Historic District Short-Term
New
For Sale
$275,000
237 N Broadway, Medina, OH 44256
Short-term rental property at a historic-district address in Medina, Ohio.
Property Size1,293 SF
Price / SF$212.68
Days on Market2
Property Features for 237 N Broadway
General Information
Standard status
Active
Size
1,293 SF
Building Details
Year Built
1900
Tenancy
Multi
Listing Agency:
Keller Williams Elevate
Listed By:
Lori A Schwarz · License #448529
(330) 725-4408
Source:
Homesinneohio
Added: Sep 7
Last Checked: Sep 7 at 3:17PM
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 Keller Williams Elevate
Investment Insights
Based on property information with market context.
This short-term rental property is located at 237 N Broadway in Medina, Ohio. The property dates to 1900 and is situated within the Medina Historic District.
A separate retail plaza on North Court Street with 5 tenants is also available; details are available from the agent.
A separate retail plaza on North Court Street with 5 tenants is also available; details are available from the agent.
Key Highlights
- Located in the Medina Historic District
- 1900 construction date
- 237 N Broadway, Medina, OH 44256
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
$10,213
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
3.71%
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%
$204,260
$204.3K
Cap Rate 7%
$145,900
$145.9K
Cap Rate 9%
$113,478
$113.5K
Market Conditions
NOI Build-Up for 1,293 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
$19.9K $15.36/SF
− Vacancy
−$1.3K −$1.00/SF
EGI
$18.6K $14.36/SF
− OpEx
−$8.4K −$6.46/SF
NOI
$10.2K $7.90/SF
Area
Medina County, OH
Vacancy
6.50%
Lease Rate
$15.36 /SF/Yr
Expense Ratio
45.00%
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%
$204,260
Cap Rate 7%
$145,900
Cap Rate 9%
$113,478
Alternative Uses
Best Use
Apartment 5plus
$145.9K
$127.7K – $170.2K
NOI $10,213 @ 7.0% cap · market cap 3.71%
Second Best
Retail
$73.3K
$64.1K – $85.5K
NOI $5,131 @ 7.0% cap · market cap 1.87%
Theoretical Best
Specialty Retail
$360.7K
$315.6K – $420.8K
NOI $25,246 @ 7.0% cap · market cap 9.18%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,262
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
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Short term rental property - Short-term rental property at a historic-district address in Medina, Ohio.
Where is this short term rental property located?
The property is located at 237 N Broadway Medina, OH.
What is the asking price?
The asking price for this property is $275,000.
What are key features of this property?
This property features: Located in the Medina Historic District; 1900 construction date; 237 N Broadway, Medina, OH 44256
