Downtown Storefront with
118 N Main Street, Urbana, OH 43078
For Sale
$439,900
An elevator serves all four levels, including a finished basement configured for office use.
Property Size10,080 SF
Price / SF$43.64
Days on Market277
Property Features for 118 N Main Street
General Information
Standard status
Size
Property subtype
Site & Location
Road Access
Mixed-Use Components
Tenancy & Operations
Currently Operating
Tenant in Place
Taxes and HOA fees
Annual Taxes
Amenities
elevator
front and rear public entrances
Building Details
Building Size
Year Built
Buildings
Stories
Tenancy
Listing Agency:
REMAX Alliance Realty
Listed By:
V. Patrick Hamilton · License #2004002933
(937) 652-1100
Source:
Douglaskeycresolutions
Added: Feb 6
Changed: Nov 7
Last Checked: Nov 8 at 5:24PM
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 REMAX Alliance Realty
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Investment Insights
Based on property information with market context.
At 118 N Main Street in downtown Urbana, this 10,080-square-foot storefront building offers four usable levels, including a finished basement. A working elevator connects every floor, with stairs providing additional circulation. The basement is finished for office use and includes a half bath. The main floor has more than 3,000 square feet of retail area, and the second floor adds over 3,000 square feet of showroom space. The third floor provides more than 1,500 square feet currently used for storage.
The property has public entrances at both the front and rear, with a public parking lot behind the building. Nearby businesses and services include retail shops, restaurants, coffee shops, a bank, a bookstore, an event center, and professional offices. The building is currently home to an interior design studio, boutique, and apparel and accessories retailer; the business is separate from the real estate offering.
The property has public entrances at both the front and rear, with a public parking lot behind the building. Nearby businesses and services include retail shops, restaurants, coffee shops, a bank, a bookstore, an event center, and professional offices. The building is currently home to an interior design studio, boutique, and apparel and accessories retailer; the business is separate from the real estate offering.
Key Highlights
- 10,080‑square‑foot storefront property with four usable levels
- Working elevator reaches all floors; stairs also provide access
- Main floor has over 3,000 square feet of retail space
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$18,369
Cap Rate
4.18%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$367,380
$367.4K
Cap Rate 7%
$262,414
$262.4K
Cap Rate 9%
$204,100
$204.1K
Market Conditions
NOI Build-Up for 10,080 SF
Gross rent
$27.2K $2.70/SF
− Vacancy
−$974 −$0.10/SF
EGI
$26.2K $2.60/SF
− OpEx
−$7.9K −$0.78/SF
NOI
$18.4K $1.82/SF
Area
Champaign County, OH
Vacancy
3.58%
Lease Rate
$2.70 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$367,380
Cap Rate 7%
$262,414
Cap Rate 9%
$204,100
Alternative Uses
Best Use
Retail
$262.4K
$229.6K – $306.2K
NOI $18,369 @ 7.0% cap · market cap 4.18%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$2.81M
$2.46M – $3.28M
NOI $196,813 @ 7.0% cap · market cap 44.74%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Lease Details
Single-tenant
Tenancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
525
Businesses Nearby
39k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Speedway
Shops & Services
20,890 visits/mo
0.5 miles
United Dairy Farmers
Shops & Services
12,775 visits/mo
0.1 miles
Marathon
Shops & Services
4,155 visits/mo
0.2 miles
Fifth Third Bank & ATM
Shops & Services
1,619 visits/mo
0.3 miles
Demographics for 43078, OH
20,067
Population
8,904
Households
2.3
Avg Household Size
43
Median Age
22%
College-Educated
91%
High-School Grad
150.4 sq mi
ZIP Area
133
Density / Sq Mi
$72,500
Median Household Income
$40,854
Median Earnings
$909
Median Rent
$176,300
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Midwest region
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
Frequently Asked Questions
What type of property is this?
Storefront property - An elevator serves all four levels, including a finished basement configured for office use.
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: 10,080‑square‑foot storefront property with four usable levels; Working elevator reaches all floors; stairs also provide access; Main floor has over 3,000 square feet of retail space
