Secure Retail
For Sale
$95,000
405 Bartram Avenue Marion, Marion, OH 43302
Retail storefront with reinforced doors and windows, plus an advanced alarm system for a secure operating environment.
Property Size840 SF
Price / SF$113.10
Days on Market49
Property Features for 405 Bartram Avenue Marion
General Information
Standard status
Active
Size
840 SF
Total Parking Spaces
10
Taxes and HOA fees
Annual Taxes
$387
Amenities
reinforced doors
reinforced windows
advanced alarm system
No
0.26
10.0
840.0
Building Details
Building Size
840 SF
Year Built
1970
Stories
1
Listing Agency:
(614) 660-5959
Listed By:
Brian McLaughlin
(614) 660-5959
Source:
Movenowohio
Added: Jul 4
Changed: Aug 14
Last Checked: Aug 21 at 4:03AM
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 Brian McLaughlin
Investment Insights
Based on property information with market context.
This secure retail storefront has been owned and operated for decades as a gunshop and is offered as a move-in ready commercial property. The building features reinforced doors and windows and an advanced alarm system designed to support a higher-security operating environment.
The property is located at 405 Bartram Avenue in Marion, Ohio.
With a history of continuous operation and purpose-built security features, the space may be suited for a range of commercial uses, depending on the buyer’s plans and applicable approvals.
The property is located at 405 Bartram Avenue in Marion, Ohio.
With a history of continuous operation and purpose-built security features, the space may be suited for a range of commercial uses, depending on the buyer’s plans and applicable approvals.
Key Highlights
- 840 SF commercial retail storefront on a 0.26‑acre lot
- Reinforced doors and windows built for a more secure operating environment
- Advanced alarm system in place for added security
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
$3,277
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
3.45%
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%
$65,540
$65.5K
Cap Rate 7%
$46,814
$46.8K
Cap Rate 9%
$36,411
$36.4K
Market Conditions
NOI Build-Up for 840 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
$4.9K $5.78/SF
− Vacancy
−$174 −$0.21/SF
EGI
$4.7K $5.57/SF
− OpEx
−$1.4K −$1.67/SF
NOI
$3.3K $3.90/SF
Area
Marion County, OH
Vacancy
3.58%
Lease Rate
$5.78 /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%
$65,540
Cap Rate 7%
$46,814
Cap Rate 9%
$36,411
Alternative Uses
Best Use
Retail
$46.8K
$41.0K – $54.6K
NOI $3,277 @ 7.0% cap · market cap 3.45%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$169.6K
$148.4K – $197.8K
NOI $11,869 @ 7.0% cap · market cap 12.49%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
366
Businesses Nearby
16k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
MotoMart
Shops & Services
15,612 visits/mo
0.4 miles
Demographics for 43302, OH
54,094
Population
22,483
Households
2.4
Avg Household Size
41
Median Age
13%
College-Educated
88%
High-School Grad
195.0 sq mi
ZIP Area
277
Density / Sq Mi
$53,833
Median Household Income
$36,816
Median Earnings
$853
Median Rent
$139,700
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?
Retail space - Retail storefront with reinforced doors and windows, plus an advanced alarm system for a secure operating environment.
Where is this retail space located?
The property is located at 405 Bartram Avenue Marion Marion, OH.
What is the asking price?
The asking price for this property is $95,000.
What are key features of this property?
This property features: 840 SF commercial retail storefront on a 0.26‑acre lot; Reinforced doors and windows built for a more secure operating environment; Advanced alarm system in place for added security
