Warehouse-Distribution Building with
For Sale
$499,900
1708 Eastern Ave, Gallipolis, OH 45631
SINGLE_FAMILY - Gallipolis, OH
Property Size7,644 SF
Lot Size0.69 Acres
Price / SF$65.40
Days on Market92
Property Features for 1708 Eastern Ave
General Information
Property type
Residential
Property subtype
Retail
Zoning
Commercial
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 2, Bathroom 1
Interior features
Flooring- Vinyl, Flooring- Concrete, High Bays
Lot features
Fenced- Part, Work Shop, Close Access to Highway
Standard status
Active
APN
00705201900,00705202
Size
7,644 SF
Lot size
0.69 Acres
Taxes and HOA fees
Tax Annual Amount
2984
Utilities
Heating system
Natural Gas, Forced Air
Cooling system
Central Air
Building Details
Year built
1973
Roof type
Metal
Listing Agency:
Wiseman Real Estate
(740) 446-3644
Listed By:
Melissa Bowman · License #SAL.2018003481
(740) 446-3644
Added: May 8
Changed: Aug 3
Last Checked: Aug 7 at 12:06AM
MLS# 2434889
Copyright © 2026 Athens County Board of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This commercial steel building is configured primarily as a warehouse-distribution center with a wide-span, column-free interior. The property includes a retail area and several office spaces, along with a drive-in garage currently utilized as a workshop. There are eight docking/loading bays on two distinct levels, plus a dedicated receiving area at the rear with two docks.
The building is located along Eastern Ave (SR 7) with approximately 120 feet of road frontage, providing visibility within the Gallipolis business district. Additional site access is available via a parking lot at the rear with direct access to Chatham Ave.
For tenants or buyers seeking flexible space for distribution and back-office operations, the combination of column-free warehouse area, multiple loading positions, and on-site office and retail areas supports a range of commercial uses. On-site receiving and docked loading can support efficient inbound operations, while the drive-in garage/workshop offers additional practical space for equipment staging or internal use.
The building is located along Eastern Ave (SR 7) with approximately 120 feet of road frontage, providing visibility within the Gallipolis business district. Additional site access is available via a parking lot at the rear with direct access to Chatham Ave.
For tenants or buyers seeking flexible space for distribution and back-office operations, the combination of column-free warehouse area, multiple loading positions, and on-site office and retail areas supports a range of commercial uses. On-site receiving and docked loading can support efficient inbound operations, while the drive-in garage/workshop offers additional practical space for equipment staging or internal use.
Key Highlights
- 7,644 SF steel commercial building built in 1973 with wide‑span, column‑free interior
- 120 ft road frontage along Eastern Ave (SR 7) with multiple docking/loading bays
- 8 docking/loading bays on two distinct levels plus a dedicated receiving area with two rear docks
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
Property Profile
Current Use
Lease Details
10
Dock-high doors
1
Drive-in doors
Yes
Paved road access
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
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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.
What are key features of this property?
This property features: 7,644 SF steel commercial building built in 1973 with wide‑span, column‑free interior; 120 ft road frontage along Eastern Ave (SR 7) with multiple docking/loading bays; 8 docking/loading bays on two distinct levels plus a dedicated receiving area with two rear docks
