Downtown Mixed-Use Property with
For Sale
$900,000
16-20 E High Street #18, London, OH 43140
Fully leased building combines a renovated bar and three one-bedroom apartments with patio and parking amenities.
Property Size2,948 SF
Price / SF$157.89
Days on Market350
Property Features for 16-20 E High Street #18
General Information
Standard status
Active
Size
2,948 SF
Property subtype
Commercial
Occupancy
100%
Financials
Gross Income
$72,600
Average Monthly Rent
$850
Units
Unit Mix
3 x 1BR/1BA
Multifamily Units
3
Additional Details
Liquor License
Yes
Taxes and HOA fees
Annual Taxes
$1,071
Amenities
outdoor patio
Building Details
Building Size
2,948 SF
Year Built
1930
Tenancy
Multi
Listing Agency:
Buckeye Realty Group
(614) 565-6064
Listed By:
Easter M Aleshire
(614) 565-6064
Source:
Carolgoffrealestate
Added: Sep 13, 2025
Changed: Aug 28
Last Checked: Aug 28 at 11:28AM
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 Buckeye Realty Group
Investment Insights
Based on property information with market context.
This mixed-use property at 16-20 E High Street in London, Ohio, contains over 5,700 square feet and was built in 1930. The lower level features a recently renovated bar with a full kitchen, dining space, DJ area, outdoor patio, and D5 and D6 licenses. Building improvements include an upgraded roof, new HVAC, and updated wiring.
The upper level contains three one-bedroom, one-bathroom apartments. The property is fully leased and includes on-site parking, providing a combination of commercial and residential components within a single downtown building.
The upper level contains three one-bedroom, one-bathroom apartments. The property is fully leased and includes on-site parking, providing a combination of commercial and residential components within a single downtown building.
Key Highlights
- Over 5,700 square feet in a fully leased mixed‑use property
- Lower‑level bar includes full kitchen, dining area, DJ space, and outdoor patio
- D5 and D6 licenses included
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
$58,902
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
6.54%
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%
$1,178,040
$1.2M
Cap Rate 7%
$841,457
$841.5K
Cap Rate 9%
$654,467
$654.5K
Market Conditions
NOI Build-Up for 5,700 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
$116.3K $20.40/SF
− Vacancy
−$9.2K −$1.61/SF
EGI
$107.1K $18.79/SF
− OpEx
−$48.2K −$8.45/SF
NOI
$58.9K $10.33/SF
Area
Madison County, OH
Vacancy
7.90%
Lease Rate
$20.40 /SF/Yr
Expense Ratio
45.00%
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%
$1,178,040
Cap Rate 7%
$841,457
Cap Rate 9%
$654,467
Alternative Uses
Best Use
Apartment 5plus
$841.5K
$736.3K – $981.7K
NOI $58,902 @ 7.0% cap · market cap 6.54%
Second Best
Mixed Use
$824.5K
$721.4K – $961.9K
NOI $57,713 @ 7.0% cap · market cap 6.41%
Theoretical Best
Warehouse
$1.15M
$1.01M – $1.34M
NOI $80,419 @ 7.0% cap · market cap 8.94%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
3
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Yes
Liquor license
Location Intelligence
Trade Area within ½ mile
13
Businesses Nearby
Explore this area
Business Placement
Demographics for 43140, OH
24,030
Population
8,419
Households
2.9
Avg Household Size
41
Median Age
20%
College-Educated
87%
High-School Grad
219.9 sq mi
ZIP Area
109
Density / Sq Mi
$82,598
Median Household Income
$44,378
Median Earnings
$901
Median Rent
$228,000
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Fully leased building combines a renovated bar and three one-bedroom apartments with patio and parking amenities.
Where is this mixed-use property located?
The property is located at 16-20 E High Street #18 London, OH.
What is the asking price?
The asking price for this property is $900,000.
What are key features of this property?
This property features: Over 5,700 square feet in a fully leased mixed‑use property; Lower‑level bar includes full kitchen, dining area, DJ space, and outdoor patio; D5 and D6 licenses included
