Downtown Mount Vernon Office
206 S Mulberry Street #C Mount Vernon, OH 43050
206 S Mulberry Street #C, Mount Vernon, OH, 43050
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For Sale
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Professional office space in downtown Mount Vernon available for sale.
Property Size3,464 SF
Price / SF$138.54
Days on Market679
Property Features for 206 S Mulberry Street #C
General Information
- Standard status
- Active
- Size
- 3,464 SF
- Property subtype
- Mixed Use
Listing agency
Howard Hanna Real Estate Svcs
Listed by
Courtney Culbertson · License #2007000285
Source
Crexi
Added: Sep 11, 2024 Updated: Jul 10 at 11:19AM Checked: Jul 21 at 6:45AM
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 Howard Hanna Real Estate Svcs
Investment Insights
Based on property information with market context.
Located in downtown Mount Vernon, this professional office space offers an opportunity for ownership. The unit, identified as Suite C at 206 S. Mulberry St, encompasses 3,464 square feet and features two separate lobbies. The layout includes 14 rooms of a considerable size, with approximately half equipped with water access, sinks, and counter space. There are four bathrooms in total, two of which are handicap accessible. Additional amenities include several storage rooms, a laundry area with a mop sink, and a security system. A large paved parking lot provides ample parking. Suite C is part of a condo association for the entire building and is subject to a monthly association fee. The property is located on the corner of S. Mulberry St and Ohio Ave. Previous tenants were paying $5,000 a month in rent. The property was appraised in January for $560,000.
Key Highlights
- Appraised for $560,000 in January.
- 3,464 sq ft professional office space in downtown Mount Vernon.
- Potential rental income of $5,000 per month (previous tenants).
Local Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $71.1k | $20.52 |
| − Vacancy | −$18.1k | −$5.23 |
| EGI | $53.0k | $15.29 |
| − OpEx | −$13.2k | −$3.82 |
| NOI | $39.7k | $11.47 |
3,464 SF · lease $20.52/SF/yr · vacancy 25.50% · expense 25.00%
Alternative Uses
Best Use
Office B
$567.4K
$496.5K – $662.0K
NOI $39,717 @ 7.0% cap · market cap 8.28%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$966.2K
$845.4K – $1.13M
NOI $67,635 @ 7.0% cap · market cap 14.09%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Office Units
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FAQs
What type of property is this?
Office units - Professional office space in downtown Mount Vernon available for sale.
Where is this office units located?
The property is located at 206 S Mulberry Street #C Mount Vernon, OH.
What is the asking price?
The asking price for this property is $479,900.
What are key features of this property?
This property features: Appraised for $560,000 in January.; 3,464 sq ft professional office space in downtown Mount Vernon.; Potential rental income of $5,000 per month (previous tenants).
