses Nearby
25k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 51%
Shops & Services 49%
Burger King
Dining
8,426 visits/mo
0.5 miles
Minit Mart
Shops & Services
5,046 visits/mo
0.4 miles
Marathon
Shops & Services
3,315 visits/mo
0.1 miles
Kwik Fill
Shops & Services
3,225 visits/mo
0.5 miles
Pizza Hut
Dining
1,551 visits/mo
0.5 miles
Demographics for 44270, OH
8,384
Population
3,420
Households
2.5
Avg Household Size
42
Median Age
19%
College-Educated
87%
High-School Grad
19.5 sq mi
ZIP Area
430
Density / Sq Mi
$66,016
Median Household Income
$40,191
Median Earnings
$749
Median Rent
$160,400
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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Similar Off Market Nearby
- Rittman IGA — 220 N Main St, Rittman, OH 44270
Frequently Asked Questions
What type of property is this?
Grocery and convenience store - Sale includes the operating business, inventory, and a leased residential apartment across two parcels.
Where is this grocery and convenience store located?
The property is located at 101 East Ohio Avenue Rittman, 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: Operating convenience store included with the sale; Business and inventory conveyed with the property; Leased residential apartment included across the two‑parcel offering
