Multi-Building Auto Shop
New
For Sale
$597,500
204 S Broadway St, Blanchester, OH 45107
Three-building commercial property includes repair space, retail area, parking, and a separately accessed garage.
Property Size7,409 SF
Price / SF$80.65
Days on Market6
Property Features for 204 S Broadway St
General Information
Standard status
Active
Size
7,409 SF
Building Details
Year Built
1947
Listing Agency:
Falgner Realty LLC
(937) 783-4040
Listed By:
Anthony Falgner · License #2014004721
Source:
Lovdalgroup
Added: Aug 25
Changed: Aug 30
Last Checked: Aug 26 at 8:13AM
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 Falgner Realty LLC
Investment Insights
Based on property information with market context.
This auto shop property comprises three separate commercial buildings totaling 7,409 SF. The corner structure, formerly used as a car dealership, is partially leased to a car repair tenant. Its available portion includes new HVAC and updated electrical service. A second building offers nearly 2,400 square feet of retail space with chain-link fencing, a large parking lot, and a dedicated paint room. The third structure is a small garage with its own private entrance and is currently rented.
The property occupies a downtown corner at S Broadway Street, St Rt 123, and St Rt 133 in Blanchester, Ohio. Its position along two state highways provides direct exposure to passing traffic and convenient access for automotive and commercial operations.
The property occupies a downtown corner at S Broadway Street, St Rt 123, and St Rt 133 in Blanchester, Ohio. Its position along two state highways provides direct exposure to passing traffic and convenient access for automotive and commercial operations.
Key Highlights
- Three separate commercial buildings totaling 7,409 SF
- Corner location at St Rt 123 and St Rt 133 in downtown Blanchester
- Corner building partially leased to a car repair tenant
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
$30,445
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
5.10%
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%
$608,900
$608.9K
Cap Rate 7%
$434,929
$434.9K
Cap Rate 9%
$338,278
$338.3K
Market Conditions
NOI Build-Up for 7,409 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
$47.5K $6.41/SF
− Vacancy
−$4.0K −$0.54/SF
EGI
$43.5K $5.87/SF
− OpEx
−$13.0K −$1.76/SF
NOI
$30.4K $4.11/SF
Area
Clinton County, OH
Vacancy
8.42%
Lease Rate
$6.41 /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%
$608,900
Cap Rate 7%
$434,929
Cap Rate 9%
$338,278
Alternative Uses
Best Use
Retail
$1.93M
$1.69M – $2.25M
NOI $135,017 @ 7.0% cap · market cap 22.60%
Second Best
Industrial
$434.9K
$380.6K – $507.4K
NOI $30,445 @ 7.0% cap · market cap 5.10%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
280
Businesses Nearby
53k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 55%
Dining 45%
United Dairy Farmers
Shops & Services
18,462 visits/mo
0.1 miles
McDonald's
Dining
17,019 visits/mo
0.2 miles
Taco Bell
Dining
4,404 visits/mo
0.2 miles
Family Dollar
Shops & Services
3,918 visits/mo
0.4 miles
AutoZone
Shops & Services
2,261 visits/mo
0.3 miles
Demographics for 45107, OH
9,806
Population
3,656
Households
2.7
Avg Household Size
41
Median Age
12%
College-Educated
89%
High-School Grad
80.6 sq mi
ZIP Area
122
Density / Sq Mi
$65,625
Median Household Income
$33,915
Median Earnings
$918
Median Rent
$196,300
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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Similar Off Market Nearby
- JaM Small Engine Repair LLC — 5474 Oak Grove Ave, Blanchester, OH 45107
- Mockabee Motors — 104 Cherry St, Blanchester, OH 45107
- Krimmer Auto Body Towing — Blanchester, OH 45107
- Bill Martin's Auto — 204 S Broadway St, Blanchester, OH 45107
- ACH Diesel, LLC — 700 Cherry St, Blanchester, OH 45107
Frequently Asked Questions
What type of property is this?
Auto shop - Three-building commercial property includes repair space, retail area, parking, and a separately accessed garage.
Where is this auto shop located?
The property is located at 204 S Broadway St Blanchester, OH.
What is the asking price?
The asking price for this property is $597,500.
What are key features of this property?
This property features: Three separate commercial buildings totaling 7,409 SF; Corner location at St Rt 123 and St Rt 133 in downtown Blanchester; Corner building partially leased to a car repair tenant
