Downtown Multi-Level Retail
118 N Main Street Urbana, OH 43078
118 N Main Street, Urbana, OH, 43078
$439,900
For Sale
$439,900
Four usable levels with a working elevator, plus front and rear public entrances and a public parking lot behind.
Property Size8,334 SF
Price / SF$52.78
Days on Market168
Property Features for 118 N Main Street
General Information
- Standard status
- Active
- Size
- 8,334 SF
- Property subtype
- General Commercial
Building Details
- Year Built
- 1900
Listing agency
RE/MAX Alliance Realty
(937) 652-1100
Listed by
V. Patrick Hamilton · License #2004002933
(937) 652-1100
Source
Xome
Added: Feb 4 Updated: Jul 21 at 4:51PM Checked: Jul 21 at 4:51PM
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 RE/MAX Alliance Realty
Investment Insights
Based on property information with market context.
This multi-level commercial building offers four full levels of usable space, including a finished basement, all accessible via a working elevator and traditional stair access. The basement is finished for office use and includes a half bath. The main level features retail space with a combination of hardwood floors and carpeted areas, and the second floor is set up as an expansive retail showroom. The third level is currently utilized for storage.
Located in the downtown business district on North Main Street, the property includes both front and rear public entrances. A public parking lot sits directly behind the building, supporting convenient customer or employee access.
The building is well maintained and designed for full utilization across all floors, with current configurations supporting retail, office use in the basement, and storage on the upper level.
Located in the downtown business district on North Main Street, the property includes both front and rear public entrances. A public parking lot sits directly behind the building, supporting convenient customer or employee access.
The building is well maintained and designed for full utilization across all floors, with current configurations supporting retail, office use in the basement, and storage on the upper level.
Key Highlights
- Commercial building with four full usable levels plus a finished basement and working elevator serving every floor
- Basement finished for office use and includes a half bath
- Main level offers 3,000+ SF of retail space with a mix of hardwood floors and carpeted areas
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 | $22.5k | $2.70 |
| − Vacancy | −$806 | −$0.10 |
| EGI | $21.7k | $2.60 |
| − OpEx | −$6.5k | −$0.78 |
| NOI | $15.2k | $1.82 |
8,334 SF · lease $2.70/SF/yr · vacancy 3.58% · expense 30.00%
Alternative Uses
Best Use
Office B
$1.43M
$1.25M – $1.67M
NOI $100,257 @ 7.0% cap · market cap 22.79%
Second Best
Retail
$217.0K
$189.8K – $253.1K
NOI $15,187 @ 7.0% cap · market cap 3.45%
Theoretical Best
Specialty Retail
$2.32M
$2.03M – $2.71M
NOI $162,722 @ 7.0% cap · market cap 36.99%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Matched Notes Candle ...
Home Decor Store
Guild Galleries Interiors
Home Decor Store
Similar For Sale Nearby
Similar Off Market Nearby
- H Holding and Company — 107 N Main St, Urbana, OH 43078
- Bell's Flowers — 33 Monument Sq, Urbana, OH 43078
- Ethel's Flower Shop — 239 Scioto St, Urbana, OH 43078
FAQs
What type of property is this?
Storefront property - Four usable levels with a working elevator, plus front and rear public entrances and a public parking lot behind.
Where is this storefront property located?
The property is located at 118 N Main Street Urbana, OH.
What is the asking price?
The asking price for this property is $439,900.
What are key features of this property?
This property features: Commercial building with four full usable levels plus a finished basement and working elevator serving every floor; Basement finished for office use and includes a half bath; Main level offers 3,000+ SF of retail space with a mix of hardwood floors and carpeted areas
