Corner Retail and Office
118 BENEDICT Avenue Norwalk, OH 44857
118 BENEDICT Avenue, Norwalk, OH, 44857
$160,000
For Sale
$160,000
Commercial building on a corner lot with off-street parking, suited for office or retail use.
Property Size2,571 SF
Price / SF$62.23
Days on Market367
Property Features for 118 BENEDICT Avenue
General Information
- Standard status
- Active
- Size
- 2,571 SF
- Property subtype
- General Commercial
Building Details
- Year Built
- 1964
Listing agency
Ewell & Associates
(419) 668-7687
Listed by
Jay Ewell
(419) 668-7687
Source
Xome
Added: Jul 20, 2025 Updated: Jul 21 at 4:20PM Checked: Jul 21 at 4:20PM
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 Ewell & Associates
Investment Insights
Based on property information with market context.
This commercial building offers flexible space that could support office or retail uses. The property is located on a corner lot and includes an off-street parking area to accommodate day-to-day customer or employee needs.
The building is positioned on US Rt 250 just south of uptown Norwalk, benefiting from high traffic and high visibility.
With over 2,500 square feet of space, the layout may work well for a range of retail or professional office configurations.
The building is positioned on US Rt 250 just south of uptown Norwalk, benefiting from high traffic and high visibility.
With over 2,500 square feet of space, the layout may work well for a range of retail or professional office configurations.
Key Highlights
- Zoned B‑1 (Neighborhood Business) on a corner lot with 68' x 79' lot dimensions
- Commercial building on US Rt 250 just south of uptown Norwalk with high traffic and visibility
- Over 2,500 SF commercial building suited for office, retail, or other commercial use
Local Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $16.4k | $6.36 |
| − Vacancy | −$585 | −$0.23 |
| EGI | $15.8k | $6.13 |
| − OpEx | −$4.7k | −$1.84 |
| NOI | $11.0k | $4.29 |
2,571 SF · lease $6.36/SF/yr · vacancy 3.58% · expense 30.00%
Alternative Uses
Best Use
Office B
$450.3K
$394.0K – $525.3K
NOI $31,520 @ 7.0% cap · market cap 19.70%
Second Best
Retail
$157.7K
$138.0K – $183.9K
NOI $11,036 @ 7.0% cap · market cap 6.90%
Theoretical Best
Specialty Retail
$534.4K
$467.6K – $623.4K
NOI $37,406 @ 7.0% cap · market cap 23.38%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Simply U Tanning ...
Tanning Salon
Similar For Sale Nearby
Similar Off Market Nearby
- Betschman's Flowers On Main — 120 E Main St, Norwalk, OH 44857
FAQs
What type of property is this?
Storefront property - Commercial building on a corner lot with off-street parking, suited for office or retail use.
Where is this storefront property located?
The property is located at 118 BENEDICT Avenue Norwalk, OH.
What is the asking price?
The asking price for this property is $160,000.
What are key features of this property?
This property features: Zoned B‑1 (Neighborhood Business) on a corner lot with 68' x 79' lot dimensions; Commercial building on US Rt 250 just south of uptown Norwalk with high traffic and visibility; Over 2,500 SF commercial building suited for office, retail, or other commercial use
