Building Details

Year Built 1976

Listed By: Debby Dickens Show Phone

Added: Jul 8 Changed: Aug 14

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Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$65,117

Cap Rate

8.19%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,302,340 $1.3M

Cap Rate 7%

$930,243 $930.2K

Cap Rate 9%

$723,522 $723.5K

Market Conditions

NOI Build-Up for 6,800 SF

Gross rent

$108.5K $15.96/SF

− Vacancy

−$21.7K −$3.19/SF

EGI

$86.8K $12.77/SF

− OpEx

−$21.7K −$3.19/SF

NOI

$65.1K $9.58/SF

Area

Lawrence County, OH

Vacancy

20.00%

Lease Rate

$15.96 /SF/Yr

Expense Ratio

25.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,302,340

Cap Rate 7%

$930,243

Cap Rate 9%

$723,522

Alternative Uses

Best Use

Office B

$930.2K

$814.0K – $1.09M (±1% cap)

NOI $65,117 @ 7.0% cap · market cap 8.19%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$1.55M

$1.35M – $1.81M (±1% cap)

NOI $108,352 @ 7.0% cap · market cap 13.63%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Office buildings

Suggested Use

Top Pick HVAC Service Electrical Service (Bike/Boat/Book/etc) Store Bakery Real Estate Agency Hair Salon

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

720

Businesses Nearby

Explore this area Business Placement

Demographics for 45638, OH

20,114

Population

9,039

Households

2.2

Avg Household Size

43

Median Age

16%

College-Educated

90%

High-School Grad

76.9 sq mi

ZIP Area

262

Density / Sq Mi

$49,544

Median Household Income

$34,972

Median Earnings

$782

Median Rent

$118,500

Median Home Value

Market

Vacancy Rate% for Office in Midwest region

13.7% 2019

15.6% 2020

17.1% 2021

18.9% 2022

21% 2023

22% 2024

21.3% 2025

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Frequently Asked Questions

What type of property is this?

Office building - Professional building with open-span layout, three-phase power, ample parking, and visibility supported by nearly 8,000 daily vehicles.

Where is this office building located?

The property is located at 209 N 2Nd St Ironton, OH.

What is the asking price?

The asking price for this property is $795,000.