Mixed-Use Building with
For Sale
$422,000
1704 Eastern Ave, Gallipolis, OH 45631
Three apartments share the building with a ground-floor retail space and on-site parking.
Property Size4,320 SF
Price / SF$97.69
Days on Market16
Property Features for 1704 Eastern Ave
General Information
Standard status
Active
Size
4,320 SF
Total Parking Spaces
8
Site & Location
Corner Location
Yes
Utilities to Site
Yes
Taxes and HOA fees
Annual Taxes
$3,023
Building Details
Buildings
1
Stories
2
Construction
block
Tenancy
Multi
Listing Agency:
Wiseman Real Estate
(740) 446-3644
Listed By:
Joshua Myers · License #2023003842
(740) 534-3132
Source:
Exprealty
Added: Oct 2
Changed: Oct 16
Last Checked: Oct 16 at 2:16PM
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 Wiseman Real Estate
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This two-story, 4,320-square-foot block building combines a street-facing retail storefront with three apartments. A one-bedroom, one-bath apartment occupies the rear of the main floor; two additional apartments upstairs each have three bedrooms and one full bath. The property also includes approximately 8 parking spaces, city water and sewer, and a rubber roof installed approximately three years ago.
The building is at the corner of Eastern Avenue and Berger Avenue in Gallipolis, along a commercial corridor.
The building is at the corner of Eastern Avenue and Berger Avenue in Gallipolis, along a commercial corridor.
Key Highlights
- 4,320‑square‑foot, two‑story block building
- Retail storefront and three residential apartments
- Main‑floor apartment has 1 bedroom and 1 bath
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$29,614
Cap Rate
7.02%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$592,280
$592.3K
Cap Rate 7%
$423,057
$423.1K
Cap Rate 9%
$329,044
$329.0K
Market Conditions
NOI Build-Up for 4,320 SF
Gross rent
$44.1K $10.20/SF
− Vacancy
−$1.8K −$0.41/SF
EGI
$42.3K $9.79/SF
− OpEx
−$12.7K −$2.94/SF
NOI
$29.6K $6.86/SF
Area
Gallia County, OH
Vacancy
3.99%
Lease Rate
$10.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$592,280
Cap Rate 7%
$423,057
Cap Rate 9%
$329,044
Alternative Uses
Best Use
Retail
$709.8K
$621.1K – $828.1K
NOI $49,684 @ 7.0% cap · market cap 11.77%
Second Best
Multifamily LT 5
$423.1K
$370.2K – $493.6K
NOI $29,614 @ 7.0% cap · market cap 7.02%
Theoretical Best
Office A
$870.2K
$761.4K – $1.02M
NOI $60,911 @ 7.0% cap · market cap 14.43%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
175
Businesses Nearby
Explore this area
Business Placement
Demographics for 45631, OH
14,200
Population
6,328
Households
2.2
Avg Household Size
43
Median Age
19%
College-Educated
87%
High-School Grad
114.6 sq mi
ZIP Area
124
Density / Sq Mi
$54,772
Median Household Income
$36,382
Median Earnings
$807
Median Rent
$138,700
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Three apartments share the building with a ground-floor retail space and on-site parking.
Where is this mixed-use property located?
The property is located at 1704 Eastern Ave Gallipolis, OH.
What is the asking price?
The asking price for this property is $422,000.
What are key features of this property?
This property features: 4,320‑square‑foot, two‑story block building; Retail storefront and three residential apartments; Main‑floor apartment has 1 bedroom and 1 bath
