Mixed-Use Duplexes with
New
For Sale
$400,000
2429 Maple Ave, Zanesville, OH 43701
Two leased buildings combine commercial suites, apartments, and a separately rented garage with public transportation access.
Property Size1,350 SF
Days on Market2
Property Features for 2429 Maple Ave
General Information
Standard status
Active
Size
1,350 SF
Class
C
Property subtype
Multi-Family
Occupancy
100%
Building Details
Building Size
1,350 SF
Year Built
1930
Buildings
3
Units
4
Tenancy
Multi
Listing Agency:
Lepi & Associates Real Estate Services
Listed By:
Roberta (Bobbi) Lepi · License #284700
(740) 891-1068
Source:
Commercialcafe
Added: Sep 5
Last Checked: Sep 5 at 3:25PM
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 Lepi & Associates Real Estate Services
Investment Insights
Based on property information with market context.
This mixed-use property includes two duplex buildings offered together, with commercial areas on the main floors and residential apartments above. Both buildings are fully rented, and a detached garage is separately leased, creating five income-producing streams. The improvements date to 1930 and include newer roofs approximately 2 years old, HVAC systems under 10 years old, and newer windows throughout.
Located on Maple Ave between Francis and Taylor in Zanesville, the property has public transportation access, visible street presence, alley access, and 8+ parking spaces at each property. The offering is structured as a combined sale of both buildings, with the detached garage included as a separate leased improvement.
Located on Maple Ave between Francis and Taylor in Zanesville, the property has public transportation access, visible street presence, alley access, and 8+ parking spaces at each property. The offering is structured as a combined sale of both buildings, with the detached garage included as a separate leased improvement.
Key Highlights
- Two mixed‑use duplexes sold together with commercial areas and apartments
- Five income‑producing streams, including a separately leased detached garage
- 8+ parking spaces at each property with alley access
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
$13,365
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
3.34%
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%
$267,300
$267.3K
Cap Rate 7%
$190,929
$190.9K
Cap Rate 9%
$148,500
$148.5K
Market Conditions
NOI Build-Up for 1,350 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
$24.3K $18.00/SF
− Vacancy
−$2.9K −$2.16/SF
EGI
$21.4K $15.84/SF
− OpEx
−$8.0K −$5.94/SF
NOI
$13.4K $9.90/SF
Area
Muskingum County, OH
Vacancy
12.00%
Lease Rate
$18.00 /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%
$267,300
Cap Rate 7%
$190,929
Cap Rate 9%
$148,500
Alternative Uses
Best Use
Mixed Use
$190.9K
$167.1K – $222.8K
NOI $13,365 @ 7.0% cap · market cap 3.34%
Second Best
Multifamily LT 5
$128.7K
$112.7K – $150.2K
NOI $9,012 @ 7.0% cap · market cap 2.25%
Theoretical Best
Office A
$293.0K
$256.4K – $341.8K
NOI $20,510 @ 7.0% cap · market cap 5.13%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,132
Businesses Nearby
Explore this area
Business Placement
Demographics for 43701, OH
55,361
Population
25,785
Households
2.1
Avg Household Size
42
Median Age
18%
College-Educated
90%
High-School Grad
180.5 sq mi
ZIP Area
307
Density / Sq Mi
$54,900
Median Household Income
$34,345
Median Earnings
$819
Median Rent
$164,200
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?
Mixed-use property - Two leased buildings combine commercial suites, apartments, and a separately rented garage with public transportation access.
Where is this mixed-use property located?
The property is located at 2429 Maple Ave Zanesville, OH.
What is the asking price?
The asking price for this property is $400,000.
What are key features of this property?
This property features: Two mixed‑use duplexes sold together with commercial areas and apartments; Five income‑producing streams, including a separately leased detached garage; 8+ parking spaces at each property with alley access
