56-Unit Garden-Style Apartment
New
For Sale
$3,833,759
1917-2011 Sweetbriar Ln, Springfield, OH 45505
Garden-style residential community with an established unit count and in-place income.
Property Size58,538 SF
Days on Market3
Property Features for 1917-2011 Sweetbriar Ln
General Information
Standard status
Active
Size
58,538 SF
Property subtype
Multifamily
Building Details
Building Size
58,538 SF
Year Built
1952
Stories
1
Units
56
Listing Agency:
(937) 360-9952
Listed By:
Patrick Williams · License #2020005690
(937) 360-9952
Source:
Cbcworldwide
Added: Aug 20
Changed: Aug 21
Last Checked: Aug 22 at 3:38AM
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 Patrick Williams
Investment Insights
Based on property information with market context.
Sweetbriar Lane is a garden-style apartment community comprising 56 units. The property was built in 1952 and is located in Springfield, Ohio, along Sweetbriar Lane.
The community is offered as an income-producing multifamily asset with in-place income and a stated 7.50% capitalization rate. Its established unit count and garden-style configuration define the property’s operating profile.
The community is offered as an income-producing multifamily asset with in-place income and a stated 7.50% capitalization rate. Its established unit count and garden-style configuration define the property’s operating profile.
Key Highlights
- 56‑unit garden‑style apartment community
- Built in 1952
- In‑place income
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
$172,148
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
4.49%
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%
$3,442,960
$3.4M
Cap Rate 7%
$2,459,257
$2.5M
Cap Rate 9%
$1,912,756
$1.9M
Market Conditions
NOI Build-Up for 58,538 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
$342.4K $5.85/SF
− Vacancy
−$29.5K −$0.50/SF
EGI
$313.0K $5.35/SF
− OpEx
−$140.8K −$2.41/SF
NOI
$172.1K $2.94/SF
Area
Clark County, OH
Vacancy
8.60%
Lease Rate
$5.85 /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%
$3,442,960
Cap Rate 7%
$2,459,257
Cap Rate 9%
$1,912,756
Alternative Uses
Best Use
Apartment 5plus
$2.46M
$2.15M – $2.87M
NOI $172,148 @ 7.0% cap · market cap 4.49%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$16.33M
$14.29M – $19.05M
NOI $1,142,957 @ 7.0% cap · market cap 29.81%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
140
Businesses Nearby
Explore this area
Business Placement
Demographics for 45505, OH
19,708
Population
9,365
Households
2.1
Avg Household Size
38
Median Age
10%
College-Educated
84%
High-School Grad
13.6 sq mi
ZIP Area
1,449
Density / Sq Mi
$42,409
Median Household Income
$30,322
Median Earnings
$802
Median Rent
$87,500
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Garden-style residential community with an established unit count and in-place income.
Where is this apartment building located?
The property is located at 1917-2011 Sweetbriar Ln Springfield, OH.
What is the asking price?
The asking price for this property is $3,833,759.
What are key features of this property?
This property features: 56‑unit garden‑style apartment community; Built in 1952; In‑place income
