Renovated Downtown Retail
24 S Main St London, OH 43140
For Sale
Contact for pricing
Move-in ready retail building with skylights, hardwood floors, and rear bathrooms, stock room, and basement.
Property Size3,089 SF
Price / SF$119.75
Days on Market597
Property Features for 24 S Main St
General Information
Standard status
Active
Size
3,089 SF
Property subtype
RETAIL
Listing Agency:
Westwood Commercial Real Estate
(614) 869-7139
Listed By:
Douglas D. Smith · License #2018005015
(614) 869-7139
Source:
Moodyscre
Added: Dec 9, 2024
Changed: Jul 28
Last Checked: Jul 28 at 7:59AM
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 Westwood Commercial Real Estate
Investment Insights
Based on property information with market context.
This beautifully renovated, move-in ready retail building offers hardwood floors throughout the main sales area. Natural light is provided by skylights and large storefront windows. The rear portion of the space includes two bathrooms, a stock room, and a basement, supporting day-to-day storage and back-of-house needs. The property also features ceiling fans throughout, a sound system, ADT security, and insulation. The building underwent a full gut-and-renovation in 2012, and the roof and furnace were replaced within the last 10 years.
Located at 24 S Main St in Downtown London, the property sits within the Historic District and is described as being near significant redevelopment efforts, including renovated apartments and new storefronts. Abundant street parking is available.
According to the offering materials, the property offers an owner-user opportunity or investment potential with a potential 7%+ cap rate.
Located at 24 S Main St in Downtown London, the property sits within the Historic District and is described as being near significant redevelopment efforts, including renovated apartments and new storefronts. Abundant street parking is available.
According to the offering materials, the property offers an owner-user opportunity or investment potential with a potential 7%+ cap rate.
Key Highlights
- Beautifully renovated, move‑in ready commercial retail building in Downtown London
- Hardwood floors throughout with lots of natural light from skylights and large storefront windows
- Rear of the space includes 2 bathrooms plus a stock room and basement
Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $18.2k | $5.88 |
| − Vacancy | −$650 | −$0.21 |
| EGI | $17.5k | $5.67 |
| − OpEx | −$5.3k | −$1.70 |
| NOI | $12.3k | $3.97 |
3,089 SF · lease $5.88/SF/yr · vacancy 3.58% · expense 30.00%
Alternative Uses
Best Use
Retail
$175.1K
$153.2K – $204.3K
NOI $12,259 @ 7.0% cap · market cap 3.31%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$622.6K
$544.8K – $726.4K
NOI $43,582 @ 7.0% cap · market cap 11.78%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Storefront property - Move-in ready retail building with skylights, hardwood floors, and rear bathrooms, stock room, and basement.
Where is this storefront property located?
The property is located at 24 S Main St London, OH.
What is the asking price?
The asking price for this property is $369,900.
What are key features of this property?
This property features: Beautifully renovated, move‑in ready commercial retail building in Downtown London; Hardwood floors throughout with lots of natural light from skylights and large storefront windows; Rear of the space includes 2 bathrooms plus a stock room and basement
