Listing Agency: ERA Martin & Associates (F) m***@eramartin.com Show Phone

Listed By: Marian Everhart Show Phone

Source: Exprealty

Added: Aug 12 Changed: Aug 21 Last Checked: Aug 21 at 1:24PM

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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 ERA Martin & Associates (F)

Investment Insights

Based on property information with market context.

This mixed-use property combines a front section suitable for office or residential occupancy with a rear layout containing multiple rooms. The rear spaces can support classrooms, training functions, offices, or meetings, creating a configuration that accommodates distinct uses within one building.

A full commercial kitchen serves two separate dining or sitting areas, adding support for meals, gatherings, events, or community activities. The property measures 8,639 and is located at 113 E High St in Frankfort, Ohio. Its combination of front-facing space, rear rooms, kitchen facilities, and dining areas supports consideration for office, educational, daycare, or other commercial operations identified in the property information.

Key Highlights

• Front portion offers office or residential space
• Rear area includes additional rooms for classrooms, training, offices, or meetings
• Full commercial kitchen 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

$57,017

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

8.16%

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%

$1,140,340 $1.1M

Cap Rate 7%

$814,529 $814.5K

Cap Rate 9%

$633,522 $633.5K

Market Conditions

NOI Build-Up for 8,639 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

$103.7K $12.00/SF

− Vacancy

−$12.4K −$1.44/SF

EGI

$91.2K $10.56/SF

− OpEx

−$34.2K −$3.96/SF

NOI

$57.0K $6.60/SF

Area

Ross County, OH

Vacancy

12.00%

Lease Rate

$12.00 /SF/Yr

Expense Ratio

37.50%

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%

$1,140,340

Cap Rate 7%

$814,529

Cap Rate 9%

$633,522

Alternative Uses

Best Use

Office B

$1.18M

$1.03M – $1.38M (±1% cap)

NOI $82,727 @ 7.0% cap · market cap 11.84%

Second Best

Mixed Use

$814.5K

$712.7K – $950.3K (±1% cap)

NOI $57,017 @ 7.0% cap · market cap 8.16%

Theoretical Best

Office A

$1.63M

$1.43M – $1.90M (±1% cap)

NOI $114,118 @ 7.0% cap · market cap 16.33%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Property Profile

Current Use

The Village Nurturing and Education ... Daycare Center

Suggested Use

Top Pick Building Supply Plumbing Service Storage Facility Real Estate Agency Garden Center Carpet & Flooring 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.

Location Intelligence

Trade Area within ½ mile

94

Businesses Nearby

Explore this area Business Placement

Demographics for 45628, OH

5,429

Population

2,450

Households

2.2

Avg Household Size

40

Median Age

15%

College-Educated

92%

High-School Grad

75.8 sq mi

ZIP Area

72

Density / Sq Mi

$69,786

Median Household Income

$39,968

Median Earnings

$936

Median Rent

$167,500

Median Home Value

Market

Vacancy Rate% for Office in Midwest region

13.7% 2019

15.6% 2020

17.1% 2021

18.9% 2022

21% 2023

22% 2024

21.3% 2025

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Frequently Asked Questions

What type of property is this?

Mixed-use property - Flexible front-and-rear configuration includes office or residential space, meeting rooms, and two dining areas.

Where is this mixed-use property located?

The property is located at 113 E High St Frankfort, OH.

What is the asking price?

The asking price for this property is $699,000.

What are key features of this property?

This property features: Front portion offers office or residential space; Rear area includes additional rooms for classrooms, training, offices, or meetings; Full commercial kitchen included