Building Details

Year built 2001

Building materials Block/Concrete

Roof type Metal, Rubber

Listing Agency: Better Homes & Gardens Real Estate Redd, Brown, & Williams Show Phone

Listed By: Josh McGrath Show Phone

Added: Feb 23 Changed: Sep 14 Last Checked: Sep 25 at 11:06AM

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MLS# 183190

Copyright © 2026 Huntington Board of Realtors. 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 freestanding storefront property provides approximately 11,000 square feet of commercial space on a 0.97-acre parcel. The building was constructed in 2001 with block and concrete materials, offering a durable commercial structure for continued retail or other storefront-oriented use.

Located at 259 State Street in Proctorville, Ohio, the property includes central heating powered by natural gas and central air conditioning. Roofing consists of metal and rubber systems, adding to the building’s established physical improvements.

Key Highlights

• Approximately 11,000 square feet of commercial space
• 0.97‑acre parcel at 259 State Street, Proctorville, OH 45699
• Constructed in 2001 with block and concrete materials

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

$42,489

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

5.86%

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%

$849,780 $849.8K

Cap Rate 7%

$606,986 $607.0K

Cap Rate 9%

$472,100 $472.1K

Market Conditions

NOI Build-Up for 11,000 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

$63.4K $5.76/SF

− Vacancy

−$2.7K −$0.24/SF

EGI

$60.7K $5.52/SF

− OpEx

−$18.2K −$1.66/SF

NOI

$42.5K $3.86/SF

Area

Lawrence County, OH

Vacancy

4.20%

Lease Rate

$5.76 /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%

$849,780

Cap Rate 7%

$606,986

Cap Rate 9%

$472,100

Alternative Uses

Best Use

Retail

$607.0K

$531.1K – $708.2K (±1% cap)

NOI $42,489 @ 7.0% cap · market cap 5.86%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$2.50M

$2.19M – $2.92M (±1% cap)

NOI $175,275 @ 7.0% cap · market cap 24.18%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Amy L. Floyd, ... Pharmacy Chad Stockham, RPH Pharmacy Fruth Pharmacy Pharmacy Western Union Bank Ashley A. Houvouras, Pharm Pharmacy

Suggested Use

Top Pick Dental Office HVAC Service Electrical Service Grocery & Convenience Store Kitchen & Bath Showroom Bakery

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

275

Businesses Nearby

88k

Monthly Visits Nearby

Balanced

Demand for This Use

Explore this area Business Placement

Foot Traffic Nearby

Dining 40% Shops & Services 34% Groceries 23% Home Improvements & Furnishings 4%

McDonald's Dining

22,419 visits/mo 0.4 miles

Kroger Groceries

20,100 visits/mo 0.3 miles

Speedway Shops & Services

12,197 visits/mo 0.2 miles

Wendy's Dining

10,424 visits/mo 0.3 miles

Dollar General Shops & Services

7,877 visits/mo 0.3 miles

Demographics for 45699, OH

1,236

Population

2

Households

618

Avg Household Size

31

Median Age

63%

High-School Grad

0.3 sq mi

ZIP Area

4,120

Density / Sq Mi

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

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What type of property is this? Where is this storefront properties located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Storefront property - Commercial storefront with substantial interior space and central heating and cooling.

Where is this storefront property located?

The property is located at 259 State Street Proctorville, OH.

What is the asking price?

The asking price for this property is $725,000.

What are key features of this property?

This property features: Approximately 11,000 square feet of commercial space; 0.97‑acre parcel at 259 State Street, Proctorville, OH 45699; Constructed in 2001 with block and concrete materials