Retail Space with Two Overhead
For Sale
Contact for pricing
2419 E High St, Springfield, OH 45505
Zoned CC-2 with freshly painted interior, new flooring, and two large overhead bays for versatile retail use.
Property Size4,000 SF
Price / SF$68.75
Days on Market633
Property Features for 2419 E High St
General Information
Standard status
Active
Size
4,000 SF
Property subtype
RETAIL
Zoning
CC-2
Listing Agency:
Coldwell Banker - Heritage
(937) 429-4500
Listed By:
Matthew W Taylor · License #2014005287
(937) 429-4500
Source:
Moodyscre
Added: Nov 14, 2024
Changed: Jul 29
Last Checked: Aug 8 at 1:59PM
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 Coldwell Banker - Heritage
Investment Insights
Based on property information with market context.
This 4,000 square foot retail space at 2419 E High St, Springfield, OH 45505 is zoned CC-2 (Community Commercial District), offering flexible options for retail, service, or community-oriented business uses. The building has been freshly painted and upgraded with new flooring throughout, and it includes two large overhead bays.
The property is positioned for visibility on a major thoroughfare, with over 5,500 cars driving by every day. For tenants or owners seeking a storefront with strong drive-by exposure and adaptable space, the combination of recent interior updates and overhead-bay access is well suited for a range of commercial concepts.
The property is positioned for visibility on a major thoroughfare, with over 5,500 cars driving by every day. For tenants or owners seeking a storefront with strong drive-by exposure and adaptable space, the combination of recent interior updates and overhead-bay access is well suited for a range of commercial concepts.
Key Highlights
- 4,000 square foot retail space zoned CC‑2 (Community Commercial District)
- Two large overhead bays
- Freshly painted interior with new flooring throughout
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
$15,659
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
5.69%
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%
$313,180
$313.2K
Cap Rate 7%
$223,700
$223.7K
Cap Rate 9%
$173,989
$174.0K
Market Conditions
NOI Build-Up for 4,000 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
$23.2K $5.80/SF
− Vacancy
−$831 −$0.21/SF
EGI
$22.4K $5.59/SF
− OpEx
−$6.7K −$1.68/SF
NOI
$15.7K $3.91/SF
Area
Clark County, OH
Vacancy
3.58%
Lease Rate
$5.80 /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%
$313,180
Cap Rate 7%
$223,700
Cap Rate 9%
$173,989
Alternative Uses
Best Use
Retail
$223.7K
$195.7K – $261.0K
NOI $15,659 @ 7.0% cap · market cap 5.69%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.12M
$976.3K – $1.30M
NOI $78,100 @ 7.0% cap · market cap 28.40%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,299
Businesses Nearby
32k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 63%
Hotels & Casinos 20%
Shops & Services 18%
Wendy's
Dining
20,333 visits/mo
0.5 miles
Courtyard Springfield Downtown
Hotels & Casinos
6,365 visits/mo
0.1 miles
Huntington Bank
Shops & Services
5,717 visits/mo
0.2 miles
Demographics for 45505, OH
19,708
Population
9,365
Households
2.1
Avg Household Size
38
Median Age
10%
College-Educated
84%
High-School Grad
13.6 sq mi
ZIP Area
1,449
Density / Sq Mi
$42,409
Median Household Income
$30,322
Median Earnings
$802
Median Rent
$87,500
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Retail space - Zoned CC-2 with freshly painted interior, new flooring, and two large overhead bays for versatile retail use.
Where is this retail space located?
The property is located at 2419 E High St Springfield, 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: 4,000 square foot retail space zoned CC‑2 (Community Commercial District); Two large overhead bays; Freshly painted interior with new flooring throughout
