Two-Unit Mixed-Use
New
For Sale
$160,000
171 Broad St, Conneaut, OH 44030
Former office space and an upstairs two-bedroom apartment have separate entrances.
Property Size1,608 SF
Price / SF$99.50
Days on Market2
Property Features for 171 Broad St
General Information
Standard status
Active
Size
1,608 SF
Units
Unit Mix
1 x 2BR
Multifamily Units
1
Office Units
1
Additional Details
Asking Price
$160,000
Building Details
Year Built
1920
Buildings
1
Tenancy
Multi
Listing Agency:
Berkshire Hathaway HomeServices Professional Realty
Listed By:
Rick L Furmage · License #408337
(440) 862-0906
Source:
Theacclaimedrealty
Added: Sep 8
Last Checked: Sep 8 at 2:37PM
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 Berkshire Hathaway HomeServices Professional Realty
Investment Insights
Based on property information with market context.
This mixed-use building contains two distinct components: a commercial area on the lower level and a two-bedroom apartment above. Each portion has its own entrance, providing physical separation between the business and residential spaces. The lower unit previously served as a law office, while the upper residence is configured as an apartment.
Built in 1920, the property is located at 171 Broad St in Conneaut, Ohio. Its combination of commercial and residential space supports a straightforward mixed-use configuration within a single building.
Built in 1920, the property is located at 171 Broad St in Conneaut, Ohio. Its combination of commercial and residential space supports a straightforward mixed-use configuration within a single building.
Key Highlights
- Two‑unit mixed‑use building with commercial and residential components
- Two‑bedroom apartment located on the upper level
- Separate entrances serve the commercial and residential spaces
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
$11,722
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
7.33%
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%
$234,440
$234.4K
Cap Rate 7%
$167,457
$167.5K
Cap Rate 9%
$130,244
$130.2K
Market Conditions
NOI Build-Up for 1,608 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
$20.8K $12.96/SF
− Vacancy
−$2.1K −$1.30/SF
EGI
$18.8K $11.66/SF
− OpEx
−$7.0K −$4.37/SF
NOI
$11.7K $7.29/SF
Area
Ashtabula County, OH
Vacancy
10.00%
Lease Rate
$12.96 /SF/Yr
Expense Ratio
37.50%
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%
$234,440
Cap Rate 7%
$167,457
Cap Rate 9%
$130,244
Alternative Uses
Best Use
Mixed Use
$167.5K
$146.5K – $195.4K
NOI $11,722 @ 7.0% cap · market cap 7.33%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$299.7K
$262.2K – $349.6K
NOI $20,976 @ 7.0% cap · market cap 13.11%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Office units
1
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
293
Businesses Nearby
Explore this area
Business Placement
Demographics for 44030, OH
15,868
Population
7,211
Households
2.2
Avg Household Size
43
Median Age
17%
College-Educated
88%
High-School Grad
58.7 sq mi
ZIP Area
270
Density / Sq Mi
$57,264
Median Household Income
$30,785
Median Earnings
$757
Median Rent
$136,300
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Former office space and an upstairs two-bedroom apartment have separate entrances.
Where is this mixed-use property located?
The property is located at 171 Broad St Conneaut, OH.
What is the asking price?
The asking price for this property is $160,000.
What are key features of this property?
This property features: Two‑unit mixed‑use building with commercial and residential components; Two‑bedroom apartment located on the upper level; Separate entrances serve the commercial and residential spaces
