Retail and Service
For Sale
$219,900
150 E Lake Street, Lakeview, OH 43331
COMMERCIAL - Lakeview, OH
Property Size2,400 SF
Lot Size0.21 Acres
Price / SF$91.63
Days on Market166
Property Features for 150 E Lake Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
Commercial
Parking
18
Parking features
Parking Lot
Appliances
Gas Water Heater, Water Softener Owned
Directions
State Route 33, West on Lake Ave. The building is currently called ''Trina's Second Hand Rose'' and is directly across from Osgood Bank.
Subdivision
902 Indian Lake
Standard status
Active
APN
470171809009000
Size
2,400 SF
Lot size
0.21 Acres
Taxes and HOA fees
Tax Year
2025
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas, Forced Air
Cooling system
Central Air
Water front features
Lake
Water front
1
Building Details
Year built
1930
Flooring type
Vinyl
Building materials
Masonry, Vinyl Siding
Listing Agency:
Key Realty
(877) 539-7589
Listed By:
Ryan Beelman · License #2020001554
(877) 539-7589
Added: Feb 27
Changed: Aug 5
Last Checked: Aug 12 at 5:06AM
MLS# 1043990
Copyright © 2026 Western Regional Information System & Technology, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This well-maintained commercial building totals 2,400 sq ft above grade and includes a full basement. The property has been updated with a new roof, siding, flooring, and storefront windows and doors completed in 2024. Electrical and plumbing systems were updated in 2021, and the building offers both single-phase and three-phase electric. The space currently operates as a furniture store and tanning salon, with prior operation as a salon, spa, and tanning studio, supporting flexible uses for the right operator.
Located in Lakeview, the property sits at 150 E Lake Street and is described as being two blocks from Indian Lake and steps from the waterfront and downtown core, providing direct access and visibility. A paved lot adjacent to the building provides 18 parking spaces.
The configuration includes a retail/service storefront and full basement area, complemented by dedicated on-site parking for customers and staff.
Located in Lakeview, the property sits at 150 E Lake Street and is described as being two blocks from Indian Lake and steps from the waterfront and downtown core, providing direct access and visibility. A paved lot adjacent to the building provides 18 parking spaces.
The configuration includes a retail/service storefront and full basement area, complemented by dedicated on-site parking for customers and staff.
Key Highlights
- Versatile 2,400 sq ft commercial building with full basement, currently used as a furniture store and tanning salon
- Major 2024 updates: new roof, siding, flooring, storefront windows, and doors
- Electrical and plumbing fully updated in 2021; both single‑phase and three‑phase electric available
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
$9,395
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
4.27%
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%
$187,900
$187.9K
Cap Rate 7%
$134,214
$134.2K
Cap Rate 9%
$104,389
$104.4K
Market Conditions
NOI Build-Up for 2,400 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
$13.9K $5.80/SF
− Vacancy
−$498 −$0.21/SF
EGI
$13.4K $5.59/SF
− OpEx
−$4.0K −$1.68/SF
NOI
$9.4K $3.91/SF
Area
Logan 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%
$187,900
Cap Rate 7%
$134,214
Cap Rate 9%
$104,389
Alternative Uses
Best Use
Retail
$134.2K
$117.4K – $156.6K
NOI $9,395 @ 7.0% cap · market cap 4.27%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$484.5K
$423.9K – $565.2K
NOI $33,913 @ 7.0% cap · market cap 15.42%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
131
Businesses Nearby
981
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Carquest Auto Parts
Shops & Services
981 visits/mo
0.2 miles
Demographics for 43331, OH
4,428
Population
3,578
Households
1.2
Avg Household Size
53
Median Age
16%
College-Educated
94%
High-School Grad
30.8 sq mi
ZIP Area
144
Density / Sq Mi
$60,159
Median Household Income
$44,057
Median Earnings
$886
Median Rent
$130,300
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.
Similar Off Market Nearby
- Peach's Herb and Flower LLC — 180 S Main St, units 8&9, 180 S Main St, Lakeview, OH 43331
Frequently Asked Questions
What type of property is this?
Storefront property - Well-maintained 2,400 sq ft building with updated roof, siding, and storefront windows plus an 18-space paved parking lot.
Where is this storefront property located?
The property is located at 150 E Lake Street Lakeview, OH.
What is the asking price?
The asking price for this property is $219,900.
What are key features of this property?
This property features: Versatile 2,400 sq ft commercial building with full basement, currently used as a furniture store and tanning salon; Major 2024 updates: new roof, siding, flooring, storefront windows, and doors; Electrical and plumbing fully updated in 2021; both single‑phase and three‑phase electric available
