Building Details

Year built 1887

Flooring type Wood

Building materials Block, Brick

Architectural style Victorian

Listing Agency: Howard Hanna Real Estate Services

Listed By: Megan Florence Show Phone

Added: Apr 18 Changed: Aug 26 Last Checked: Sep 13 at 9:06PM

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MLS# 1045070

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Investment Insights

Based on property information with market context.

Built in 1887, this Victorian storefront occupies 2,320 square feet on a 0.1-acre parcel at 15 S Chillicothe Street in South Charleston. The building features original wood flooring, high ceilings, exposed brick, block and brick construction, natural-gas heat, central air, and public sewer. A parking lot serves the property.

The storefront is positioned in the Luckey Block at the center of town, between four occupied businesses and near the village’s middle traffic light. South Charleston is in Clark County, approximately a 10-minute drive south of I-70 via SR41. The property is currently occupied by a boutique and is situated within the village’s historic district, offering a distinctive setting for continued retail use or another commercial concept supported by the existing storefront layout.

Key Highlights

• 2,320 square feet on a 0.1‑acre parcel
• Victorian storefront constructed in 1887
• Original wood floors, high ceilings, and exposed brick walls

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

$9,082

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

6.26%

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%

$181,640 $181.6K

Cap Rate 7%

$129,743 $129.7K

Cap Rate 9%

$100,911 $100.9K

Market Conditions

NOI Build-Up for 2,320 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

$13.5K $5.80/SF

− Vacancy

−$482 −$0.21/SF

EGI

$13.0K $5.59/SF

− OpEx

−$3.9K −$1.68/SF

NOI

$9.1K $3.91/SF

Area

Clark County, OH

Vacancy

3.58%

Lease Rate

$5.80 /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%

$181,640

Cap Rate 7%

$129,743

Cap Rate 9%

$100,911

Alternative Uses

Best Use

Retail

$129.7K

$113.5K – $151.4K (±1% cap)

NOI $9,082 @ 7.0% cap · market cap 6.26%

Second Best

—

—

no second resolved use

Theoretical Best

Specialty Retail

$647.1K

$566.2K – $755.0K (±1% cap)

NOI $45,298 @ 7.0% cap · market cap 31.24%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Storefront properties

Suggested Use

Top Pick Real Estate Agency Auto Repair Shop Building Supply Auto Parts Store Garden Center Plumbing Service

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

117

Businesses Nearby

10k

Monthly Visits Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Foot Traffic Nearby

Shops & Services 60% Groceries 40%

Marathon Petroleum Shops & Services

4,412 visits/mo 0.1 miles

Shoemakers IGA Supermarket Groceries

4,050 visits/mo 0.2 miles

Park National Bank Shops & Services

1,657 visits/mo 0.2 miles

Demographics for 45368, OH

4,817

Population

1,916

Households

2.5

Avg Household Size

44

Median Age

20%

College-Educated

90%

High-School Grad

79.2 sq mi

ZIP Area

61

Density / Sq Mi

$60,411

Median Household Income

$46,779

Median Earnings

$718

Median Rent

$156,100

Median Home Value

Market

Vacancy Rate% for Retail in Midwest region

8% 2020

7.3% 2021

6.5% 2022

6% 2023

5.7% 2024

6.3% 2025

Questions? Ask Rey

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What type of property is this? Where is this storefront properties located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Storefront property - Victorian commercial building with original wood floors, high ceilings, central air, and a parking lot.

Where is this storefront property located?

The property is located at 15 S Chillicothe Street South Charleston, OH.

What is the asking price?

The asking price for this property is $145,000.

What are key features of this property?

This property features: 2,320 square feet on a 0.1‑acre parcel; Victorian storefront constructed in 1887; Original wood floors, high ceilings, and exposed brick walls