Renovated 5-Unit Apartment
For Sale
$389,000
117 Monroe St, Port Clinton, OH 43452
Five occupied one-bedroom residences are complemented by private garage storage and a recently updated interior.
Property Size3,234 SF
Price / SF$120.28
Days on Market71
Property Features for 117 Monroe St
General Information
Standard status
Active
Size
3,234 SF
Total Parking Spaces
3
Property subtype
Residential Income
Occupancy
100%
Units
Unit Mix
5 x 1BR
Multifamily Units
5
Taxes and HOA fees
Annual Taxes
$5,544
Listing Agency:
Weichert, Realtors-Morgan Realty Group
(419) 732-0941
Listed By:
Alexandra Morgan Johnson
(419) 656-6822
Source:
Exprealty
Added: Aug 21
Changed: Oct 25
Last Checked: Oct 30 at 5:14PM
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 Weichert, Realtors-Morgan Realty Group
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Investment Insights
Based on property information with market context.
This multifamily property contains five one-bedroom apartments totaling 3,234 square feet. The residences have been recently renovated and are currently occupied by long-term tenants, providing an established residential configuration. Three single-car garages are also included, adding dedicated storage or parking accommodations for the property.
Located in downtown Port Clinton, the property may also accommodate short-term rental use, subject to applicable tenant rights and requirements. Showings require advance scheduling because the apartments are occupied.
Located in downtown Port Clinton, the property may also accommodate short-term rental use, subject to applicable tenant rights and requirements. Showings require advance scheduling because the apartments are occupied.
Key Highlights
- Five 1‑bedroom apartments totaling 3,234 square feet
- Recently renovated apartment interiors
- All units occupied by long‑term tenants
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$27,028
Cap Rate
6.95%
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 6.95%
Second Best
—
—
no second resolved use
Theoretical Best
Retail
$1.15M
$1.01M – $1.34M
NOI $80,676 @ 7.0% cap · market cap 20.74%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Lease Details
5
Residential units
100%
Occupancy
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 - Five occupied one-bedroom residences are complemented by private garage storage and a recently updated interior.
Where is this apartment building located?
The property is located at 117 Monroe St Port Clinton, OH.
What is the asking price?
The asking price for this property is $389,000.
What are key features of this property?
This property features: Five 1‑bedroom apartments totaling 3,234 square feet; Recently renovated apartment interiors; All units occupied by long‑term tenants
