Storefront Property with Garage
For Sale
$475,000
22 E Gambier St, Mount Vernon, OH 43050
Corner commercial building with display windows on two street-facing elevations and separate upstairs access.
Property Size9,494 SF
Price / SF$50.03
Days on Market51
Property Features for 22 E Gambier St
General Information
Standard status
Active
Size
9,494 SF
Building Details
Year Built
1949
Listing Agency:
REAL ESTATE PRO'S
(740) 398-8089
Listed By:
Martha M Edelblute
Source:
Thelorilynngroup
Added: Jul 10
Changed: Aug 29
Last Checked: Aug 25 at 5:41AM
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 REAL ESTATE PRO'S
Investment Insights
Based on property information with market context.
This storefront property offers 9,494 Sq Ft of commercial space at a corner location, with large display windows oriented toward both Gambier St and Gay St. The rear portion measures 106 x 63 and includes two overhead garage doors, along with hanging heaters. One door measures 16x16, while the second is 16 ft wide x12 ft high.
An exterior entrance from Gambier St provides separate access to the upstairs area. The building has previously accommodated a florist, car dealership, and custom tailor shop, supporting a range of commercial configurations. Repairs and updating are needed, providing a clear scope for future improvements.
An exterior entrance from Gambier St provides separate access to the upstairs area. The building has previously accommodated a florist, car dealership, and custom tailor shop, supporting a range of commercial configurations. Repairs and updating are needed, providing a clear scope for future improvements.
Key Highlights
- 9,494 Sq Ft storefront building at the corner of Gambier St and Gay St
- Large display windows on both Gambier St and Gay St
- Rear area measures 106 x 63
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
$36,909
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
7.77%
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%
$738,180
$738.2K
Cap Rate 7%
$527,271
$527.3K
Cap Rate 9%
$410,100
$410.1K
Market Conditions
NOI Build-Up for 9,494 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
$54.7K $5.76/SF
− Vacancy
−$2.0K −$0.21/SF
EGI
$52.7K $5.55/SF
− OpEx
−$15.8K −$1.67/SF
NOI
$36.9K $3.89/SF
Area
Knox County, OH
Vacancy
3.58%
Lease Rate
$5.76 /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%
$738,180
Cap Rate 7%
$527,271
Cap Rate 9%
$410,100
Alternative Uses
Best Use
Retail
$527.3K
$461.4K – $615.2K
NOI $36,909 @ 7.0% cap · market cap 7.77%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$2.65M
$2.32M – $3.09M
NOI $185,371 @ 7.0% cap · market cap 39.03%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
986
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 43050, OH
29,594
Population
13,416
Households
2.2
Avg Household Size
42
Median Age
25%
College-Educated
93%
High-School Grad
154.1 sq mi
ZIP Area
192
Density / Sq Mi
$65,044
Median Household Income
$38,709
Median Earnings
$933
Median Rent
$199,000
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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Similar Off Market Nearby
- Flowers For You — 22 E Gambier St, Mt Vernon, OH 43050
- The Flower Basket — 101 Coshocton Ave, Mt Vernon, OH 43050
Frequently Asked Questions
What type of property is this?
Storefront property - Corner commercial building with display windows on two street-facing elevations and separate upstairs access.
Where is this storefront property located?
The property is located at 22 E Gambier St Mount Vernon, OH.
What is the asking price?
The asking price for this property is $475,000.
What are key features of this property?
This property features: 9,494 Sq Ft storefront building at the corner of Gambier St and Gay St; Large display windows on both Gambier St and Gay St; Rear area measures 106 x 63
