Building Details

Year Built 1900

Stories 2

Tenancy Multi

Listing Agency: Realistar e***@columbusproperties4sale.com Show Phone

Listed By: Emily Stephen · License #Ohio 2020005787

Source: Crexi

Added: May 14, 2025 Changed: Aug 16 Last Checked: Aug 15 at 9:50AM

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Investment Insights

Based on property information with market context.

Located in Howard, Ohio, this mixed-use building offers an investment opportunity. The building has a total area of 3,600 square feet. The ground floor is currently leased to the U.S. Post Office, with the lease extending through November 30, 2027. The upper level features a four-bedroom apartment, occupied by a tenant on a month-to-month basis. The property is fully occupied and generates an annual revenue of $30,500.

Key Highlights

• Anchored by U.S. Post Office with lease through November 30, 2027, providing stable income.
• Fully occupied mixed‑use building generating $30,500 annual revenue.
• Located in Howard, Ohio.

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

$13,208

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

5.39%

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%

$264,160 $264.2K

Cap Rate 7%

$188,686 $188.7K

Cap Rate 9%

$146,756 $146.8K

Market Conditions

NOI Build-Up for 3,600 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

$23.1K $6.41/SF

− Vacancy

−$1.9K −$0.54/SF

EGI

$21.1K $5.87/SF

− OpEx

−$7.9K −$2.20/SF

NOI

$13.2K $3.67/SF

Area

Knox County, OH

Vacancy

8.42%

Lease Rate

$6.41 /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%

$264,160

Cap Rate 7%

$188,686

Cap Rate 9%

$146,756

Alternative Uses

Best Use

Mixed Use

$188.7K

$165.1K – $220.1K (±1% cap)

NOI $13,208 @ 7.0% cap · market cap 5.39%

Second Best

—

—

no second resolved use

Theoretical Best

Specialty Retail

$1.00M

$878.6K – $1.17M (±1% cap)

NOI $70,290 @ 7.0% cap · market cap 28.69%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Property Profile

Current Use

United States Postal ... Post Office

Suggested Use

Top Pick Plumbing Service Kitchen & Bath Showroom (Bike/Boat/Book/etc) Store Grocery & Convenience Store Food Market Real Estate Agency

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

49

Businesses Nearby

Explore this area Business Placement

Demographics for 43028, OH

7,781

Population

3,697

Households

2.1

Avg Household Size

44

Median Age

28%

College-Educated

94%

High-School Grad

50.7 sq mi

ZIP Area

153

Density / Sq Mi

$89,543

Median Household Income

$52,003

Median Earnings

$1,090

Median Rent

$241,300

Median Home Value

Questions? Ask Rey

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Frequently Asked Questions

What type of property is this?

Mixed-use property - 3,600 SF mixed-use building in Howard, Ohio for sale.

Where is this mixed-use property located?

The property is located at 23359 Coshocton Rd Howard, OH.

What is the asking price?

The asking price for this property is $245,000.

What are key features of this property?

This property features: Anchored by U.S. Post Office with lease through November 30, 2027, providing stable income.; Fully occupied mixed‑use building generating $30,500 annual revenue.; Located in Howard, Ohio.