Building Details

Year Built 1951

Listing Agency: BARTLETT BENNER REALTY n***@gmail.com Show Phone

Listed By: Nicholas Bartlett · License #2016002097

Source: Crexi

Added: Mar 22 Changed: Aug 8 Last Checked: Jul 31 at 4:00PM

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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 BARTLETT BENNER REALTY

Investment Insights

Based on property information with market context.

Located in downtown Lithopolis along the main corridor, this commercial property offers high visibility. Previously an auto mechanic and repair shop, the site is suitable for continued automotive use or redevelopment into retail, service, or mixed-use concepts. The property is situated on approximately 1.35 acres and features over 9,000 square feet of space across multiple structures. The expansive lot allows for ample parking, outdoor storage, or future expansion. The property offers the size, location, and exposure to support a wide range of opportunities.

Key Highlights

• High‑visibility location on the main corridor in downtown Lithopolis
• Large 1.35‑acre lot suitable for ample parking, outdoor storage, or future expansion
• Over 9,000 +/- square feet of space across multiple structures, offering flexibility

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

$36,963

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

6.16%

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%

$739,260 $739.3K

Cap Rate 7%

$528,043 $528.0K

Cap Rate 9%

$410,700 $410.7K

Market Conditions

NOI Build-Up for 9,608 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

$54.8K $5.70/SF

− Vacancy

−$2.0K −$0.20/SF

EGI

$52.8K $5.50/SF

− OpEx

−$15.8K −$1.65/SF

NOI

$37.0K $3.85/SF

Area

Fairfield County, OH

Vacancy

3.58%

Lease Rate

$5.70 /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%

$739,260

Cap Rate 7%

$528,043

Cap Rate 9%

$410,700

Alternative Uses

Best Use

Industrial

$1.59M

$1.40M – $1.86M (±1% cap)

NOI $111,634 @ 7.0% cap · market cap 18.61%

Second Best

Retail

$528.0K

$462.0K – $616.1K (±1% cap)

NOI $36,963 @ 7.0% cap · market cap 6.16%

Theoretical Best

Warehouse

$1.94M

$1.69M – $2.26M (±1% cap)

NOI $135,556 @ 7.0% cap · market cap 22.60%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Property Profile

Current Use

Re-Psycle BMW Parts Auto Parts Store

Suggested Use

Top Pick Building Supply Auto Repair Shop Auto Parts Store Law Firm Real Estate Agency Restaurant

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

148

Businesses Nearby

9k

Monthly Visits Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Foot Traffic Nearby

Shops & Services 100%

Marathon Petroleum Shops & Services

8,501 visits/mo 0.1 miles

Demographics for 43136, OH

1,977

Population

719

Households

2.7

Avg Household Size

34

Median Age

36%

College-Educated

97%

High-School Grad

1.2 sq mi

ZIP Area

1,648

Density / Sq Mi

$109,297

Median Household Income

$55,298

Median Earnings

$1,532

Median Rent

$303,200

Median Home Value

Market

Vacancy Rate% for Retail in Midwest region

8% 2020

7.3% 2021

6.5% 2022

6% 2023

5.7% 2024

6.3% 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 auto shops located? What is the asking price? Find similar properties ... What are key features of this property?

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Similar Off Market Nearby

• Polkat's Heavy-Duty Mobile Diesel Mechanic — E Columbus St, Lithopolis, OH 43136
• Long's Towing — 183 W Columbus St, Lithopolis, OH 43136

Frequently Asked Questions

What type of property is this?

Auto shop - High-visibility commercial property in downtown Lithopolis, suitable for automotive or retail.

Where is this auto shop located?

The property is located at 240 W Columbus Street Lithopolis, OH.

What is the asking price?

The asking price for this property is $599,900.

What are key features of this property?

This property features: High‑visibility location on the main corridor in downtown Lithopolis; Large 1.35‑acre lot suitable for ample parking, outdoor storage, or future expansion; Over 9,000 +/- square feet of space across multiple structures, offering flexibility