Mixed-Use Property with
New
For Sale
$449,900
911 9-11 S Main St, Mechanicsburg, OH 43044
Includes a fitness business, updated office space, and two upstairs apartments.
Property Size4,736 SF
Price / SF$94
Days on Market3
Property Features for 911 9-11 S Main St
General Information
Standard status
Active
Size
4,736 SF
Additional Details
Floor
1
Business Included
Yes
Office Units
1
Amenities
kitchenette
bath
Building Details
Year Built
1900
Stories
2
Listing Agency:
BHHS Metro & Fields Realty
(937) 869-0970
Listed By:
Dustin A Hurst · License #2004001827
Source:
Dreamcolumbus
Added: Aug 30
Changed: Aug 31
Last Checked: Aug 31 at 7:30PM
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 BHHS Metro & Fields Realty
Investment Insights
Based on property information with market context.
This 4,736-square-foot mixed-use property combines an established fitness operation with updated office and residential space. The fitness business, Rush Fitness, conveys with current memberships and existing gym equipment. The adjoining first-floor office includes a kitchenette and bath, while both commercial areas provide access from the front and rear alley.
Two updated apartments occupy the second floor, along with a shared hallway containing coin-operated laundry equipment. Each apartment offers two bedrooms, one full bath, and large windows facing Main Street. Built in 1900, the property is located at 911 9-11 S Main St in Downtown Mechanicsburg, Ohio.
Two updated apartments occupy the second floor, along with a shared hallway containing coin-operated laundry equipment. Each apartment offers two bedrooms, one full bath, and large windows facing Main Street. Built in 1900, the property is located at 911 9-11 S Main St in Downtown Mechanicsburg, Ohio.
Key Highlights
- 4,736‑square‑foot mixed‑use property built in 1900
- Rush Fitness included with current memberships and existing gym equipment
- Updated first‑floor office with kitchenette and bath
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
$16,366
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
3.64%
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%
$327,320
$327.3K
Cap Rate 7%
$233,800
$233.8K
Cap Rate 9%
$181,844
$181.8K
Market Conditions
NOI Build-Up for 4,736 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
$25.0K $5.28/SF
− Vacancy
−$1.6K −$0.34/SF
EGI
$23.4K $4.94/SF
− OpEx
−$7.0K −$1.48/SF
NOI
$16.4K $3.46/SF
Area
Champaign County, OH
Vacancy
6.50%
Lease Rate
$5.28 /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%
$327,320
Cap Rate 7%
$233,800
Cap Rate 9%
$181,844
Alternative Uses
Best Use
Office B
$813.9K
$712.2K – $949.6K
NOI $56,974 @ 7.0% cap · market cap 12.66%
Second Best
Multifamily LT 5
$233.8K
$204.6K – $272.8K
NOI $16,366 @ 7.0% cap · market cap 3.64%
Theoretical Best
Specialty Retail
$1.32M
$1.16M – $1.54M
NOI $92,471 @ 7.0% cap · market cap 20.55%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
1
Office units
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
76
Businesses Nearby
Explore this area
Business Placement
Demographics for 43044, OH
5,352
Population
2,054
Households
2.6
Avg Household Size
41
Median Age
16%
College-Educated
94%
High-School Grad
79.5 sq mi
ZIP Area
67
Density / Sq Mi
$68,141
Median Household Income
$40,910
Median Earnings
$797
Median Rent
$215,000
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Includes a fitness business, updated office space, and two upstairs apartments.
Where is this mixed-use property located?
The property is located at 911 9-11 S Main St Mechanicsburg, OH.
What is the asking price?
The asking price for this property is $449,900.
What are key features of this property?
This property features: 4,736‑square‑foot mixed‑use property built in 1900; Rush Fitness included with current memberships and existing gym equipment; Updated first‑floor office with kitchenette and bath
