Mixed-Use Property with
For Sale
$900,000
1620 16-20 E High St Unit 18, London, OH 43140
Fully leased building combines a renovated bar and restaurant component with three one-bedroom apartments.
Property Size5,700 SF
Price / SF$157.89
Days on Market40
Property Features for 1620 16-20 E High St Unit 18
General Information
Standard status
Active
Size
5,700 SF
Occupancy
100%
Additional Details
Patio
Yes
Building Details
Year Built
1930
Listing Agency:
Buckeye Realty Group
(614) 565-6064
Listed By:
Easter M Aleshire
Source:
Thelorilynngroup
Added: Jul 21
Changed: Aug 28
Last Checked: Aug 28 at 7:58PM
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 1620 16-20 E High St Unit 18 includes a ground-floor bar and restaurant space with a full kitchen, dining area, bar, DJ area, and outdoor patio. The commercial space holds D5 and D6 licenses and has benefited from a renovated roof, newer HVAC equipment, and updated wiring.
The upper level contains three one-bedroom, one-bathroom apartments. The property is fully leased and includes on-site parking. Built in 1930, the building offers a combination of commercial and residential occupancy in downtown London, Ohio.
The upper level contains three one-bedroom, one-bathroom apartments. The property is fully leased and includes on-site parking. Built in 1930, the building offers a combination of commercial and residential occupancy in downtown London, Ohio.
Key Highlights
- Ground‑floor bar and restaurant space with D5 and D6 licenses
- Full kitchen, dining area, bar, DJ area, and outdoor patio
- Three 1‑bedroom, 1‑bathroom apartments on the upper level
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
$60,437
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
6.72%
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%
$1,208,740
$1.2M
Cap Rate 7%
$863,386
$863.4K
Cap Rate 9%
$671,522
$671.5K
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
$92.3K $16.20/SF
− Vacancy
−$6.0K −$1.05/SF
EGI
$86.3K $15.15/SF
− OpEx
−$25.9K −$4.54/SF
NOI
$60.4K $10.60/SF
Area
Madison County, OH
Vacancy
6.50%
Lease Rate
$16.20 /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%
$1,208,740
Cap Rate 7%
$863,386
Cap Rate 9%
$671,522
Alternative Uses
Best Use
Multifamily LT 5
$863.4K
$755.5K – $1.01M
NOI $60,437 @ 7.0% cap · market cap 6.72%
Second Best
Apartment 5plus
$841.5K
$736.3K – $981.7K
NOI $58,902 @ 7.0% cap · market cap 6.54%
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
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
10
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 restaurant component with three one-bedroom apartments.
Where is this mixed-use property located?
The property is located at 1620 16-20 E High St Unit 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: Ground‑floor bar and restaurant space with D5 and D6 licenses; Full kitchen, dining area, bar, DJ area, and outdoor patio; Three 1‑bedroom, 1‑bathroom apartments on the upper level
