For Sale
$499,900
1708 Eastern Ave, Gallipolis, OH 45631
Steel warehouse-distribution building with column-free interior, dock loading, office space, and a drive-in garage.
Property Size7,644 SF
Lot Size0.69 Acres
Price / SF$65.40
Days on Market97
Property Features for 1708 Eastern Ave
General Information
Standard status
Active
Property type
Distribution centers, Industrial properties, Warehouses, Retail space, Retail properties & Spaces, Office Units, Office Spaces, Other warehouses, Commercial real estate
Size
7,644 SF
Lot size
0.69 Acres
Building Details
Year Built
1973
Listing Agency:
(740) 446-3644
Listed By:
Melissa
(740) 446-3644
Added: May 8
Changed: Jun 25
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
$38,142
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
7.63%
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%
$762,840
$762.8K
Cap Rate 7%
$544,886
$544.9K
Cap Rate 9%
$423,800
$423.8K
Market Conditions
NOI Build-Up for 7,644 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
$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 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%
$762,840
Cap Rate 7%
$544,886
Cap Rate 9%
$423,800
Alternative Uses
Best Use
Office B
$1.34M
$1.17M – $1.56M
NOI $93,713 @ 7.0% cap · market cap 18.75%
Second Best
Retail
$1.26M
$1.10M – $1.47M
NOI $87,913 @ 7.0% cap · market cap 17.59%
Theoretical Best
Office A
$1.54M
$1.35M – $1.80M
NOI $107,779 @ 7.0% cap · market cap 21.56%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
228
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
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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.
