Mixed-Use Retail with
For Sale
$140,000
25 E Main Street, Plymouth, OH 44865
Main-level laundromat with two apartments above, offering flexible operating and leasing options in one mixed-use setup.
Property Size2,400 SF
Days on Market167
Property Features for 25 E Main Street
General Information
Standard status
Active
Size
2,400 SF
Property subtype
Commercial
Additional Details
Business Included
Yes
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$1,110
Building Details
Building Size
2,400 SF
Year Built
1915
Stories
2
Listing Agency:
RE/MAX Town Center
(614) 428-7444
Listed By:
Ronald D Kendle
(614) 325-6295
Source:
Carolgoffrealestate
Added: Mar 22
Changed: Sep 4
Last Checked: Sep 1 at 9:01PM
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 RE/MAX Town Center
Investment Insights
Based on property information with market context.
This mixed-use property combines a commercial laundromat on the main level with two residential apartments on the upper floors. The current layout supports multiple income streams under one roof, with the commercial space providing one use and the apartments providing two additional living units. Unit 1 has received some recent updates throughout, while Unit 2 is available for a buyer to bring their own ideas and finishes.
The property is located at 25 E Main St in Plymouth, Ohio. With both retail and residential components on-site, the building can appeal to owner-operators who want to run a business while maintaining on the same property, or to buyers looking for tenant-managed income from the different levels.
From a tenant or buyer perspective, the combination of uses can broaden the pool of occupants and create practical flexibility in how the space is used. The laundromat portion may be suitable for an operator looking for an established commercial setup, and the apartments can support occupancy for long-term residential demand. Unit 2’s condition also offers a straightforward path for personalization and renovation, depending on the buyer’s goals.
The property is located at 25 E Main St in Plymouth, Ohio. With both retail and residential components on-site, the building can appeal to owner-operators who want to run a business while maintaining on the same property, or to buyers looking for tenant-managed income from the different levels.
From a tenant or buyer perspective, the combination of uses can broaden the pool of occupants and create practical flexibility in how the space is used. The laundromat portion may be suitable for an operator looking for an established commercial setup, and the apartments can support occupancy for long-term residential demand. Unit 2’s condition also offers a straightforward path for personalization and renovation, depending on the buyer’s goals.
Key Highlights
- Mixed‑use building with a main‑level laundromat and two apartments on the upper level
- Unit 1 has had some recent updates
- Unit 2 is set up for buyers to bring their own ideas and finishes
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
$10,302
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
7.36%
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%
$206,040
$206.0K
Cap Rate 7%
$147,171
$147.2K
Cap Rate 9%
$114,467
$114.5K
Market Conditions
NOI Build-Up for 2,400 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
$15.3K $6.36/SF
− Vacancy
−$546 −$0.23/SF
EGI
$14.7K $6.13/SF
− OpEx
−$4.4K −$1.84/SF
NOI
$10.3K $4.29/SF
Area
Huron County, OH
Vacancy
3.58%
Lease Rate
$6.36 /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%
$206,040
Cap Rate 7%
$147,171
Cap Rate 9%
$114,467
Alternative Uses
Best Use
Multifamily LT 5
$300.7K
$263.1K – $350.8K
NOI $21,049 @ 7.0% cap · market cap 15.04%
Second Best
Apartment 5plus
$276.9K
$242.3K – $323.0K
NOI $19,382 @ 7.0% cap · market cap 13.84%
Theoretical Best
Specialty Retail
$498.8K
$436.5K – $582.0K
NOI $34,918 @ 7.0% cap · market cap 24.94%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
93
Businesses Nearby
Explore this area
Business Placement
Demographics for 44865, OH
3,164
Population
1,279
Households
2.5
Avg Household Size
41
Median Age
16%
College-Educated
83%
High-School Grad
38.3 sq mi
ZIP Area
83
Density / Sq Mi
$73,173
Median Household Income
$35,173
Median Earnings
$871
Median Rent
$142,600
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?
Duplex - Main-level laundromat with two apartments above, offering flexible operating and leasing options in one mixed-use setup.
Where is this duplex located?
The property is located at 25 E Main Street Plymouth, OH.
What is the asking price?
The asking price for this property is $140,000.
What are key features of this property?
This property features: Mixed‑use building with a main‑level laundromat and two apartments on the upper level; Unit 1 has had some recent updates; Unit 2 is set up for buyers to bring their own ideas and finishes
