Multi-Tenant Shopping
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1150 Harrison Avenue, Harrison, OH 45030
Retail property offering a multi-occupant format and established construction dating to 1975.
Property Size20,900 SF
Price / SF$57.42
Days on Market82
Property Features for 1150 Harrison Avenue
General Information
Standard status
Active
Size
20,900 SF
Property subtype
Retail
Occupancy
100%
Net Operating Income
$33,220
Building Details
Year Built
1975
Units
10
Tenancy
Multi
Listing Agency:
ParaSell Inc
(949) 942-6585
Listed By:
Scott Reid · License #9009637
Source:
Crexi
Added: Jun 10
Changed: Aug 29
Last Checked: Aug 29 at 8:04PM
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 ParaSell Inc
Investment Insights
Based on property information with market context.
This shopping center contains 20,900 square feet of retail space within a multi-tenant format. The property was constructed in 1975 and is positioned at 1150 Harrison Avenue in Harrison, Ohio.
The offering includes vacant space alongside existing in-place income, providing both leasing and owner-user considerations within the same retail asset.
The offering includes vacant space alongside existing in-place income, providing both leasing and owner-user considerations within the same retail asset.
Key Highlights
- 20,900 SF multi‑tenant retail center
- Constructed in 1975
- Located at 1150 Harrison Avenue, Harrison, OH 45030
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
$89,716
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
7.48%
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%
$1,794,320
$1.8M
Cap Rate 7%
$1,281,657
$1.3M
Cap Rate 9%
$996,844
$996.8K
Market Conditions
NOI Build-Up for 20,900 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
$132.9K $6.36/SF
− Vacancy
−$4.8K −$0.23/SF
EGI
$128.2K $6.13/SF
− OpEx
−$38.4K −$1.84/SF
NOI
$89.7K $4.29/SF
Area
Huron County, OH
Vacancy
3.58%
Lease Rate
$6.36 /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%
$1,794,320
Cap Rate 7%
$1,281,657
Cap Rate 9%
$996,844
Alternative Uses
Best Use
Retail
$1.28M
$1.12M – $1.50M
NOI $89,716 @ 7.0% cap · market cap 7.48%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$4.34M
$3.80M – $5.07M
NOI $304,075 @ 7.0% cap · market cap 25.34%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
697
Businesses Nearby
419k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 49%
Shops & Services 29%
Home Improvements & Furnishings 7%
Superstores 6%
McDonald's
Dining
30,288 visits/mo
0.3 miles
Big Lots
Superstores
26,757 visits/mo
0.3 miles
Cracker Barrel Old Country Store
Dining
24,729 visits/mo
0.3 miles
Wendy's
Dining
21,982 visits/mo
0.2 miles
Speedway
Shops & Services
19,945 visits/mo
0.3 miles
Demographics for 45030, OH
21,234
Population
8,756
Households
2.4
Avg Household Size
39
Median Age
29%
College-Educated
94%
High-School Grad
40.1 sq mi
ZIP Area
530
Density / Sq Mi
$97,228
Median Household Income
$50,146
Median Earnings
$1,101
Median Rent
$234,500
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Shopping center - Retail property offering a multi-occupant format and established construction dating to 1975.
Where is this shopping center located?
The property is located at 1150 Harrison Avenue Harrison, OH.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: 20,900 SF multi‑tenant retail center; Constructed in 1975; Located at 1150 Harrison Avenue, Harrison, OH 45030
