Renovated Commercial Space on
For Sale
$275,000
Pending
1943 Main St, Goshen, OH 45122
Turnkey 2,533 SF commercial space, ready for your business.
Property Size2,533 SF
Days on Market141
Property Features for 1943 Main St
General Information
Standard status
Pending
Size
2,533 SF
Listing Agency:
eXp Realty
(513) 477-1219
Listed By:
Gina A Dubell-Smith · License #0000423340
(513) 477-1219
Source:
Exprealty
Added: Apr 8
Changed: Aug 21
Last Checked: Aug 25 at 8:51AM
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
Investment Insights
Based on property information with market context.
This fully renovated 2,533 SF commercial space is designed as a clean slate. The property has been completely gutted and rebuilt, featuring a new metal roof, updated electrical, lighting, plumbing, and concrete. A new heat pump and hot water heater have also been installed. The front room measures 23x23 and includes new flooring and a half bath. The rear area is 54x37 and features fresh concrete floors, updated lighting, and approximately 7' garage door access. An additional finished 13x7 room includes rough-in plumbing, offering potential for a full bath, laundry, or workspace expansion. The property is located on Main St in Goshen, OH.
Key Highlights
- Fully renovated 2,533 SF commercial space - a turnkey foundation for your new business.
- New metal roof, updated electrical, lighting, plumbing, and concrete ensure a modern and reliable infrastructure.
- Spacious 54x37 rear area** with fresh concrete floors and approximately 7' garage door access.
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
$24,602
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
8.95%
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%
$492,040
$492.0K
Cap Rate 7%
$351,457
$351.5K
Cap Rate 9%
$273,356
$273.4K
Market Conditions
NOI Build-Up for 2,533 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
$38.0K $15.00/SF
− Vacancy
−$2.8K −$1.13/SF
EGI
$35.1K $13.88/SF
− OpEx
−$10.5K −$4.16/SF
NOI
$24.6K $9.71/SF
Area
Clermont County, OH
Vacancy
7.50%
Lease Rate
$15.00 /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%
$492,040
Cap Rate 7%
$351,457
Cap Rate 9%
$273,356
Alternative Uses
Best Use
Retail
$351.5K
$307.5K – $410.0K
NOI $24,602 @ 7.0% cap · market cap 8.95%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$454.1K
$397.4K – $529.8K
NOI $31,788 @ 7.0% cap · market cap 11.56%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
119
Businesses Nearby
45k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 51%
Shops & Services 49%
United Dairy Farmers
Shops & Services
17,300 visits/mo
0.4 miles
McDonald's
Dining
16,162 visits/mo
0.4 miles
Dollar General
Shops & Services
4,876 visits/mo
0.3 miles
Skyline Chili
Dining
3,402 visits/mo
0.4 miles
Domino's Pizza
Dining
3,212 visits/mo
0.4 miles
Demographics for 45122, OH
10,757
Population
4,603
Households
2.3
Avg Household Size
42
Median Age
14%
College-Educated
88%
High-School Grad
42.2 sq mi
ZIP Area
255
Density / Sq Mi
$85,750
Median Household Income
$43,797
Median Earnings
$1,186
Median Rent
$210,200
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - Turnkey 2,533 SF commercial space, ready for your business.
Where is this retail space located?
The property is located at 1943 Main St Goshen, OH.
What is the asking price?
The asking price for this property is $275,000.
What are key features of this property?
This property features: Fully renovated 2,533 SF commercial space - a turnkey foundation for your new business.; New metal roof, updated electrical, lighting, plumbing, and concrete ensure a modern and reliable infrastructure.; Spacious 54x37 rear area** with fresh concrete floors and approximately 7' garage door access.
