Storefront Property with Central
For Sale
Under Contract
$125,000
2520 E High Street, Springfield, OH 45505
COMMERCIAL - Springfield, OH
Property Size2,212 SF
Lot Size0.54 Acres
Price / SF$56.51
Days on Market54
Property Features for 2520 E High Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
Commercial
Parking features
Parking Lot
Patio and Porch features
Porch
Basement
Unfinished
Appliances
Dryer, Gas Water Heater, Refrigerator, Washer
Subdivision
Mrs
Directions
Limestone St to E. High St
Standard status
Active Under Contract
APN
3400700022100004
Size
2,212 SF
Lot size
0.54 Acres
Taxes and HOA fees
Tax Year
2025
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas, Forced Air
Cooling system
Central Air
Building Details
Year built
1843
Flooring type
Hardwood
Building materials
Aluminum Siding, Brick
Listing Agency:
Key Realty
(937) 202-9324
Listed By:
Douglas J. Acton
(937) 202-9324
Added: Jun 17
Changed: Aug 5
Last Checked: Aug 9 at 3:06PM
MLS# 1046456
Copyright © 2026 Western Regional Information System & Technology, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This storefront property is currently operating as Dreamweavers Hair Salon and is presented as a turnkey business and real estate offering. The space includes 8 styling stations and specified appliances, including a washer, dryer, and 2 refrigerators, with a gas water heater also listed among the appliances. Interior finishes include hardwood flooring, and the home’s mechanical systems feature natural gas forced-air heating and central air cooling.
The property sits on a 0.54-acre lot with a 2,212-square-foot structure. Construction materials include aluminum siding and brick. On-site parking is available with a parking lot, and the building includes a porch. The property is served by public sewer, and the year built is listed as 1843.
For any questions about specific allowable uses, contact City of Springfield Planning and Zoning Division.
The property sits on a 0.54-acre lot with a 2,212-square-foot structure. Construction materials include aluminum siding and brick. On-site parking is available with a parking lot, and the building includes a porch. The property is served by public sewer, and the year built is listed as 1843.
For any questions about specific allowable uses, contact City of Springfield Planning and Zoning Division.
Key Highlights
- Turnkey hair salon setup with 8 styling stations
- Included appliances: washer, dryer, 2 refrigerators, and gas water heater
- 2,212‑square‑foot storefront on a 0.54‑acre lot
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
$8,659
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
6.93%
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%
$173,180
$173.2K
Cap Rate 7%
$123,700
$123.7K
Cap Rate 9%
$96,211
$96.2K
Market Conditions
NOI Build-Up for 2,212 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
$12.8K $5.80/SF
− Vacancy
−$459 −$0.21/SF
EGI
$12.4K $5.59/SF
− OpEx
−$3.7K −$1.68/SF
NOI
$8.7K $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%
$173,180
Cap Rate 7%
$123,700
Cap Rate 9%
$96,211
Alternative Uses
Best Use
Retail
$123.7K
$108.2K – $144.3K
NOI $8,659 @ 7.0% cap · market cap 6.93%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$617.0K
$539.9K – $719.8K
NOI $43,189 @ 7.0% cap · market cap 34.55%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
1,299
Businesses Nearby
32k
Monthly Visits Nearby
Under-served
Demand for This Use
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
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Frequently Asked Questions
What type of property is this?
Storefront property - Single-tenant storefront currently operating as a hair salon with central air and on-site parking lot.
Where is this storefront property located?
The property is located at 2520 E High Street Springfield, OH.
What is the asking price?
The asking price for this property is $125,000.
What are key features of this property?
This property features: Turnkey hair salon setup with 8 styling stations; Included appliances: washer, dryer, 2 refrigerators, and gas water heater; 2,212‑square‑foot storefront on a 0.54‑acre lot
