Brick Storefront
For Sale
$169,900
128 Walter Street, Bellevue, OH 44811
Updated interior systems include LED lighting, built-in speakers, and plumbing for wash stations.
Property Size1,200 SF
Price / SF$141.58
Days on Market151
Property Features for 128 Walter Street
General Information
Standard status
Active
Size
1,200 SF
Property subtype
Retail
Taxes and HOA fees
Annual Taxes
$1,290
Amenities
high-efficiency LED lighting
built-in speaker system
water hook-ups available for wash stations
Central Air, Gas
3
Shingle
Parking.
Asphalt, Driveway, Lot, On Site.
Extra Storage.
Building Details
Year Built
1971
Construction
brick
Listing Agency:
Coldwell Banker Ward RE
(419) 651-1339
Listed By:
Amanda Frye
(419) 651-1339
Source:
Xome
Added: Apr 2
Changed: Aug 29
Last Checked: Apr 24 at 6:39PM
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 Coldwell Banker Ward RE
Investment Insights
Based on property information with market context.
This 1,200-square-foot brick storefront building dates to 1971 and offers a compact commercial footprint with adaptable interior infrastructure. High-efficiency LED fixtures and an integrated speaker system are installed throughout the main floor. Existing plumbing connections remain available for wash stations, supporting salon-oriented layouts or other service-based configurations requiring dedicated water access.
The property is located at 128 Walter Street in Bellevue, Ohio, within a residential zone that includes a commercial exception. The source property information identifies prior or potential use as a tattoo studio or salon, while the existing building systems provide a foundation for continued personal-service occupancy or a reconfigured storefront concept.
The property is located at 128 Walter Street in Bellevue, Ohio, within a residential zone that includes a commercial exception. The source property information identifies prior or potential use as a tattoo studio or salon, while the existing building systems provide a foundation for continued personal-service occupancy or a reconfigured storefront concept.
Key Highlights
- 1,200‑square‑foot brick storefront building
- Built in 1971
- High‑efficiency LED lighting on the main floor
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
$5,151
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
3.03%
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%
$103,020
$103.0K
Cap Rate 7%
$73,586
$73.6K
Cap Rate 9%
$57,233
$57.2K
Market Conditions
NOI Build-Up for 1,200 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
$7.6K $6.36/SF
− Vacancy
−$273 −$0.23/SF
EGI
$7.4K $6.13/SF
− OpEx
−$2.2K −$1.84/SF
NOI
$5.2K $4.29/SF
Area
Huron County, OH
Vacancy
3.58%
Lease Rate
$6.36 /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%
$103,020
Cap Rate 7%
$73,586
Cap Rate 9%
$57,233
Alternative Uses
Best Use
Retail
$73.6K
$64.4K – $85.9K
NOI $5,151 @ 7.0% cap · market cap 3.03%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$249.4K
$218.2K – $291.0K
NOI $17,459 @ 7.0% cap · market cap 10.28%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
348
Businesses Nearby
58k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 50%
Shops & Services 43%
Home Improvements & Furnishings 6%
Beauty & Spa 1%
Circle K
Shops & Services
15,519 visits/mo
0.4 miles
Wendy's
Dining
10,287 visits/mo
0.2 miles
Burger King
Dining
8,573 visits/mo
0.3 miles
Dollar Tree
Shops & Services
7,483 visits/mo
0.5 miles
Arby's
Dining
4,806 visits/mo
0.3 miles
Demographics for 44811, OH
12,698
Population
5,658
Households
2.2
Avg Household Size
42
Median Age
18%
College-Educated
92%
High-School Grad
118.3 sq mi
ZIP Area
107
Density / Sq Mi
$64,453
Median Household Income
$41,317
Median Earnings
$743
Median Rent
$156,900
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?
Storefront property - Updated interior systems include LED lighting, built-in speakers, and plumbing for wash stations.
Where is this storefront property located?
The property is located at 128 Walter Street Bellevue, OH.
What is the asking price?
The asking price for this property is $169,900.
What are key features of this property?
This property features: 1,200‑square‑foot brick storefront building; Built in 1971; High‑efficiency LED lighting on the main floor
