Building Details

Year Built 1947

Stories 2

Tenancy Multi

Listing Agency: eXp Commercial - OH Show Phone

Listed By: Julie Castner · License ##SAL.2023005555 Show Phone

Source: Moodyscre

Added: Apr 1 Changed: Sep 4 Last Checked: Sep 11 at 1:02PM

Report an Issue

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 eXp Commercial - OH

Investment Insights

Based on property information with market context.

This 3,688 SF multi-unit mixed-use building includes four unique units. On the first floor, there are two commercial spaces, with the first featuring a reception area and three private offices, and the second including a private office and an open area. The second floor contains two residential units: a one-bedroom apartment and a two-bedroom apartment. Both residential units have been recently remodeled and are ready for renters.

The property is zoned R1. It offers a combined commercial and residential configuration that may appeal to investors seeking income-producing space within a single building.

Key Highlights

• 4‑unit multi‑unit building with 3,688 SF total at 30 Cecil St NE, Navarre
• 1st floor has 2 commercial spaces, including a reception area and a private office in one unit
• 2nd floor includes 2 residential units: one 1‑bedroom and one 2‑bedroom apartment

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

$12,346

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

4.33%

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%

$246,920 $246.9K

Cap Rate 7%

$176,371 $176.4K

Cap Rate 9%

$137,178 $137.2K

Market Conditions

NOI Build-Up for 3,688 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

$21.6K $5.86/SF

− Vacancy

−$1.9K −$0.50/SF

EGI

$19.8K $5.36/SF

− OpEx

−$7.4K −$2.01/SF

NOI

$12.3K $3.35/SF

Area

Stark County, OH

Vacancy

8.60%

Lease Rate

$5.86 /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%

$246,920

Cap Rate 7%

$176,371

Cap Rate 9%

$137,178

Alternative Uses

Best Use

Office B

$636.6K

$557.0K – $742.7K (±1% cap)

NOI $44,560 @ 7.0% cap · market cap 15.64%

Second Best

Multifamily LT 5

$440.7K

$385.6K – $514.2K (±1% cap)

NOI $30,849 @ 7.0% cap · market cap 10.82%

Theoretical Best

Retail

$962.9K

$842.5K – $1.12M (±1% cap)

NOI $67,403 @ 7.0% cap · market cap 23.65%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Unlock full access to Insights Subscribe to Realmo Intelligence

Open Analytics

Current Use

Duplexes

Suggested Use

Top Pick Dental Office Real Estate Agency HVAC Service Auto Repair Shop (Bike/Boat/Book/etc) Store Furniture & Home Goods

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

2

Office units

2

Residential units

Multi-tenant

Tenancy

Location Intelligence

Trade Area within ½ mile

166

Businesses Nearby

Explore this area Business Placement

Demographics for 44662, OH

9,562

Population

4,069

Households

2.3

Avg Household Size

46

Median Age

18%

College-Educated

89%

High-School Grad

57.7 sq mi

ZIP Area

166

Density / Sq Mi

$69,387

Median Household Income

$42,007

Median Earnings

$828

Median Rent

$175,600

Median Home Value

Market

Vacancy Rate% for Office in Midwest region

13.7% 2019

15.6% 2020

17.1% 2021

18.9% 2022

21% 2023

22% 2024

21.3% 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 - A four-unit building with first-floor commercial spaces and two residential apartments on the second floor.

Where is this mixed-use property located?

The property is located at 24 Cecil St NE Navarre, OH.

What is the asking price?

The asking price for this property is $285,000.

What are key features of this property?

This property features: 4‑unit multi‑unit building with 3,688 SF total at 30 Cecil St NE, Navarre; 1st floor has 2 commercial spaces, including a reception area and a private office in one unit; 2nd floor includes 2 residential units: one 1‑bedroom and one 2‑bedroom apartment