Downtown Bank
For Sale
$250,000
125 W Spring Street, Saint Marys, OH 45885
COMMERCIAL - Saint Marys, OH
Property Size4,264 SF
Price / SF$58.63
Days on Market254
Property Features for 125 W Spring Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
Commercial
Parking features
Parking Lot
Basement
Full
Subdivision
Grand Opera House Co
Directions
in the heart of St. Marys. This is the former Chase Bank Building.
Standard status
Active
APN
k3204601800
Size
4,264 SF
Taxes and HOA fees
Tax Year
2024
Utilities
Sewer type
Public Sewer
Heating system
Steam
Cooling system
Central Air
Building Details
Year built
1970
Building materials
Stone
Listing Agency:
Master Key Realty · Century 21 Real Estate
(419) 586-2313
Listed By:
Brandi Wagner · License #BRKP2015003550
(419) 586-2313
Added: Dec 11, 2025
Changed: Aug 5
Last Checked: Aug 22 at 4:06AM
MLS# 1042950
Copyright © 2026 Western Regional Information System & Technology, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 4,264-square-foot commercial building is a former Chase Bank property with a 3,818-square-foot main level. The upper floor adds storage and a kitchen area, providing supplemental space within the existing layout. Stone construction, steam heat, central air, a parking lot, and public sewer are among the documented improvements and services. Built in 1970, the property is located at 125 W Spring Street in downtown Saint Marys. C-1 zoning supports its current commercial classification, while the existing configuration offers a bank-oriented building with additional upper-level utility space.
Key Highlights
- 4,264 SF total property size
- 3,818 SF main floor
- Upstairs storage and kitchen area
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
$16,922
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
6.77%
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%
$338,440
$338.4K
Cap Rate 7%
$241,743
$241.7K
Cap Rate 9%
$188,022
$188.0K
Market Conditions
NOI Build-Up for 4,264 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
$25.1K $5.88/SF
− Vacancy
−$898 −$0.21/SF
EGI
$24.2K $5.67/SF
− OpEx
−$7.3K −$1.70/SF
NOI
$16.9K $3.97/SF
Area
Auglaize County, OH
Vacancy
3.58%
Lease Rate
$5.88 /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%
$338,440
Cap Rate 7%
$241,743
Cap Rate 9%
$188,022
Alternative Uses
Best Use
Specialty Retail
$793.6K
$694.4K – $925.8K
NOI $55,549 @ 7.0% cap · market cap 22.22%
Second Best
Retail
$241.7K
$211.5K – $282.0K
NOI $16,922 @ 7.0% cap · market cap 6.77%
Theoretical Best
Office A
$858.9K
$751.5K – $1.00M
NOI $60,122 @ 7.0% cap · market cap 24.05%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
351
Businesses Nearby
22k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Circle K
Shops & Services
13,008 visits/mo
0.3 miles
Marathon Petroleum
Shops & Services
6,510 visits/mo
0.1 miles
Sunoco
Shops & Services
1,749 visits/mo
0.4 miles
Napa Auto Parts
Shops & Services
750 visits/mo
0.4 miles
Demographics for 45885, OH
12,863
Population
5,734
Households
2.2
Avg Household Size
41
Median Age
16%
College-Educated
95%
High-School Grad
72.4 sq mi
ZIP Area
178
Density / Sq Mi
$75,054
Median Household Income
$43,812
Median Earnings
$882
Median Rent
$153,900
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Bank - C-1-zoned commercial property with stone construction, central air, and on-site parking.
Where is this bank located?
The property is located at 125 W Spring Street Saint Marys, 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: 4,264 SF total property size; 3,818 SF main floor; Upstairs storage and kitchen area
