Building Details

Building Size 1,328 SF

Year Built 1999

Buildings 2

Listing Agency: Fathom Realty Ohio

Listed By: Zachariah W Yoder Show Phone

Source: Camtaylor

Added: Sep 14 Changed: Sep 19 Last Checked: Sep 20 at 10:05AM

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Investment Insights

Based on property information with market context.

This mixed-use property includes approximately 560 square feet of storefront and office space along Main Street, with an attached garage and storage area. A separate 24-by-32-foot garage adds loft storage and provides additional enclosed utility. The improvements were built in 1999 and have supported commercial and garage-related uses, including the former Raymond Mercantile operation.

The property occupies a corner at the intersection of State Route 347 and State Route 739 in Raymond. Its Main Street frontage places the storefront at a visible village intersection near the post office, while the separate garage expands the available storage and work area beyond the front building.

Key Highlights

• Approximately 560 square feet of storefront and office space
• Separate 24‑by‑32‑foot garage with loft storage
• Attached garage and storage area connected to the front building

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

$5,638

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

3.76%

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%

$112,760 $112.8K

Cap Rate 7%

$80,543 $80.5K

Cap Rate 9%

$62,644 $62.6K

Market Conditions

NOI Build-Up for 1,328 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

$8.6K $6.48/SF

− Vacancy

−$551 −$0.41/SF

EGI

$8.1K $6.07/SF

− OpEx

−$2.4K −$1.82/SF

NOI

$5.6K $4.25/SF

Area

Butler County, OH

Vacancy

6.40%

Lease Rate

$6.48 /SF/Yr

Expense Ratio

30.00%

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%

$112,760

Cap Rate 7%

$80,543

Cap Rate 9%

$62,644

Alternative Uses

Best Use

Retail

$80.5K

$70.5K – $94.0K (±1% cap)

NOI $5,638 @ 7.0% cap · market cap 3.76%

Second Best

Mixed Use

$63.7K

$55.8K – $74.4K (±1% cap)

NOI $4,461 @ 7.0% cap · market cap 2.97%

Theoretical Best

Office A

$262.6K

$229.8K – $306.3K (±1% cap)

NOI $18,380 @ 7.0% cap · market cap 12.25%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Current Use

Storefront properties

Suggested Use

Top Pick Kitchen & Bath Showroom Grocery & Convenience Store Department Store

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

1

Businesses Nearby

Explore this area Business Placement

Demographics for 43067, OH

1,410

Population

596

Households

2.4

Avg Household Size

43

Median Age

17%

College-Educated

88%

High-School Grad

32.8 sq mi

ZIP Area

43

Density / Sq Mi

$93,083

Median Household Income

$38,393

Median Earnings

$1,300

Median Rent

$271,400

Median Home Value

Market

Vacancy Rate% for Retail in Midwest region

8% 2020

7.3% 2021

6.5% 2022

6% 2023

5.7% 2024

6.3% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this mixed-use properties located? What is the asking price? Find similar properties What are key features of this property?

Frequently Asked Questions

What type of property is this?

Mixed-use property - Corner-lot commercial setting combines storefront/office space with attached and detached storage improvements.

Where is this mixed-use property located?

The property is located at 21640 Main Street Raymond, OH.

What is the asking price?

The asking price for this property is $150,000.

What are key features of this property?

This property features: Approximately 560 square feet of storefront and office space; Separate 24‑by‑32‑foot garage with loft storage; Attached garage and storage area connected to the front building