Storefront Commercial
For Sale
$725,000
259 State Street, Proctorville, OH 45699
COMMERCIAL - Proctorville, OH
Property Size11,000 SF
Lot Size0.97 Acres
Price / SF$65.91
Days on Market184
Property Features for 259 State Street
General Information
Property type
Commercial Sale
Property subtype
Other
Lot features
Level
Directions
From I-75, take Exit 214 toward ProctorVille. Merge onto Main Ave and drive 2 miles. Turn right on Elm Street, then left on State Street. Continue 0.5 miles-259 State Street will be on your right.
Subdivision
33A - Proctorville
Standard status
Active
APN
18-01-20
Lot size
0.97 Acres
Utilities
Heating system
Natural Gas, Central
Cooling system
Central Air
Building Details
Year built
2001
Building materials
Block/Concrete
Roof type
Metal, Rubber
Listing Agency:
Better Homes & Gardens Real Estate Redd, Brown, & Williams
(304) 419-1750
Listed By:
Josh McGrath
(304) 419-1750
Added: Feb 23
Changed: Aug 18
Last Checked: Aug 26 at 11:06AM
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 storefront property at 259 State Street provides 11,000 square feet of commercial space on a 0.97-acre parcel in Proctorville, Ohio. The building was constructed in 2001 with block and concrete materials, offering a substantial existing structure for a range of commercial configurations.
Building systems include central air conditioning and natural gas heat. Roofing consists of both metal and rubber sections, providing two established roof systems across the property. The location is within the 45699 postal area of Lawrence County.
Building systems include central air conditioning and natural gas heat. Roofing consists of both metal and rubber sections, providing two established roof systems across the property. The location is within the 45699 postal area of Lawrence County.
Key Highlights
- 11,000 square feet of commercial space
- 0.97‑acre parcel at 259 State Street, Proctorville, OH 45699
- Block/concrete construction
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
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
NOI $175,275 @ 7.0% cap · market cap 24.18%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
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
Questions? Ask Rey
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Similar Off Market Nearby
- Kroger Floral — 214 Lawrence St, Proctorville, OH 45669
Frequently Asked Questions
What type of property is this?
Storefront property - Block-and-concrete commercial building with central air, natural gas heat, and metal and rubber roofing.
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: 11,000 square feet of commercial space; 0.97‑acre parcel at 259 State Street, Proctorville, OH 45699; Block/concrete construction
