Fully Leased Strip Retail
For Sale
$620,000
488-498 Canal Street Nelsonville, Nelsonville, OH 45764
Well-built, fully leased strip retail center with a concrete parking lot, offered for sale at 488-498 Canal Street.
Property Size6,000 SF
Price / SF$103.33
Days on Market46
Property Features for 488-498 Canal Street Nelsonville
General Information
Standard status
Active
Size
6,000 SF
Occupancy
100%
Net Operating Income
$58,500
Additional Details
Cap Rate
8.7%
Taxes and HOA fees
Annual Taxes
$6,617
Amenities
No
6000.0
Building Details
Building Size
6,000 SF
Year Built
2007
Stories
1
Listing Agency:
(614) 660-5959
Listed By:
Bernice Banquaio
(614) 660-5959
Source:
Movenowohio
Added: Jul 7
Changed: Aug 8
Last Checked: Aug 8 at 8:12AM
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 Bernice Banquaio
Investment Insights
Based on property information with market context.
This well-built strip retail center at 488-498 Canal Street in Nelsonville, OH consists of multiple retail spaces within a single property. The center is fully leased, with tenants in place as of the listing’s request to not disturb occupants. The property includes a concrete parking lot that supports day-to-day customer access and on-site parking.
The asset is offered for sale as a turn-key rental opportunity, and the listing references an 8.7% cap rate. The property size is reported at 6,000 square feet, and it is presented as a consolidated retail building rather than a single-tenant storefront.
For buyers and investors seeking a stabilized retail holding, the fully leased status and maintained on-site parking are the primary operational takeaways. Retail tenants benefit from operating within a dedicated retail center configuration, while an ownership group can manage the property as one package. Please note that tenants are currently in place, and access for showings would require coordination in advance.
The asset is offered for sale as a turn-key rental opportunity, and the listing references an 8.7% cap rate. The property size is reported at 6,000 square feet, and it is presented as a consolidated retail building rather than a single-tenant storefront.
For buyers and investors seeking a stabilized retail holding, the fully leased status and maintained on-site parking are the primary operational takeaways. Retail tenants benefit from operating within a dedicated retail center configuration, while an ownership group can manage the property as one package. Please note that tenants are currently in place, and access for showings would require coordination in advance.
Key Highlights
- Strip retail center at 488‑498 Canal Street
- Built in 2007
- 6,000 total building 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
$42,502
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
6.86%
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%
$850,040
$850.0K
Cap Rate 7%
$607,171
$607.2K
Cap Rate 9%
$472,244
$472.2K
Market Conditions
NOI Build-Up for 6,000 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
$72.0K $12.00/SF
− Vacancy
−$11.3K −$1.88/SF
EGI
$60.7K $10.12/SF
− OpEx
−$18.2K −$3.04/SF
NOI
$42.5K $7.08/SF
Area
Athens County, OH
Vacancy
15.67%
Lease Rate
$12.00 /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%
$850,040
Cap Rate 7%
$607,171
Cap Rate 9%
$472,244
Alternative Uses
Best Use
Retail
$607.2K
$531.3K – $708.4K
NOI $42,502 @ 7.0% cap · market cap 6.86%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.37M
$1.20M – $1.60M
NOI $95,921 @ 7.0% cap · market cap 15.47%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
329
Businesses Nearby
29k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 87%
Shops & Services 13%
McDonald's
Dining
17,182 visits/mo
0.1 miles
Taco Bell
Dining
6,383 visits/mo
0.4 miles
Family Dollar
Shops & Services
3,767 visits/mo
0.4 miles
SUBWAY
Dining
1,419 visits/mo
0.1 miles
Little Italy Pizza
Dining
414 visits/mo
0.1 miles
Demographics for 45764, OH
7,859
Population
3,525
Households
2.2
Avg Household Size
36
Median Age
12%
College-Educated
85%
High-School Grad
79.0 sq mi
ZIP Area
99
Density / Sq Mi
$47,978
Median Household Income
$31,688
Median Earnings
$761
Median Rent
$112,500
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Strip mall - Well-built, fully leased strip retail center with a concrete parking lot, offered for sale at 488-498 Canal Street.
Where is this strip mall located?
The property is located at 488-498 Canal Street Nelsonville Nelsonville, OH.
What is the asking price?
The asking price for this property is $620,000.
What are key features of this property?
This property features: Strip retail center at 488‑498 Canal Street; Built in 2007; 6,000 total building area
