Storefront Property with Cold
New
For Sale
$199,000
131 Spruce Street, Saint Marys, OH 45885
Commercial storefront with an attached storage structure, cold-storage capacity, and on-site parking.
Property Size3,895 SF
Price / SF$51.09
Days on Market6
Property Features for 131 Spruce Street
General Information
Standard status
Active
Size
3,895 SF
Property subtype
General Commercial
Taxes and HOA fees
Annual Taxes
$1,315
Amenities
3
Parking.
5 Parking Spaces. Lot.
.65
Extra Storage. City Road.
Building Details
Year Built
1900
Listing Agency:
Dye Real Estate & Land Company
(419) 516-4106
Listed By:
Devin Dye
(419) 516-4106
Source:
Xome
Added: Aug 17
Changed: Aug 22
Last Checked: Aug 22 at 4:39AM
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 Dye Real Estate & Land Company
Investment Insights
Based on property information with market context.
This 3,895-square-foot storefront property includes an attached house formerly used for storage, with cold-storage space among the improvements. The building dates to 1900 and includes extra storage areas and on-site parking with five spaces.
The offering consists of five parcels at 131 Spruce Street in Saint Marys, Ohio. The parcel group includes the parking area on Bates, an additional Bates lot, and a lot on E South Street, creating a multi-parcel commercial property with several connected components.
The offering consists of five parcels at 131 Spruce Street in Saint Marys, Ohio. The parcel group includes the parking area on Bates, an additional Bates lot, and a lot on E South Street, creating a multi-parcel commercial property with several connected components.
Key Highlights
- 3,895‑square‑foot storefront property
- Five parcels included in the offering
- Attached storage structure with cold‑storage space
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
$15,458
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
7.77%
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%
$309,160
$309.2K
Cap Rate 7%
$220,829
$220.8K
Cap Rate 9%
$171,756
$171.8K
Market Conditions
NOI Build-Up for 3,895 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
$22.9K $5.88/SF
− Vacancy
−$820 −$0.21/SF
EGI
$22.1K $5.67/SF
− OpEx
−$6.6K −$1.70/SF
NOI
$15.5K $3.97/SF
Area
Auglaize County, OH
Vacancy
3.58%
Lease Rate
$5.88 /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%
$309,160
Cap Rate 7%
$220,829
Cap Rate 9%
$171,756
Alternative Uses
Best Use
Retail
$220.8K
$193.2K – $257.6K
NOI $15,458 @ 7.0% cap · market cap 7.77%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$784.6K
$686.5K – $915.3K
NOI $54,919 @ 7.0% cap · market cap 27.60%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
387
Businesses Nearby
20k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Circle K
Shops & Services
13,008 visits/mo
0.2 miles
Marathon Petroleum
Shops & Services
6,510 visits/mo
0.4 miles
Demographics for 45885, OH
12,863
Population
5,734
Households
2.2
Avg Household Size
41
Median Age
16%
College-Educated
95%
High-School Grad
72.4 sq mi
ZIP Area
178
Density / Sq Mi
$75,054
Median Household Income
$43,812
Median Earnings
$882
Median Rent
$153,900
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.
Frequently Asked Questions
What type of property is this?
Storefront property - Commercial storefront with an attached storage structure, cold-storage capacity, and on-site parking.
Where is this storefront property located?
The property is located at 131 Spruce Street Saint Marys, OH.
What is the asking price?
The asking price for this property is $199,000.
What are key features of this property?
This property features: 3,895‑square‑foot storefront property; Five parcels included in the offering; Attached storage structure with cold‑storage space
