Former Tire Shop with Fuel
For Sale
$65,000
130 Melmore Street, Tiffin, OH 44883
Former tire shop includes two fuel pumps for regular gas and diesel, currently shut down.
Property Size1,280 SF
Days on Market45
Property Features for 130 Melmore Street
General Information
Standard status
Active
Size
1,280 SF
Property subtype
Commercial
Zoning
commercial
Taxes and HOA fees
Annual Taxes
$1,849
Building Details
Building Size
1,280 SF
Year Built
1936
Units
1
Listing Agency:
Signature Real Estate
Listed By:
Ibrahim B Al-Hejazin · License #2015005225
(614) 774-9523
Source:
Honnerlawrealestate
Added: Jul 26
Changed: Sep 8
Last Checked: Sep 7 at 4:01PM
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 Signature Real Estate
Investment Insights
Based on property information with market context.
This former tire shop property is being offered through an online real estate auction with a minimum reserve. The site includes two fuel pumps, designated for regular gas and diesel, though both are currently shut down, and the property would benefit from remodeling to support future use.
The property is located at 130 Melmore St in Tiffin, Ohio. Realtors are required to submit a property-specific signed agency disclosure to register clients, and instructions for participation are provided in the agent-to-agent remarks.
For buyers seeking an automotive-oriented business site, the existing tire shop improvements combined with the included fuel pump infrastructure provide a starting point for conversion to an auto service and fueling configuration, subject to applicable remodeling and operating requirements.
The property is located at 130 Melmore St in Tiffin, Ohio. Realtors are required to submit a property-specific signed agency disclosure to register clients, and instructions for participation are provided in the agent-to-agent remarks.
For buyers seeking an automotive-oriented business site, the existing tire shop improvements combined with the included fuel pump infrastructure provide a starting point for conversion to an auto service and fueling configuration, subject to applicable remodeling and operating requirements.
Key Highlights
- Former tire shop at 130 Melmore St, Tiffin, Ohio
- Includes two fuel pumps: regular gas and diesel (currently shut down)
- Former tire shop offers the opportunity to convert the site to an auto service and fueling station with remodeling
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
$5,276
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
8.12%
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%
$105,520
$105.5K
Cap Rate 7%
$75,371
$75.4K
Cap Rate 9%
$58,622
$58.6K
Market Conditions
NOI Build-Up for 1,280 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
$7.3K $5.70/SF
− Vacancy
−$261 −$0.20/SF
EGI
$7.0K $5.50/SF
− OpEx
−$1.8K −$1.37/SF
NOI
$5.3K $4.12/SF
Area
Seneca County, OH
Vacancy
3.58%
Lease Rate
$5.70 /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%
$105,520
Cap Rate 7%
$75,371
Cap Rate 9%
$58,622
Alternative Uses
Best Use
Specialty Retail
$75.4K
$66.0K – $87.9K
NOI $5,276 @ 7.0% cap · market cap 8.12%
Second Best
Industrial
$75.1K
$65.8K – $87.7K
NOI $5,260 @ 7.0% cap · market cap 8.09%
Theoretical Best
Office A
$271.4K
$237.5K – $316.7K
NOI $19,000 @ 7.0% cap · market cap 29.23%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
556
Businesses Nearby
10k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 89%
Dining 11%
Circle K
Shops & Services
8,494 visits/mo
0.1 miles
Marco's Pizza
Dining
1,085 visits/mo
0.1 miles
Demographics for 44883, OH
28,690
Population
12,823
Households
2.2
Avg Household Size
40
Median Age
27%
College-Educated
94%
High-School Grad
164.9 sq mi
ZIP Area
174
Density / Sq Mi
$62,497
Median Household Income
$37,000
Median Earnings
$831
Median Rent
$152,600
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Carmans auto repair — 101 Ella St, Tiffin, OH 44883
- Circle H Tire — 130 Melmore St, Tiffin, OH 44883
- Circle H — 130 melmore st, tiffin, oh 44883
- Pioneer Quick Lube Tiffin 03 — 195 W Market St, Tiffin, OH 44883
- Klay Tire Oil Inc — 230 E Market St, Tiffin, OH 44883
Frequently Asked Questions
What type of property is this?
Auto shop - Former tire shop includes two fuel pumps for regular gas and diesel, currently shut down.
Where is this auto shop located?
The property is located at 130 Melmore Street Tiffin, OH.
What is the asking price?
The asking price for this property is $65,000.
What are key features of this property?
This property features: Former tire shop at 130 Melmore St, Tiffin, Ohio; Includes two fuel pumps: regular gas and diesel (currently shut down); Former tire shop offers the opportunity to convert the site to an auto service and fueling station with remodeling
