Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Retail Investment Opportunity in Madison Title is generated by Realmo AI

    5909 North Ridge Road, Madison, OH 44057

    View on Map
    Claim this Listing
    For Sale
    $399,000

    Prime retail space in Madison area with high visibility.

    Type:SCR-COM
    Added:
    Aug 2, 2024
    Days on Market:
    664
    Last Refresh:
    Apr 3 at 5:03 am

    Property Features for 5909 North Ridge Road

    General Information

    Standard status
    Active
    Property subtype
    SCR-COM

    We can help!

    Listing Contact
    Rick Osborne Jr.
    Rick Osborne Jr.

    Listing agent Rick Osborne Jr. License #2010001710

    Listing office The Osborne Group - KW Commercial

    Listing date Aug 2, 2024

    Source Realnex

    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 The Osborne Group - KW Commercial

    HighLights

    • Prime retail investment opportunity in the heart of the Madison area.
    • Strategic location offers high visibility and accessibility.
    • Flexible potential for retail or a retail pad.
    • Four possible income producing properties for investment purposes.
    • Valuable investment in a thriving retail market.
    • Sanitary sewer tap available along Rt 20 for a fee.

    Overview

    This property presents a retail investment opportunity in the heart of the Madison area. Its strategic location offers high visibility and accessibility, suitable for attracting local and visiting customers. With flexible potential for retail or a retail pad, this property presents an opportunity for investors seeking a location to establish or expand their retail presence. The property allows the chance to own a piece of local history while securing an investment in a thriving retail market. Current conditions include four possible income-producing properties for investment purposes. Any leases are month to month. A sanitary sewer tap is available along Route 20 for a fee.
    Property Profile Location Intelligence

    Current Use by Public Records

    Retail space

    Suggested Use

    Restaurant Building Supply Big Box & Wholesale Store Food Market Furniture & Home Goods Bakery Garden Center Veterinary Clinic Bed & Breakfast Florist

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Madison
    County
    Lake
    State
    Ohio
    Longitude
    -81.07686
    Latitude
    41.76836

    Nearby Similar for Sale

    • $3,000,000

      Modern Car Wash on Green Road

      State-of-the-art car wash built in 2022, high revenue.
      2606 Green Road, Madison, OH 44057
      View Details
    • $1,200,000
      3,555 SF

      Established Auto Shop For Sale

      Operating tire and service business with real estate included.
      6797 Chapel Rd, Madison, OH 44057
      View Details
    • $699,900
      600 SF

      Updated Retail/Office Space in Madison

      600 SF retail/office space with high visibility and accessibility.
      6714 N Ridge Rd, Madison, OH
      View Details
    • $59,000

      Established Snap Fitness Franchise Opportunity

      Profitable Snap Fitness franchise for sale in Madison, Ohio.
      6581 N Ridge Road, Madison, OH 44057
      View Details
    • $3,000,000
      3,700 SF

      Modern Car Wash For Sale

      State-of-the-art car wash built in 2022.
      2606 Green Rd, Madison, OH 44057
      View Details
    • $499,000
      7,784 SF

      Restaurant, Bar, and Apartment Building

      Restaurant, bar, apartment with frontage on US Route 20.
      6884 N Ridge Rd, Madison, OH
      View Details
    • $299,000
      1,250 SF

      Retail Building in Madison Village

      Free-standing retail building with ample parking and great visibility.
      5 E Main St, Madison, OH, 44057-3223
      View Details
    • $299,000
      1,250 SF

      Retail Building in Madison Village

      Free-standing retail building with ample parking and great visibility.
      5 East Main Street, Madison, OH 44057
      View Details

    FAQs

    What type of property is this?
    Retail space - Prime retail space in Madison area with high visibility.
    Where is this retail space located?
    The property is located at 5909 North Ridge Road Madison, OH.
    What is the asking price?
    The asking price for this property is $399,000.
    What are key features of this property?
    This property features: Prime retail investment opportunity in the heart of the Madison area.; Strategic location offers high visibility and accessibility.; Flexible potential for retail or a retail pad.
    (440) 299-5190
    We can help!
    Listing Contact
    Rick Osborne Jr.
    Rick Osborne Jr.
    Real Estate License ID: 2010001710
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    5909 North Ridge Road, Madison, OH 44057
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!