Retail Building on Corner
261 Granville St Newark, OH
For Sale
Contact for pricing
Highly visible 844 SF retail building near Downtown Newark.
Property Size844 SF
Lot Size0.29 Acres
Price / SF$296.21
Days on Market1555
Property Features for 261 Granville St
General Information
Standard status
Active
Size
844 SF
Lot size
0.29 Acres
Property subtype
RETAIL
Listing Agency:
SHAI-Hess Commercial Real Estate
(740) 334-2863
Listed By:
Joe Gebhart
(740) 334-2863
Source:
Moodyscre
Added: Apr 26, 2022
Changed: Jul 6
Last Checked: Jul 21 at 4:47AM
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 SHAI-Hess Commercial Real Estate
Investment Insights
Based on property information with market context.
This property features an 844 SF building situated on a highly visible corner lot. The location is near Newark High School and minutes away from Downtown Newark.
Key Highlights
- Highly visible corner lot
- 844 SF building
- Close to Newark High School
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 | $22.8k | $27.00 |
| − Vacancy | −$816 | −$0.97 |
| EGI | $22.0k | $26.03 |
| − OpEx | −$6.6k | −$7.81 |
| NOI | $15.4k | $18.22 |
844 SF · lease $27.00/SF/yr · vacancy 3.58% · expense 30.00%
Alternative Uses
Best Use
Retail
$219.7K
$192.3K – $256.4K
NOI $15,381 @ 7.0% cap · market cap 6.15%
Second Best
—
—
no second resolved use
Theoretical Best
Flex RnD
$677.8K
$593.1K – $790.8K
NOI $47,448 @ 7.0% cap · market cap 18.98%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Similar Off Market Nearby
- Kimel's Flowers — 417 W Church St, Newark, OH 43055
- Petals 'N' Plants Florist Shoppe — newark, oh 43055
Frequently Asked Questions
What type of property is this?
Storefront property - Highly visible 844 SF retail building near Downtown Newark.
Where is this storefront property located?
The property is located at 261 Granville St Newark, OH.
What is the asking price?
The asking price for this property is $250,000.
What are key features of this property?
This property features: Highly visible corner lot; 844 SF building; Close to Newark High School
