Subdividable Retail Flex
For Sale
$394,500
1290 W Main St, Wilmington, OH 45177
Retail with front office and rear roll-up doors, plus two half baths and surrounding paved area.
Property Size4,800 SF
Price / SF$82.19
Days on Market74
Property Features for 1290 W Main St
General Information
Standard status
Active
Size
4,800 SF
Amenities
restrooms
Building Details
Year Built
1980
Listing Agency:
McIntosh Real Estate Services
Listed By:
Michael S. McCarty
(937) 673-0424
Source:
Finn-team
Added: Jun 28
Changed: Sep 8
Last Checked: Sep 8 at 4:23AM
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 McIntosh Real Estate Services
Investment Insights
Based on property information with market context.
This commercial property is arranged to support subdivision into two potential business units. The front portion is set up as a large retail space with office, while the rear includes a bay with a roll-up door sized 10x10. Additional office and storage space is located in the rear with an 8x8 roll-up door, along with two half bath restrooms.
The building sits on a high-visibility route in Wilmington, Ohio. A paved area surrounds the building, providing convenient exterior space for operations and access.
Overall, the layout combines retail and flexible back-of-house space, and the building can be converted for multiple uses based on the existing unit-ready configuration and door access points.
The building sits on a high-visibility route in Wilmington, Ohio. A paved area surrounds the building, providing convenient exterior space for operations and access.
Overall, the layout combines retail and flexible back-of-house space, and the building can be converted for multiple uses based on the existing unit-ready configuration and door access points.
Key Highlights
- High‑visibility commercial property in Wilmington, OH on a high‑visibility route
- Building set up to be subdivided into two potential business units
- Huge retail space with front office plus rear area with a 10x10 roll‑up door
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
$19,724
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
5.00%
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%
$394,480
$394.5K
Cap Rate 7%
$281,771
$281.8K
Cap Rate 9%
$219,156
$219.2K
Market Conditions
NOI Build-Up for 4,800 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
$30.8K $6.41/SF
− Vacancy
−$2.6K −$0.54/SF
EGI
$28.2K $5.87/SF
− OpEx
−$8.5K −$1.76/SF
NOI
$19.7K $4.11/SF
Area
Clinton County, OH
Vacancy
8.42%
Lease Rate
$6.41 /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%
$394,480
Cap Rate 7%
$281,771
Cap Rate 9%
$219,156
Alternative Uses
Best Use
Retail
$1.25M
$1.09M – $1.46M
NOI $87,472 @ 7.0% cap · market cap 22.17%
Second Best
Industrial
$281.8K
$246.6K – $328.7K
NOI $19,724 @ 7.0% cap · market cap 5.00%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
407
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 45177, OH
22,349
Population
9,870
Households
2.3
Avg Household Size
40
Median Age
26%
College-Educated
94%
High-School Grad
170.0 sq mi
ZIP Area
131
Density / Sq Mi
$70,483
Median Household Income
$36,980
Median Earnings
$933
Median Rent
$209,400
Median Home Value
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Retail with front office and rear roll-up doors, plus two half baths and surrounding paved area.
Where is this flex space located?
The property is located at 1290 W Main St Wilmington, OH.
What is the asking price?
The asking price for this property is $394,500.
What are key features of this property?
This property features: High‑visibility commercial property in Wilmington, OH on a high‑visibility route; Building set up to be subdivided into two potential business units; Huge retail space with front office plus rear area with a 10x10 roll‑up door
