Character Office
For Sale
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127 East Elm Street, Granville, OH 43023
Village Business District setting with porch, private driveway, and detached garage supports a flexible small-business workspace.
Property Size1,440 SF
Price / SF$347.22
Days on Market52
Property Features for 127 East Elm Street
General Information
Standard status
Active
Size
1,440 SF
Property subtype
Retail, Office
Zoning
village business district
Building Details
Year Built
1901
Listing Agency:
RE/MAX Revealty
Listed By:
thomas knecht · License #2021002980
Source:
Crexi
Added: Aug 25
Changed: Oct 8
Last Checked: Oct 12 at 7:49PM
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 RE/MAX Revealty
Investment Insights
Based on property information with market context.
Built in 1901, this 1,440-square-foot office building combines traditional architectural details with a layout suited to business use. The first floor includes generously sized rooms, a kitchen, and a half bath, while four additional rooms and a full bath occupy the second level. Original hardwood floors, substantial wood trim, solid doors, and an oak staircase add distinctive interior character. A wraparound front porch welcomes visitors, and the property includes a private driveway with a detached garage.
The building is located at 127 East Elm Street in Granville, Ohio, within the Village Business District. Downtown Granville shops and restaurants, Denison University, and established businesses are within walking distance. Permitted uses should be verified with the Village of Granville.
The building is located at 127 East Elm Street in Granville, Ohio, within the Village Business District. Downtown Granville shops and restaurants, Denison University, and established businesses are within walking distance. Permitted uses should be verified with the Village of Granville.
Key Highlights
- 1,440‑square‑foot office building constructed in 1901
- Village Business District zoning
- Four second‑floor rooms plus a full bath
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$17,729
Cap Rate
3.55%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$354,580
$354.6K
Cap Rate 7%
$253,271
$253.3K
Cap Rate 9%
$196,989
$197.0K
Market Conditions
NOI Build-Up for 1,440 SF
Gross rent
$31.1K $21.60/SF
− Vacancy
−$7.5K −$5.18/SF
EGI
$23.6K $16.42/SF
− OpEx
−$5.9K −$4.10/SF
NOI
$17.7K $12.31/SF
Area
Licking County, OH
Vacancy
24.00%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$354,580
Cap Rate 7%
$253,271
Cap Rate 9%
$196,989
Alternative Uses
Best Use
Office B
$253.3K
$221.6K – $295.5K
NOI $17,729 @ 7.0% cap · market cap 3.55%
Second Best
—
—
no second resolved use
Theoretical Best
Flex RnD
$1.16M
$1.01M – $1.35M
NOI $80,955 @ 7.0% cap · market cap 16.19%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
638
Businesses Nearby
Explore this area
Business Placement
Demographics for 43023, OH
14,462
Population
5,344
Households
2.7
Avg Household Size
36
Median Age
55%
College-Educated
98%
High-School Grad
49.9 sq mi
ZIP Area
290
Density / Sq Mi
$136,127
Median Household Income
$48,318
Median Earnings
$1,094
Median Rent
$428,900
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Midwest region
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Frequently Asked Questions
What type of property is this?
Office building - Village Business District setting with porch, private driveway, and detached garage supports a flexible small-business workspace.
Where is this office building located?
The property is located at 127 East Elm Street Granville, OH.
What is the asking price?
The asking price for this property is $500,000.
What are key features of this property?
This property features: 1,440‑square‑foot office building constructed in 1901; Village Business District zoning; Four second‑floor rooms plus a full bath
