Mixed-Use Property with
New
For Sale
$119,900
180 Washington St, Conneaut, OH 44030
Two-level layout combines professional office space with a residential unit.
Property Size1,512 SF
Price / SF$79.30
Days on Market3
Property Features for 180 Washington St
General Information
Standard status
Active
Size
1,512 SF
Units
Unit Mix
1 x 1BR
Multifamily Units
1
Additional Details
Average Monthly Rent
$650
Building Details
Year Built
1925
Buildings
1
Stories
2
Listing Agency:
Berkshire Hathaway HomeServices Professional Realty
Listed By:
Rick L Furmage · License #408337
(440) 862-0906
Source:
Theacclaimedrealty
Added: Sep 9
Last Checked: Sep 11 at 12:59PM
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.
Built in 1925, this 1,512-square-foot mixed-use property combines a professional office layout with residential space. The main level includes three executive offices, a reception area, and a half bath, while the second floor contains a one-bedroom apartment.
The property is located in downtown Conneaut at 180 Washington St, providing a commercial setting with street-facing exposure. Its combination of office and apartment space supports a flexible mixed-use configuration within a compact two-story building.
The property is located in downtown Conneaut at 180 Washington St, providing a commercial setting with street-facing exposure. Its combination of office and apartment space supports a flexible mixed-use configuration within a compact two-story building.
Key Highlights
- 1,512‑square‑foot mixed‑use property
- Three executive offices on the main level
- Reception area and half bath included
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
$11,022
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
9.19%
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%
$220,440
$220.4K
Cap Rate 7%
$157,457
$157.5K
Cap Rate 9%
$122,467
$122.5K
Market Conditions
NOI Build-Up for 1,512 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
$19.6K $12.96/SF
− Vacancy
−$2.0K −$1.30/SF
EGI
$17.6K $11.66/SF
− OpEx
−$6.6K −$4.37/SF
NOI
$11.0K $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%
$220,440
Cap Rate 7%
$157,457
Cap Rate 9%
$122,467
Alternative Uses
Best Use
Office B
$206.8K
$181.0K – $241.3K
NOI $14,479 @ 7.0% cap · market cap 12.08%
Second Best
Apartment 5plus
$185.1K
$162.0K – $216.0K
NOI $12,959 @ 7.0% cap · market cap 10.81%
Theoretical Best
Office A
$281.8K
$246.5K – $328.7K
NOI $19,723 @ 7.0% cap · market cap 16.45%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
317
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Midwest region
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Two-level layout combines professional office space with a residential unit.
Where is this mixed-use property located?
The property is located at 180 Washington St Conneaut, OH.
What is the asking price?
The asking price for this property is $119,900.
What are key features of this property?
This property features: 1,512‑square‑foot mixed‑use property; Three executive offices on the main level; Reception area and half bath included
