Remodeled Salon/Spa Office
For Sale
$425,000
7211 Sawmill Road # C Dublin, Dublin, OH 43016
Remodeled second-floor suite configuration with 9 salon/spa-ready units, including shared amenities and elevator service.
Property Size2,270 SF
Price / SF$187.22
Days on Market46
Property Features for 7211 Sawmill Road # C Dublin
General Information
Standard status
Active
Size
2,270 SF
Taxes and HOA fees
Annual Taxes
$8,336
Amenities
No
Public
0.07
2270.0
Building Details
Building Size
2,270 SF
Year Built
1985
Stories
1
Listing Agency:
(614) 660-5959
Listed By:
Joe Herban
(614) 660-5959
Source:
Movenowohio
Added: Jul 7
Changed: Aug 7
Last Checked: Aug 21 at 4:04AM
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 Joe Herban
Investment Insights
Based on property information with market context.
This newly remodeled second-floor space is designed for the salon and spa industry, offering a total of nine individual suites. Each suite can be rented, with 8 of 9 currently leased under one-year terms. The building has an elevator that was replaced about one to two years ago.
The floor plan includes three bathrooms, a kitchenette, two waiting areas, and a laundry room to support day-to-day operations across the suites. The remaining ninth suite can be leased based on the purchase price.
As currently configured, the property provides a multi-suite office arrangement tailored to wellness-style uses, with separate suite renting within the same second-floor setting.
The floor plan includes three bathrooms, a kitchenette, two waiting areas, and a laundry room to support day-to-day operations across the suites. The remaining ninth suite can be leased based on the purchase price.
As currently configured, the property provides a multi-suite office arrangement tailored to wellness-style uses, with separate suite renting within the same second-floor setting.
Key Highlights
- Remodeled 2nd‑floor salon/spa suite configuration with 9 suites; each suite can be rented
- 8 of 9 suites are currently rented; 1 year lease terms for all suites
- Each suite includes access to 3 shared bathrooms and has a kitchenette, 2 waiting areas, and a laundry room
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
$27,948
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
6.58%
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%
$558,960
$559.0K
Cap Rate 7%
$399,257
$399.3K
Cap Rate 9%
$310,533
$310.5K
Market Conditions
NOI Build-Up for 2,270 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
$49.0K $21.60/SF
− Vacancy
−$11.8K −$5.18/SF
EGI
$37.3K $16.42/SF
− OpEx
−$9.3K −$4.10/SF
NOI
$27.9K $12.31/SF
Area
Franklin 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 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%
$558,960
Cap Rate 7%
$399,257
Cap Rate 9%
$310,533
Alternative Uses
Best Use
Office B
$399.3K
$349.4K – $465.8K
NOI $27,948 @ 7.0% cap · market cap 6.58%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$462.8K
$404.9K – $539.9K
NOI $32,395 @ 7.0% cap · market cap 7.62%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
967
Businesses Nearby
Explore this area
Business Placement
Demographics for 43016, OH
44,517
Population
19,919
Households
2.2
Avg Household Size
36
Median Age
69%
College-Educated
96%
High-School Grad
19.0 sq mi
ZIP Area
2,343
Density / Sq Mi
$110,518
Median Household Income
$69,917
Median Earnings
$1,530
Median Rent
$413,200
Median Home Value
Market
Vacancy Rate% for Office 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?
Office units - Remodeled second-floor suite configuration with 9 salon/spa-ready units, including shared amenities and elevator service.
Where is this office units located?
The property is located at 7211 Sawmill Road # C Dublin Dublin, OH.
What is the asking price?
The asking price for this property is $425,000.
What are key features of this property?
This property features: Remodeled 2nd‑floor salon/spa suite configuration with 9 suites; each suite can be rented; 8 of 9 suites are currently rented; 1 year lease terms for all suites; Each suite includes access to 3 shared bathrooms and has a kitchenette, 2 waiting areas, and a laundry room
