Building Details

Year Built 1926

Listing Agency: M & M Realty Services Inc

Listed By: Debra Dickens · License #0000295413 Show Phone

Source: Thelorilynngroup

Added: Jul 13 Changed: Aug 29 Last Checked: Oct 7 at 1:19PM

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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 M & M Realty Services Inc

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Investment Insights

Based on property information with market context.

This 6,800-square-foot office building, constructed in 1976, features an open-span interior that can accommodate a range of commercial layouts. The property includes three-phase power and parking for customers and employees. The configuration is identified as suitable for medical operations, professional offices, retail showroom use, separate retail spaces, or a church, subject to applicable requirements.

The building benefits from visibility along a route carrying nearly 8,000 vehicles daily. Access is provided via a direct route from the Russell Bridge, serving customers and clients traveling from both Ohio and Kentucky.

Key Highlights

• 6,800‑square‑foot open‑span office building
• Three‑phase power installed
• Parking available for customers and employees

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$67,369

Cap Rate

8.47%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,347,380 $1.3M

Cap Rate 7%

$962,414 $962.4K

Cap Rate 9%

$748,544 $748.5K

Is this asking price fair?

Market Conditions

NOI Build-Up for 6,800 SF

Gross rent

$130.6K $19.20/SF

− Vacancy

−$18.3K −$2.69/SF

EGI

$112.3K $16.51/SF

− OpEx

−$44.9K −$6.60/SF

NOI

$67.4K $9.91/SF

Area

Lawrence County, OH

Vacancy

14.00%

Lease Rate

$19.20 /SF/Yr

Expense Ratio

40.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,347,380

Cap Rate 7%

$962,414

Cap Rate 9%

$748,544

Alternative Uses

Best Use

Healthcare Medical

$962.4K

$842.1K – $1.12M (±1% cap)

NOI $67,369 @ 7.0% cap · market cap 8.47%

Second Best

Office B

$930.2K

$814.0K – $1.09M (±1% cap)

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

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. How Realmo checks its estimates

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 - Three-phase power, parking, and high daily traffic exposure support a flexible commercial configuration.

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.

What are key features of this property?

This property features: 6,800‑square‑foot open‑span office building; Three‑phase power installed; Parking available for customers and employees