Commercial Land with Existing
For Sale
$795,000
135 & 119 S Eagle Street, Geneva, OH 44041
CBD-zoned land includes two existing structures and frontage on South Eagle Street and Park Street.
Property Size7,882 SF
Days on Market409
Property Features for 135 & 119 S Eagle Street
General Information
Standard status
Active
Size
7,882 SF
Property subtype
Commercial
Zoning
Commercial
Taxes and HOA fees
Annual Taxes
$6,332
Building Details
Building Size
7,882 SF
Year Built
2013
Buildings
2
Listing Agency:
Miller Realty
(440) 645-7811
Listed By:
James E Miller Iv · License #2015004428
(440) 645-7811
Source:
Carolgoffrealestate
Added: Jul 18, 2025
Changed: Aug 28
Last Checked: Aug 29 at 10:22AM
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 Miller Realty
Investment Insights
Based on property information with market context.
This commercial land offering combines two parcels with approximately 3.38 acres and two existing buildings. The property includes a 4,568-square-foot former food and wine facility with a commercial kitchen, tasting room, educational area, and outdoor patio, along with a 3,314-square-foot adjacent office structure. The improvements date to 2013 and provide a foundation for redevelopment or adaptive reuse.
The site carries CBD zoning and may be eligible for inclusion in Geneva’s Designated Outdoor Refreshment Area. Nearly 900 feet of combined frontage extends along South Eagle Street and Park Street. The property is located minutes from I-90, SPIRE, Lake Erie, and the Grand River Valley wine region. Parcel areas are 2.969 acres and 0.42 acres.
The site carries CBD zoning and may be eligible for inclusion in Geneva’s Designated Outdoor Refreshment Area. Nearly 900 feet of combined frontage extends along South Eagle Street and Park Street. The property is located minutes from I-90, SPIRE, Lake Erie, and the Grand River Valley wine region. Parcel areas are 2.969 acres and 0.42 acres.
Key Highlights
- Approximately 3.38 acres across two parcels
- Nearly 900 feet of combined frontage on South Eagle St and Park St
- 4,568‑square‑foot former food and wine facility with commercial kitchen
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
$27,252
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
3.43%
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%
$545,040
$545.0K
Cap Rate 7%
$389,314
$389.3K
Cap Rate 9%
$302,800
$302.8K
Market Conditions
NOI Build-Up for 7,882 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
$39.7K $5.04/SF
− Vacancy
−$795 −$0.10/SF
EGI
$38.9K $4.94/SF
− OpEx
−$11.7K −$1.48/SF
NOI
$27.3K $3.46/SF
Area
Ashtabula County, OH
Vacancy
2.00%
Lease Rate
$5.04 /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%
$545,040
Cap Rate 7%
$389,314
Cap Rate 9%
$302,800
Alternative Uses
Best Use
Specialty Retail
$1.14M
$993.9K – $1.33M
NOI $79,512 @ 7.0% cap · market cap 10.00%
Second Best
Industrial
$389.3K
$340.7K – $454.2K
NOI $27,252 @ 7.0% cap · market cap 3.43%
Theoretical Best
Office A
$1.47M
$1.29M – $1.71M
NOI $102,817 @ 7.0% cap · market cap 12.93%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
476
Businesses Nearby
31k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 82%
Home Improvements & Furnishings 13%
Dining 5%
Circle K
Shops & Services
7,694 visits/mo
0.1 miles
Huntington Bank
Shops & Services
5,840 visits/mo
0.3 miles
Sunoco
Shops & Services
4,049 visits/mo
0.4 miles
Marathon Petroleum
Shops & Services
2,965 visits/mo
0.2 miles
Family Dollar
Shops & Services
2,609 visits/mo
0.4 miles
Demographics for 44041, OH
13,910
Population
7,155
Households
1.9
Avg Household Size
46
Median Age
18%
College-Educated
91%
High-School Grad
65.1 sq mi
ZIP Area
214
Density / Sq Mi
$58,438
Median Household Income
$37,644
Median Earnings
$816
Median Rent
$167,000
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?
Commercial land - CBD-zoned land includes two existing structures and frontage on South Eagle Street and Park Street.
Where is this commercial land located?
The property is located at 135 & 119 S Eagle Street Geneva, OH.
What is the asking price?
The asking price for this property is $795,000.
What are key features of this property?
This property features: Approximately 3.38 acres across two parcels; Nearly 900 feet of combined frontage on South Eagle St and Park St; 4,568‑square‑foot former food and wine facility with commercial kitchen
