Mixed-Use Income
24 Cecil St NE Navarre, OH 44662
For Sale
Contact for pricing
A four-unit building with first-floor commercial spaces and two residential apartments on the second floor.
Property Size3,688 SF
Price / SF$77.28
Days on Market120
Property Features for 24 Cecil St NE
General Information
Standard status
Active
Size
3,688 SF
Property subtype
OFFICE
Listing Agency:
eXp Commercial - OH
(330) 608-9714
Listed By:
Julie Castner · License #SAL.2023005555
Source:
Moodyscre
Added: Apr 1
Changed: Jul 26
Last Checked: Jul 28 at 4:08PM
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.
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 For Mixed Use
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $21.6k | $5.86 |
| − Vacancy | −$1.9k | −$0.50 |
| EGI | $19.8k | $5.36 |
| − OpEx | −$7.4k | −$2.01 |
| NOI | $12.3k | $3.35 |
3,688 SF · lease $5.86/SF/yr · vacancy 8.60% · expense 37.50%
Alternative Uses
Best Use
Office B
$636.6K
$557.0K – $742.7K
NOI $44,560 @ 7.0% cap · market cap 15.64%
Second Best
Multifamily LT 5
$440.7K
$385.6K – $514.2K
NOI $30,849 @ 7.0% cap · market cap 10.82%
Theoretical Best
Retail
$962.9K
$842.5K – $1.12M
NOI $67,403 @ 7.0% cap · market cap 23.65%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Location Intelligence
Current Use
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
