Freestanding Corner Retail
For Sale
Contact for pricing
116 Ainsworth Street, Lodi, OH 44254
Single-story retail building with abundant on-site parking on a highly visible corner, with potential for subdivision.
Property Size10,788 SF
Price / SF$111.23
Days on Market132
Property Features for 116 Ainsworth Street
General Information
Standard status
Active
Size
10,788 SF
Property subtype
Retail
Zoning
Local Commercial
Building Details
Stories
1
Listing Agency:
Gerspacher Real Estate Group
Listed By:
Emily Faust · License #SAL.2021003573
(330) 722-5002
Source:
Crexi
Added: Apr 29
Changed: Sep 4
Last Checked: Sep 7 at 4:55AM
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 Gerspacher Real Estate Group
Investment Insights
Based on property information with market context.
Freestanding single-story retail building totaling 10,788 SF, positioned on a highly visible corner location. The property offers generous on-site parking and a well-maintained layout designed to support retail or service use, with the added flexibility that the space can be subdivided to meet certain requirements.
The expansive parking lot supports convenient access for both customers and deliveries, which can benefit a range of storefront-oriented operations. The property is located in Lodi, OH, where it can serve everyday retail categories that the remarks note as underserved in the surrounding area.
For operators seeking a straightforward freestanding footprint with parking and configurable interior space, this corner retail building provides a practical option for a wide range of retail or service concepts.
The expansive parking lot supports convenient access for both customers and deliveries, which can benefit a range of storefront-oriented operations. The property is located in Lodi, OH, where it can serve everyday retail categories that the remarks note as underserved in the surrounding area.
For operators seeking a straightforward freestanding footprint with parking and configurable interior space, this corner retail building provides a practical option for a wide range of retail or service concepts.
Key Highlights
- Freestanding 10,788 SF single‑story retail building
- Located on a highly visible corner in Lodi, OH
- Generous on‑site parking for customers and deliveries
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
$42,814
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%
$856,280
$856.3K
Cap Rate 7%
$611,629
$611.6K
Cap Rate 9%
$475,711
$475.7K
Market Conditions
NOI Build-Up for 10,788 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
$63.4K $5.88/SF
− Vacancy
−$2.3K −$0.21/SF
EGI
$61.2K $5.67/SF
− OpEx
−$18.3K −$1.70/SF
NOI
$42.8K $3.97/SF
Area
Medina County, OH
Vacancy
3.58%
Lease Rate
$5.88 /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%
$856,280
Cap Rate 7%
$611,629
Cap Rate 9%
$475,711
Alternative Uses
Best Use
Retail
$611.6K
$535.2K – $713.6K
NOI $42,814 @ 7.0% cap · market cap 3.57%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$3.01M
$2.63M – $3.51M
NOI $210,636 @ 7.0% cap · market cap 17.55%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
238
Businesses Nearby
17k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 81%
Dining 10%
Home Improvements & Furnishings 9%
Dollar General
Shops & Services
5,449 visits/mo
0.3 miles
Huntington Bank
Shops & Services
5,013 visits/mo
0.0 miles
Circle K
Shops & Services
3,468 visits/mo
0.5 miles
City Hardware
Home Improvements & Furnishings
1,521 visits/mo
0.1 miles
SUBWAY
Dining
984 visits/mo
0.1 miles
Demographics for 44254, OH
4,784
Population
2,174
Households
2.2
Avg Household Size
46
Median Age
11%
College-Educated
89%
High-School Grad
26.0 sq mi
ZIP Area
184
Density / Sq Mi
$64,511
Median Household Income
$38,120
Median Earnings
$818
Median Rent
$185,700
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?
Retail space - Single-story retail building with abundant on-site parking on a highly visible corner, with potential for subdivision.
Where is this retail space located?
The property is located at 116 Ainsworth Street Lodi, 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: Freestanding 10,788 SF single‑story retail building; Located on a highly visible corner in Lodi, OH; Generous on‑site parking for customers and deliveries
