1708 Eastern Ave, Gallipolis, OH 45631

Building Details

Year Built 1973 More

Listed By: Melissa Bowman Show Phone

Added: May 8 Changed: Jun 25

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Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$38,142

Cap Rate

7.63%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$762,840 $762.8K

Cap Rate 7%

$544,886 $544.9K

Cap Rate 9%

$423,800 $423.8K

Is this asking price fair?

Market Conditions

NOI Build-Up for 7,644 SF

Gross rent

$49.0K $6.41/SF

− Vacancy

−$4.1K −$0.54/SF

EGI

$44.9K $5.87/SF

− OpEx

−$6.7K −$0.88/SF

NOI

$38.1K $4.99/SF

Area

Gallia County, OH

Vacancy

8.42%

Lease Rate

$6.41 /SF/Yr

Expense Ratio

15.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$762,840

Cap Rate 7%

$544,886

Cap Rate 9%

$423,800

Alternative Uses

Best Use

Office B

$1.34M

$1.17M – $1.56M (±1% cap)

NOI $93,713 @ 7.0% cap · market cap 18.75%

Second Best

Retail

$1.26M

$1.10M – $1.47M (±1% cap)

NOI $87,913 @ 7.0% cap · market cap 17.59%

Theoretical Best

Office A

$1.54M

$1.35M – $1.80M (±1% cap)

NOI $107,779 @ 7.0% cap · market cap 21.56%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Current Use

Distribution centers

Suggested Use

Top Pick Real Estate Agency Building Supply HVAC Service Hair Salon Grocery & Convenience Store Nail Salon

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

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 Office in Midwest region

13.7% 2019

15.6% 2020

17.1% 2021

18.9% 2022

21% 2023

22% 2024

21.3% 2025

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Frequently Asked Questions

What type of property is this?

Distribution center - Steel warehouse-distribution building with column-free interior, dock loading, office space, and a drive-in garage.

Where is this distribution center located?

The property is located at 1708 Eastern Ave Gallipolis, OH.

What is the asking price?

The asking price for this property is $499,900.