Mixed-Use Property with Two Income
For Sale
$259,900
Pending
212 WEST FRONT ST, Findlay, OH 45840
The building combines an operating boutique with a furnished short-term rental unit.
Property Size1,998 SF
Days on Market175
Property Features for 212 WEST FRONT ST
General Information
Standard status
Pending
Size
1,998 SF
Property subtype
General Commercial
Additional Details
Business Included
Yes
Taxes and HOA fees
Annual Taxes
$1,055
Amenities
Central Air
3
Sidewalks. End Unit.
Building Details
Year Built
1870
Buildings
1
Tenancy
Multi
Listing Agency:
Key Realty
(419) 957-3895
Listed By:
Findlay
(419) 957-3895
Source:
Xome
Added: Mar 8
Changed: Aug 30
Last Checked: Aug 30 at 1:32PM
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 Key Realty
Investment Insights
Based on property information with market context.
Located at 212 West Front Street in downtown Findlay, this 1,998-square-foot mixed-use property contains two operating components. The street-level space is occupied by an established high-end boutique, while the upper level is furnished and operating as an Airbnb short-term rental. Together, the units provide distinct commercial and hospitality uses within one building.
Built in 1870, the end-unit property includes central air and sidewalks along the frontage. The store tenant's lease runs through July 2026, with an expressed desire to continue leasing. Its downtown Findlay setting places the property within the area's dining, retail, and entertainment activity.
Built in 1870, the end-unit property includes central air and sidewalks along the frontage. The store tenant's lease runs through July 2026, with an expressed desire to continue leasing. Its downtown Findlay setting places the property within the area's dining, retail, and entertainment activity.
Key Highlights
- 1,998‑square‑foot mixed‑use property in downtown Findlay
- Street‑level unit occupied by an established high‑end boutique
- Upper‑level furnished Airbnb unit operating as a short‑term rental
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
$23,309
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
8.97%
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%
$466,180
$466.2K
Cap Rate 7%
$332,986
$333.0K
Cap Rate 9%
$258,989
$259.0K
Market Conditions
NOI Build-Up for 1,998 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
$40.9K $20.46/SF
− Vacancy
−$3.6K −$1.79/SF
EGI
$37.3K $18.67/SF
− OpEx
−$14.0K −$7.00/SF
NOI
$23.3K $11.67/SF
Area
Hancock County, OH
Vacancy
8.77%
Lease Rate
$20.46 /SF/Yr
Expense Ratio
37.50%
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%
$466,180
Cap Rate 7%
$332,986
Cap Rate 9%
$258,989
Alternative Uses
Best Use
Mixed Use
$333.0K
$291.4K – $388.5K
NOI $23,309 @ 7.0% cap · market cap 8.97%
Second Best
Apartment 5plus
$261.7K
$229.0K – $305.3K
NOI $18,318 @ 7.0% cap · market cap 7.05%
Theoretical Best
Specialty Retail
$557.3K
$487.6K – $650.2K
NOI $39,011 @ 7.0% cap · market cap 15.01%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
1,293
Businesses Nearby
Explore this area
Business Placement
Demographics for 45840, OH
54,901
Population
25,396
Households
2.2
Avg Household Size
40
Median Age
33%
College-Educated
95%
High-School Grad
166.5 sq mi
ZIP Area
330
Density / Sq Mi
$64,076
Median Household Income
$42,546
Median Earnings
$934
Median Rent
$203,800
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - The building combines an operating boutique with a furnished short-term rental unit.
Where is this mixed-use property located?
The property is located at 212 WEST FRONT ST Findlay, OH.
What is the asking price?
The asking price for this property is $259,900.
What are key features of this property?
This property features: 1,998‑square‑foot mixed‑use property in downtown Findlay; Street‑level unit occupied by an established high‑end boutique; Upper‑level furnished Airbnb unit operating as a short‑term rental
