Versatile Commercial Property Near
For Sale
$600,000
Pending
121 Ewing Street, Centerburg, OH 43011
Mixed-use property with retail, office, apartment, and outbuildings.
Property Size6,912 SF
Days on Market111
Property Features for 121 Ewing Street
General Information
Standard status
Pending
Size
6,912 SF
Taxes and HOA fees
Annual Taxes
$2,104
Building Details
Building Size
6,912 SF
Stories
1
Listing Agency:
(740) 398-6151
Listed By:
Nina S Campbell
(740) 398-6151
Source:
Evrealestate
Added: May 12
Changed: Aug 25
Last Checked: Aug 24 at 4:48AM
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 Nina S Campbell
Investment Insights
Based on property information with market context.
This commercial property is located near the Heart of Ohio Trail. It features a 56 x 112 pole building with overhead garage doors measuring 14 and 15 feet. The building includes a retail shop area, an office, and an apartment above. Additional improvements include a 24 x 22 concrete patio with a 62 x 23 building and a separate outbuilding with five bays, each measuring 24 x 11. The property is serviced by city utilities and includes 4 separate electric meters. An approximately 75 x 100 green space offers additional outdoor area for parking, storage, or future use. The property provides multiple potential uses for commercial use. The total area of all buildings exceeds 10,000 square feet.
Key Highlights
- 10,000+ sq ft total building space across multiple structures.
- Prime location near the Heart of Ohio Trail.
- Versatile commercial property with multiple potential uses.
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
$36,689
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
6.11%
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%
$733,780
$733.8K
Cap Rate 7%
$524,129
$524.1K
Cap Rate 9%
$407,656
$407.7K
Market Conditions
NOI Build-Up for 10,000 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
$64.1K $6.41/SF
− Vacancy
−$5.4K −$0.54/SF
EGI
$58.7K $5.87/SF
− OpEx
−$22.0K −$2.20/SF
NOI
$36.7K $3.67/SF
Area
Knox County, OH
Vacancy
8.42%
Lease Rate
$6.41 /SF/Yr
Expense Ratio
37.50%
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%
$733,780
Cap Rate 7%
$524,129
Cap Rate 9%
$407,656
Alternative Uses
Best Use
Mixed Use
$524.1K
$458.6K – $611.5K
NOI $36,689 @ 7.0% cap · market cap 6.11%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$2.79M
$2.44M – $3.25M
NOI $195,251 @ 7.0% cap · market cap 32.54%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
204
Businesses Nearby
Explore this area
Business Placement
Demographics for 43011, OH
7,559
Population
2,804
Households
2.7
Avg Household Size
42
Median Age
27%
College-Educated
97%
High-School Grad
80.0 sq mi
ZIP Area
94
Density / Sq Mi
$97,929
Median Household Income
$57,897
Median Earnings
$741
Median Rent
$287,300
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Mixed-use property with retail, office, apartment, and outbuildings.
Where is this mixed-use property located?
The property is located at 121 Ewing Street Centerburg, OH.
What is the asking price?
The asking price for this property is $600,000.
What are key features of this property?
This property features: 10,000+ sq ft total building space across multiple structures.; Prime location near the Heart of Ohio Trail.; Versatile commercial property with multiple potential uses.
