Cosmetically Updated Office
For Sale
Contact for pricing
209 S Broadway St, Medina, OH 44256
Updated 1,664 SF office building with five private offices, restrooms, kitchenette, and basement/attic storage plus 10 parking spaces.
Property Size1,664 SF
Lot Size0.15 Acres
Price / SF$261.42
Days on Market51
Property Features for 209 S Broadway St
General Information
Standard status
Active
Size
1,664 SF
Total Parking Spaces
10
Lot size
0.15 Acres
Property subtype
OFFICE
Zoning
C-2
Additional Details
Office Units
5
Amenities
5 Private Offices
2 Restrooms
Kitchenette
Basement/Attic Storage
Great Signage on Monument Board
Visibility Off the Square
Building Details
Year Built
1856
Listing Agency:
Gerspacher Real Estate Group
(330) 722-5002
Listed By:
Sam Tecca
(330) 634-5289
Source:
Moodyscre
Added: Jul 24
Changed: Sep 10
Last Checked: Sep 11 at 5:19AM
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 Gerspacher Real Estate Group
Investment Insights
Based on property information with market context.
This cosmetically updated office building was built in 1856 and totals 1,664 SF. The interior layout includes five private offices, two restrooms, a kitchenette, and basement/attic storage. The property has been updated throughout, with a new roof installed.
The building offers signage on a monument board and is described as having visibility off the square. It is located one block from historical Medina Square, across from Medina County District Library.
The site includes parking for 10 spaces. The property is zoned C-2 Central Business District.
The building offers signage on a monument board and is described as having visibility off the square. It is located one block from historical Medina Square, across from Medina County District Library.
The site includes parking for 10 spaces. The property is zoned C-2 Central Business District.
Key Highlights
- 1,664 SF office building built in 1856, on 0.1475 AC
- Updated layout with 5 private offices, 2 restrooms, kitchenette, plus basement/attic storage
- Cosmetically updated throughout with a new roof
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
$20,400
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
4.69%
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%
$408,000
$408.0K
Cap Rate 7%
$291,429
$291.4K
Cap Rate 9%
$226,667
$226.7K
Market Conditions
NOI Build-Up for 1,664 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
$35.7K $21.48/SF
− Vacancy
−$8.5K −$5.13/SF
EGI
$27.2K $16.35/SF
− OpEx
−$6.8K −$4.09/SF
NOI
$20.4K $12.26/SF
Area
Medina County, OH
Vacancy
23.90%
Lease Rate
$21.48 /SF/Yr
Expense Ratio
25.00%
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%
$408,000
Cap Rate 7%
$291,429
Cap Rate 9%
$226,667
Alternative Uses
Best Use
Office B
$291.4K
$255.0K – $340.0K
NOI $20,400 @ 7.0% cap · market cap 4.69%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$464.1K
$406.1K – $541.5K
NOI $32,490 @ 7.0% cap · market cap 7.47%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
5
Office units
Location Intelligence
Trade Area within ½ mile
1,192
Businesses Nearby
Explore this area
Business Placement
Demographics for 44256, OH
64,815
Population
26,740
Households
2.4
Avg Household Size
43
Median Age
42%
College-Educated
96%
High-School Grad
130.8 sq mi
ZIP Area
496
Density / Sq Mi
$100,345
Median Household Income
$55,180
Median Earnings
$1,120
Median Rent
$292,000
Median Home Value
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Market
Vacancy Rate% for Office in Midwest region
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Frequently Asked Questions
What type of property is this?
Office building - Updated 1,664 SF office building with five private offices, restrooms, kitchenette, and basement/attic storage plus 10 parking spaces.
Where is this office building located?
The property is located at 209 S Broadway St Medina, OH.
What is the asking price?
The asking price for this property is $435,000.
What are key features of this property?
This property features: 1,664 SF office building built in 1856, on 0.1475 AC; Updated layout with 5 private offices, 2 restrooms, kitchenette, plus basement/attic storage; Cosmetically updated throughout with a new roof
