5-Unit Apartment Building with
117 Monroe Street, Port Clinton, OH 43452
For Sale
$299,000
Multiple Units, Port Clinton, OH
Property Size3,234 SF
Lot Size0.06 Acres
Price / SF$92.46
Days on Market98
Property Features for 117 Monroe Street
General Information
Property type
Property subtype
Parking features
Elementary school district
Middle school district
High school district
Standard status
APN
Size
Lot size
Utilities
Sewer type
Heating system
Water source
Building Details
Year built
Floors in Building
Building materials
Architectural style
Listing Agency:
Weichert, Realtors-Morgan Realty Group
Listed By:
Alex M Johnson · License #2007005635
(419) 732-0941
Added: Aug 2
Changed: Oct 30
Last Checked: Nov 7 at 12:06PM
MLS# 20263018
Copyright © 2026 Firelands MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
This 5-unit apartment building contains five 1-bedroom apartments within 3,234 square feet. The units were recently renovated and are occupied by long-term tenants. The property also includes three single-car attached garages, providing dedicated storage areas associated with the building.
Constructed in 1940, the building has stucco exterior construction, forced-air heating, public water, and public sewer. Located on Monroe Street in Port Clinton, the property is subject to tenants’ rights, and showings must be scheduled in advance.
Constructed in 1940, the building has stucco exterior construction, forced-air heating, public water, and public sewer. Located on Monroe Street in Port Clinton, the property is subject to tenants’ rights, and showings must be scheduled in advance.
Key Highlights
- Five 1‑bedroom apartments totaling 3,234 square feet
- Recently renovated units occupied by long‑term tenants
- Three single‑car attached garages
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$27,028
Cap Rate
9.04%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$540,560
$540.6K
Cap Rate 7%
$386,114
$386.1K
Cap Rate 9%
$300,311
$300.3K
Market Conditions
NOI Build-Up for 3,234 SF
Gross rent
$52.4K $16.20/SF
− Vacancy
−$3.2K −$1.00/SF
EGI
$49.1K $15.20/SF
− OpEx
−$22.1K −$6.84/SF
NOI
$27.0K $8.36/SF
Area
Ottawa County, OH
Vacancy
6.20%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$540,560
Cap Rate 7%
$386,114
Cap Rate 9%
$300,311
Alternative Uses
Best Use
Apartment 5plus
$386.1K
$337.9K – $450.5K
NOI $27,028 @ 7.0% cap · market cap 9.04%
Second Best
—
—
no second resolved use
Theoretical Best
Retail
$1.15M
$1.01M – $1.34M
NOI $80,676 @ 7.0% cap · market cap 26.98%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Lease Details
5
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
531
Businesses Nearby
Explore this area
Business Placement
Demographics for 43452, OH
13,443
Population
10,859
Households
1.2
Avg Household Size
52
Median Age
28%
College-Educated
93%
High-School Grad
46.2 sq mi
ZIP Area
291
Density / Sq Mi
$63,815
Median Household Income
$43,782
Median Earnings
$937
Median Rent
$206,800
Median Home Value
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Apartment building - Renovated apartment property with occupied units and attached garage storage in downtown Port Clinton.
Where is this apartment building located?
The property is located at 117 Monroe Street Port Clinton, OH.
What is the asking price?
The asking price for this property is $299,000.
What are key features of this property?
This property features: Five 1‑bedroom apartments totaling 3,234 square feet; Recently renovated units occupied by long‑term tenants; Three single‑car attached garages
