Health Food Retail
New
For Sale
$650,000
104 W Gambier Street, Mount Vernon, OH 43050
Commercial Sale, Mount Vernon, OH
Property Size5,976 SF
Lot Size0.09 Acres
Price / SF$108.77
Days on Market2
Property Features for 104 W Gambier Street
General Information
Property type
Residential
Property subtype
Retail
Standard status
Active
APN
66-05901.000
Size
5,976 SF
Lot size
0.09 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
1730
Utilities
Utilities
Electricity Available
Sewer type
Public Sewer
Water source
Public
Building Details
Floors in Building
1
Listing Agency:
Red 1 Realty
(614) 585-9020
Listed By:
Jayme McDonald · License #2017002672
(740) 398-7326
Added: Sep 15
Last Checked: Sep 16 at 2:06PM
MLS# 226035158
Copyright © 2026 Columbus and Central Ohio Multiple Listing Service. 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 Mount Vernon commercial property combines an operating health food and nutritional business with the underlying real estate, inventory, and business assets. The first floor provides almost 3,000 square feet of retail space along with a cooler and office area. The upper level is unfinished, offering additional interior space within the existing building. The property contains 5,976 square feet on a 0.09-acre lot at 104 W Gambier Street. Public water and public sewer serve the site, with electricity available. The business, inventory, and real estate are offered together.
Key Highlights
- Business, inventory, and real estate included together
- Almost 3,000 square feet of first‑floor retail space
- Cooler and office area included
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
$23,233
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
3.57%
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%
$464,660
$464.7K
Cap Rate 7%
$331,900
$331.9K
Cap Rate 9%
$258,144
$258.1K
Market Conditions
NOI Build-Up for 5,976 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
$34.4K $5.76/SF
− Vacancy
−$1.2K −$0.21/SF
EGI
$33.2K $5.55/SF
− OpEx
−$10.0K −$1.67/SF
NOI
$23.2K $3.89/SF
Area
Knox County, OH
Vacancy
3.58%
Lease Rate
$5.76 /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%
$464,660
Cap Rate 7%
$331,900
Cap Rate 9%
$258,144
Alternative Uses
Best Use
Specialty Retail
$1.67M
$1.46M – $1.94M
NOI $116,682 @ 7.0% cap · market cap 17.95%
Second Best
Retail
$331.9K
$290.4K – $387.2K
NOI $23,233 @ 7.0% cap · market cap 3.57%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
986
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 43050, OH
29,594
Population
13,416
Households
2.2
Avg Household Size
42
Median Age
25%
College-Educated
93%
High-School Grad
154.1 sq mi
ZIP Area
192
Density / Sq Mi
$65,044
Median Household Income
$38,709
Median Earnings
$933
Median Rent
$199,000
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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Similar Off Market Nearby
- Baker's IGA — 524 S Main St, Mt Vernon, OH 43050
Frequently Asked Questions
What type of property is this?
Grocery and convenience store - Established health food business with retail, cooler, and office areas.
Where is this grocery and convenience store located?
The property is located at 104 W Gambier Street Mount Vernon, OH.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: Business, inventory, and real estate included together; Almost 3,000 square feet of first‑floor retail space; Cooler and office area included
