Building Details

Year built 2003

Roof type Asphalt

Listing Agency: Sinclair Real Estate j**@sinclairre.net Show Phone

Listed By: Marsha Justice Show Phone

Added: Feb 8, 2024 Changed: Aug 25 Last Checked: Sep 25 at 7:06AM

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MLS# 150549

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Investment Insights

Based on property information with market context.

This mixed-use commercial property encompasses 14,265 square feet on 1.749 acres at 11826 Gallia Pike in Wheelersburg. Built in 2003, the improvements include office areas, substantial storage, a ten-room medical examination office, a therapeutic PT/OT facility with an indoor pool, and short-term rental accommodations. Three apartments occupy the second level, supported by an elevator and two stairways. The property is ADA compliant and includes a parking lot, central air, public water, public sewer, and an asphalt roof.

The site is positioned in Wheelersburg, Scioto County, Ohio, with access to the surrounding community and nearby hospitals, college, and parks. Its commercial zoning and combination of professional, healthcare, residential, and rental spaces create a broad mixed-use configuration within one property. The address is 11826 Gallia Pike, Wheelersburg, OH 45694.

Key Highlights

• 14,265‑square‑foot mixed‑use commercial property on 1.749 acres
• Ten‑room medical examination office with therapeutic PT/OT facility and indoor pool
• Three second‑level apartments with elevator and two stairways

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

$115,201

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

8.86%

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%

$2,304,020 $2.3M

Cap Rate 7%

$1,645,729 $1.6M

Cap Rate 9%

$1,280,011 $1.3M

Market Conditions

NOI Build-Up for 14,265 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

$227.7K $15.96/SF

− Vacancy

−$18.2K −$1.28/SF

EGI

$209.5K $14.68/SF

− OpEx

−$94.3K −$6.61/SF

NOI

$115.2K $8.08/SF

Area

Scioto County, OH

Vacancy

8.00%

Lease Rate

$15.96 /SF/Yr

Expense Ratio

45.00%

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%

$2,304,020

Cap Rate 7%

$1,645,729

Cap Rate 9%

$1,280,011

Alternative Uses

Best Use

Office B

$2.50M

$2.19M – $2.91M (±1% cap)

NOI $174,885 @ 7.0% cap · market cap 13.45%

Second Best

Healthcare Medical

$2.43M

$2.12M – $2.83M (±1% cap)

NOI $169,914 @ 7.0% cap · market cap 13.07%

Theoretical Best

Office A

$3.04M

$2.66M – $3.54M (±1% cap)

NOI $212,499 @ 7.0% cap · market cap 16.35%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

William A. Tolle, RPH Pharmacy Mccain & Associates of Ohio, ... Insurance Agency Rivers Edge Mental ... Medical Clinic Ohio Mindful Psychotherapy ... Counselor

Suggested Use

Top Pick Law Firm Real Estate Agency Skin Care Clinic HVAC Service Grocery & Convenience Store (Bike/Boat/Book/etc) Store

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

3

Residential units

Multi-tenant

Tenancy

Location Intelligence

Trade Area within ½ mile

325

Businesses Nearby

Explore this area Business Placement

Demographics for 45694, OH

11,783

Population

5,397

Households

2.2

Avg Household Size

43

Median Age

24%

College-Educated

93%

High-School Grad

67.9 sq mi

ZIP Area

174

Density / Sq Mi

$64,482

Median Household Income

$40,689

Median Earnings

$784

Median Rent

$197,500

Median Home Value

Market

Vacancy Rate% for Office in Midwest region

13.7% 2019

15.6% 2020

17.1% 2021

18.9% 2022

21% 2023

22% 2024

21.3% 2025

Questions? Ask Rey

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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?

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Frequently Asked Questions

What type of property is this?

Mixed-use property - Commercially zoned property combining office, healthcare, storage, apartment, and short-term rental components.

Where is this mixed-use property located?

The property is located at 11826 Gallia Pike Wheelersburg, OH.

What is the asking price?

The asking price for this property is $1,300,000.

What are key features of this property?

This property features: 14,265‑square‑foot mixed‑use commercial property on 1.749 acres; Ten‑room medical examination office with therapeutic PT/OT facility and indoor pool; Three second‑level apartments with elevator and two stairways