Mixed-Use Building with Rear
New
For Sale
$375,000
185 Main St, Wadsworth, OH 44281
Two commercial spaces and a two-bedroom apartment are currently leased.
Property Size2,480 SF
Price / SF$151.21
Days on Market4
Property Features for 185 Main St
General Information
Standard status
Active
Size
2,480 SF
Occupancy
100%
Units
Unit Mix
1 x 2BR
Multifamily Units
1
Building Details
Year Built
1910
Listing Agency:
EXP Realty, LLC.
Listed By:
Zachery S Rollins · License #2013004259
(330) 591-1289
Source:
Kmlkrealty
Added: Sep 29
Last Checked: Oct 1 at 3:46PM
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 EXP Realty, LLC.
Investment Insights
Based on property information with market context.
Built in 1910, this mixed-use property has two commercial units on the ground floor and a two-bedroom apartment above. Each of the three spaces is currently rented. Improvements include a furnace installed in 2020, air conditioning added in 2025, and a comprehensive interior cosmetic update. A parking lot behind the building serves the property.
The property is on Main Street in downtown Wadsworth, near the Celestial Theater and within walking distance of First Friday events. Its combination of commercial and residential space brings three occupied units together in one building.
The property is on Main Street in downtown Wadsworth, near the Celestial Theater and within walking distance of First Friday events. Its combination of commercial and residential space brings three occupied units together in one building.
Key Highlights
- Two commercial units on the main level
- Upstairs apartment has two bedrooms
- All three units are currently rented
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
$22,549
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
6.01%
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%
$450,980
$451.0K
Cap Rate 7%
$322,129
$322.1K
Cap Rate 9%
$250,544
$250.5K
Market Conditions
NOI Build-Up for 2,480 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
$40.2K $16.20/SF
− Vacancy
−$4.1K −$1.65/SF
EGI
$36.1K $14.55/SF
− OpEx
−$13.5K −$5.46/SF
NOI
$22.5K $9.09/SF
Area
Medina County, OH
Vacancy
10.20%
Lease Rate
$16.20 /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%
$450,980
Cap Rate 7%
$322,129
Cap Rate 9%
$250,544
Alternative Uses
Best Use
Mixed Use
$322.1K
$281.9K – $375.8K
NOI $22,549 @ 7.0% cap · market cap 6.01%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$691.7K
$605.3K – $807.0K
NOI $48,422 @ 7.0% cap · market cap 12.91%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
1
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
577
Businesses Nearby
Explore this area
Business Placement
Demographics for 44281, OH
33,241
Population
14,298
Households
2.3
Avg Household Size
41
Median Age
42%
College-Educated
96%
High-School Grad
47.8 sq mi
ZIP Area
695
Density / Sq Mi
$88,128
Median Household Income
$46,653
Median Earnings
$1,031
Median Rent
$262,200
Median Home Value
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Two commercial spaces and a two-bedroom apartment are currently leased.
Where is this mixed-use property located?
The property is located at 185 Main St Wadsworth, OH.
What is the asking price?
The asking price for this property is $375,000.
What are key features of this property?
This property features: Two commercial units on the main level; Upstairs apartment has two bedrooms; All three units are currently rented
