Six-Unit Apartment Building with New
For Sale
$529,000
1836 Belle Terre Ave, Niles, OH 44446
Well-maintained six-unit building with updated roof (installed 2023), brick exterior, and ample parking in Niles.
Property Size5,568 SF
Price / SF$95.01
Days on Market56
Property Features for 1836 Belle Terre Ave
General Information
Standard status
Active
Size
5,568 SF
Units
Unit Mix
5 x 2BR/1BA, 1 x 1BR/1BA
Multifamily Units
6
Building Details
Year Built
1965
Buildings
1
Construction
brick
Listing Agency:
Century 21 Lakeside Realty
Listed By:
Amanda Tharp · License #2024000483
(330) 831-2540
Source:
Theacclaimedrealty
Added: Jul 30
Changed: Sep 10
Last Checked: Sep 22 at 9:00PM
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 Century 21 Lakeside Realty
Investment Insights
Based on property information with market context.
This well-maintained six-unit apartment building offers six units with a straightforward unit mix. Five units feature two bedrooms and one full bath, and the sixth unit offers one bedroom and one bathroom. The exterior is brick, and the property includes ample parking for residents.
Improvements over time include a new roof installed in 2023. A comprehensive list of updates, improvements, and maintenance records is available upon request.
Located in Niles, the building is positioned for rental use as a multifamily investment, with a configuration that can support both two-bedroom and one-bedroom tenant needs.
Improvements over time include a new roof installed in 2023. A comprehensive list of updates, improvements, and maintenance records is available upon request.
Located in Niles, the building is positioned for rental use as a multifamily investment, with a configuration that can support both two-bedroom and one-bedroom tenant needs.
Key Highlights
- Six‑unit apartment building in Niles
- Five units with two bedrooms and one full bath
- One unit with one bedroom and one bathroom
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
$42,579
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
8.05%
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%
$851,580
$851.6K
Cap Rate 7%
$608,271
$608.3K
Cap Rate 9%
$473,100
$473.1K
Market Conditions
NOI Build-Up for 5,568 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
$82.2K $14.76/SF
− Vacancy
−$4.8K −$0.86/SF
EGI
$77.4K $13.90/SF
− OpEx
−$34.8K −$6.26/SF
NOI
$42.6K $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%
$851,580
Cap Rate 7%
$608,271
Cap Rate 9%
$473,100
Alternative Uses
Best Use
Apartment 5plus
$608.3K
$532.2K – $709.7K
NOI $42,579 @ 7.0% cap · market cap 8.05%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.06M
$924.7K – $1.23M
NOI $73,979 @ 7.0% cap · market cap 13.98%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
6
Residential units
Location Intelligence
Trade Area within ½ mile
205
Businesses Nearby
Explore this area
Business Placement
Demographics for 44446, OH
20,173
Population
10,476
Households
1.9
Avg Household Size
44
Median Age
21%
College-Educated
92%
High-School Grad
14.0 sq mi
ZIP Area
1,441
Density / Sq Mi
$49,779
Median Household Income
$35,596
Median Earnings
$786
Median Rent
$108,800
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Midwest region
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Frequently Asked Questions
What type of property is this?
Apartment building - Well-maintained six-unit building with updated roof (installed 2023), brick exterior, and ample parking in Niles.
Where is this apartment building located?
The property is located at 1836 Belle Terre Ave Niles, OH.
What is the asking price?
The asking price for this property is $529,000.
What are key features of this property?
This property features: Six‑unit apartment building in Niles; Five units with two bedrooms and one full bath; One unit with one bedroom and one bathroom
