Building Details

Year Built 1900

Year Renovated 2024

Stories 2

Listing Agency: Coldwell Banker Realty Show Phone

Listed By: Julie Guy-Schrienk · License #2013002385

Source: Crexi

Added: Mar 20 Changed: Aug 8 Last Checked: Aug 8 at 3:21PM

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Investment Insights

Based on property information with market context.

This property features 2,240 square feet of retail space. It is suitable for retail use and is also categorized as multifamily and residential income property. The property is located on State Route 347 in Broadway, Ohio.

Key Highlights

• Retail Space available.
• 2,240 SF of space.
• Year Built: 1900.

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

$26,026

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

3.07%

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%

$520,520 $520.5K

Cap Rate 7%

$371,800 $371.8K

Cap Rate 9%

$289,178 $289.2K

Market Conditions

NOI Build-Up for 2,240 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

$48.9K $21.84/SF

− Vacancy

−$11.7K −$5.24/SF

EGI

$37.2K $16.60/SF

− OpEx

−$11.2K −$4.98/SF

NOI

$26.0K $11.62/SF

Area

Union County, OH

Vacancy

24.00%

Lease Rate

$21.84 /SF/Yr

Expense Ratio

30.00%

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%

$520,520

Cap Rate 7%

$371,800

Cap Rate 9%

$289,178

Alternative Uses

Best Use

Retail

$371.8K

$325.3K – $433.8K (±1% cap)

NOI $26,026 @ 7.0% cap · market cap 3.07%

Second Best

—

—

no second resolved use

Theoretical Best

Warehouse

$451.5K

$395.0K – $526.7K (±1% cap)

NOI $31,603 @ 7.0% cap · market cap 3.72%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Property Profile

Current Use

Retail space

Suggested Use

Top Pick Auto Parts Store Grocery & Convenience Store Restaurant Bar & Pub

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

13

Businesses Nearby

Explore this area Business Placement

Demographics for 43007, OH

88

Population

34

Households

2.6

Avg Household Size

53

Median Age

100%

High-School Grad

2.4 sq mi

ZIP Area

37

Density / Sq Mi

$177,900

Median Home Value

Market

Vacancy Rate% for Retail in Midwest region

8% 2020

7.3% 2021

6.5% 2022

6% 2023

5.7% 2024

6.3% 2025

Questions? Ask Rey

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What type of property is this? Where is this retail space 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?

Retail space - 2,240 SF retail space for sale.

Where is this retail space located?

The property is located at 18966 State Route 347 Broadway, OH.

What is the asking price?

The asking price for this property is $849,000.

What are key features of this property?

This property features: Retail Space available.; 2,240 SF of space.; Year Built: 1900.