Building Details

Building Size 4,400 SF

Year Built 1952

Listing Agency: SVN Summit Commercial Real Estate Advisors

Listed By: Brian Foster · License #2021008191 Show Phone

Source: Svnsummitcommercial

Added: Sep 18 Changed: Sep 19 Last Checked: Sep 19 at 7:47AM

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Investment Insights

Based on property information with market context.

This multifamily apartment property includes approximately 4,400 square feet of building area and was constructed in 1952. The modest-sized asset offers a straightforward physical profile for evaluating apartment operations and ongoing maintenance.

The property is located at 1724 Youngstown Kingsville Road in Vienna Township, Ohio, within ZIP Code 44473.

Key Highlights

• Approximately 4,400 square feet of building area
• Constructed in 1952
• Multifamily apartment property

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

$33,647

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

5.85%

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%

$672,940 $672.9K

Cap Rate 7%

$480,671 $480.7K

Cap Rate 9%

$373,856 $373.9K

Market Conditions

NOI Build-Up for 4,400 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

$64.9K $14.76/SF

− Vacancy

−$3.8K −$0.86/SF

EGI

$61.2K $13.90/SF

− OpEx

−$27.5K −$6.26/SF

NOI

$33.6K $7.65/SF

Area

Trumbull County, OH

Vacancy

5.80%

Lease Rate

$14.76 /SF/Yr

Expense Ratio

45.00%

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%

$672,940

Cap Rate 7%

$480,671

Cap Rate 9%

$373,856

Alternative Uses

Best Use

Apartment 5plus

$480.7K

$420.6K – $560.8K (±1% cap)

NOI $33,647 @ 7.0% cap · market cap 5.85%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$835.1K

$730.8K – $974.3K (±1% cap)

NOI $58,460 @ 7.0% cap · market cap 10.17%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Apartment buildings

Suggested Use

Top Pick Building Supply Auto Repair Shop Garden Center Storage Facility Food Market Restaurant

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

37

Businesses Nearby

Explore this area Business Placement

Demographics for 44473, OH

3,719

Population

1,961

Households

1.9

Avg Household Size

51

Median Age

29%

College-Educated

97%

High-School Grad

24.5 sq mi

ZIP Area

152

Density / Sq Mi

$76,382

Median Household Income

$40,102

Median Earnings

$953

Median Rent

$174,700

Median Home Value

Market

Vacancy Rate% for Multifamily in Midwest region

6.5% 2022

7.5% 2023

7.8% 2024

8% 2025

Questions? Ask Rey

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What type of property is this? Where is this apartment buildings located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Apartment building - Multifamily property with a building constructed in 1952.

Where is this apartment building located?

The property is located at 1724 Youngstown Kingsville Road Vienna, OH.

What is the asking price?

The asking price for this property is $575,000.

What are key features of this property?

This property features: Approximately 4,400 square feet of building area; Constructed in 1952; Multifamily apartment property