Building Details

Building Size 4,080 SF

Year Built 1910

Listing Agency: SAYRE SEALS & MCMILLAN REAL ESTATE LLC

Listed By: Jeremy Seals · License #2016001814 Show Phone

Source: Camtaylor

Added: Apr 30 Changed: Aug 25 Last Checked: Sep 4 at 9:51AM

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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 SAYRE SEALS & MCMILLAN REAL ESTATE LLC

Investment Insights

Based on property information with market context.

This mixed-use property combines a main-level retail/commercial storefront with two upper-level residential apartment units. The building is currently home to Clark's Hardware, and the basement is described as fully stocked with additional chattels for the hardware business. Off-street parking is located on the side of the business.

The property is positioned on W Main Street in the heart of Junction City, Ohio, and is presented as a live/work/invest style configuration with both commercial and residential income components under one roof.

Key Highlights

• Commercial building built in 1910, currently home to Clark's Hardware
• Main‑level retail/commercial storefront plus two upper‑level residential apartment units
• Included fully stocked basement with additional chattels for the hardware

Financial Insights

Estimated NOI and Cap Rate

NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).

NOI / Yr

$47,405

Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.

Cap Rate

4.84%

Suggested Prices Based on Cap Rates Cap rates vary significantly by property type, market, and asset quality. Typical U.S. stable-market ranges: Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+) Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand) Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically) Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher) Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk) Self-Storage — 5.5% to 7.5% Medical Office — 6.0% to 7.5% Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term Rules of thumb: Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%). Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C. Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI. Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.

Cap Rate 5%

$948,100 $948.1K

Cap Rate 7%

$677,214 $677.2K

Cap Rate 9%

$526,722 $526.7K

Market Conditions

NOI Build-Up for 4,080 SF 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.

Gross rent

$89.1K $21.84/SF

− Vacancy

−$21.4K −$5.24/SF

EGI

$67.7K $16.60/SF

− OpEx

−$20.3K −$4.98/SF

NOI

$47.4K $11.62/SF

Area

Perry County, OH

Vacancy

24.00%

Lease Rate

$21.84 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates Cap rates vary significantly by property type, market, and asset quality. Typical U.S. stable-market ranges: Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+) Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand) Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically) Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher) Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk) Self-Storage — 5.5% to 7.5% Medical Office — 6.0% to 7.5% Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term Rules of thumb: Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%). Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C. Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI. Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.

Cap Rate 5%

$948,100

Cap Rate 7%

$677,214

Cap Rate 9%

$526,722

Alternative Uses

Best Use

Retail

$677.2K

$592.6K – $790.1K (±1% cap)

NOI $47,405 @ 7.0% cap · market cap 4.84%

Second Best

Multifamily LT 5

$618.0K

$540.8K – $721.0K (±1% cap)

NOI $43,260 @ 7.0% cap · market cap 4.42%

Theoretical Best

Warehouse

$822.3K

$719.5K – $959.4K (±1% cap)

NOI $57,563 @ 7.0% cap · market cap 5.87%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Property Profile

Current Use

Storefront properties

Suggested Use

Top Pick Building Supply Auto Repair Shop Plumbing Service Auto Parts Store Storage Facility Kitchen & Bath Showroom

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

2

Residential units

Turnkey business

Opportunity

Location Intelligence

Trade Area within ½ mile

52

Businesses Nearby

Explore this area Business Placement

Demographics for 43748, OH

2,711

Population

1,175

Households

2.3

Avg Household Size

40

Median Age

11%

College-Educated

88%

High-School Grad

36.8 sq mi

ZIP Area

74

Density / Sq Mi

$72,552

Median Household Income

$45,833

Median Earnings

$747

Median Rent

$163,000

Median Home Value

Market

Vacancy Rate% for Multifamily in Midwest region

6.5% 2022

7.5% 2023

7.8% 2024

8% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this mixed-use properties located? What is the asking price? Find similar properties What are key features of this property?

Frequently Asked Questions

What type of property is this?

Mixed-use property - Retail storefront on the main level with two upper residential apartment units and an included stocked basement.

Where is this mixed-use property located?

The property is located at 118 W Main Street Junction City, OH.

What is the asking price?

The asking price for this property is $979,800.

What are key features of this property?

This property features: Commercial building built in 1910, currently home to Clark's Hardware; Main‑level retail/commercial storefront plus two upper‑level residential apartment units; Included fully stocked basement with additional chattels for the hardware