Retail Building with
For Sale
$195,000
1590 Celina Road, Saint Marys, OH 45885
Open commercial layout with electric HVAC, dual restrooms, paved parking, and a drive-through pickup window.
Property Size2,455 SF
Price / SF$79.43
Days on Market78
Property Features for 1590 Celina Road
General Information
Standard status
Active
Size
2,455 SF
Total Parking Spaces
48
Property subtype
General Commercial
Restaurant
Commercial Hood
Yes
Equipment Included
No
Additional Details
Drive-Thru
Yes
Taxes and HOA fees
Annual Taxes
$2,326
Amenities
3
Parking.
Paved Driveway, Lot, On Site, Private.
124x299
State Road, Concrete Road.
Building Details
Year Built
1978
Buildings
1
Construction
brick
Listing Agency:
Cisco Realty
(419) 394-6404
Listed By:
Lindsay Toy Swick
(419) 394-6404
Source:
Xome
Added: Jun 15
Changed: Aug 30
Last Checked: Aug 30 at 2:11PM
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 Cisco Realty
Investment Insights
Based on property information with market context.
Located at 1590 Celina Road in Saint Marys, Ohio, this 2,455-square-foot retail building offers an open interior with brick construction and wood trim. The layout includes men’s and women’s restrooms, two customer entry and exit doors, a separate employee entrance, and a drive-through pickup window with a register area. Electric heat and air conditioning serve the building.
The former commercial kitchen was removed in 2022, while the kitchen hood remains in place. Additional built-in features include a storage room, mop sink area, space planned for a walk-in cooler, and another storage area suitable for beverage products. A new roof was installed in fall 2022 after the prior roof was removed.
The property includes approximately 48 parking spaces on a concrete lot, with entry and exit access on both sides of the building. The site dimensions are approximately 124x299.
The former commercial kitchen was removed in 2022, while the kitchen hood remains in place. Additional built-in features include a storage room, mop sink area, space planned for a walk-in cooler, and another storage area suitable for beverage products. A new roof was installed in fall 2022 after the prior roof was removed.
The property includes approximately 48 parking spaces on a concrete lot, with entry and exit access on both sides of the building. The site dimensions are approximately 124x299.
Key Highlights
- 2,455‑square‑foot retail building at 1590 Celina Road, Saint Marys, OH 45885
- Drive‑through pickup window with register area
- Approximately 48 parking spaces on a concrete lot
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
$9,743
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
5.00%
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%
$194,860
$194.9K
Cap Rate 7%
$139,186
$139.2K
Cap Rate 9%
$108,256
$108.3K
Market Conditions
NOI Build-Up for 2,455 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
$14.4K $5.88/SF
− Vacancy
−$517 −$0.21/SF
EGI
$13.9K $5.67/SF
− OpEx
−$4.2K −$1.70/SF
NOI
$9.7K $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%
$194,860
Cap Rate 7%
$139,186
Cap Rate 9%
$108,256
Alternative Uses
Best Use
Retail
$139.2K
$121.8K – $162.4K
NOI $9,743 @ 7.0% cap · market cap 5.00%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$494.5K
$432.7K – $576.9K
NOI $34,615 @ 7.0% cap · market cap 17.75%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Commercial hood
Location Intelligence
Trade Area within ½ mile
193
Businesses Nearby
19k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 42%
Dining 41%
Home Improvements & Furnishings 15%
Hotels & Casinos 3%
Dollar General
Shops & Services
7,680 visits/mo
0.5 miles
La Carreta
Dining
6,144 visits/mo
0.4 miles
True Value Of St Mary's
Home Improvements & Furnishings
2,268 visits/mo
0.2 miles
Domino's Pizza
Dining
1,073 visits/mo
0.2 miles
Sherwin-Williams Paint Store
Home Improvements & Furnishings
635 visits/mo
0.2 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
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Frequently Asked Questions
What type of property is this?
Retail space - Open commercial layout with electric HVAC, dual restrooms, paved parking, and a drive-through pickup window.
Where is this retail space located?
The property is located at 1590 Celina Road Saint Marys, OH.
What is the asking price?
The asking price for this property is $195,000.
What are key features of this property?
This property features: 2,455‑square‑foot retail building at 1590 Celina Road, Saint Marys, OH 45885; Drive‑through pickup window with register area; Approximately 48 parking spaces on a concrete lot
