Building Details

Year Built 1881

Buildings 1

Stories 2

Units 5

Listing Agency: Di Lusso Real Estate f***@myohioagency.com Show Phone

Listed By: Fisal Ikhmayes · License #2024003271

Source: Crexi

Added: Mar 9 Changed: Aug 8 Last Checked: Aug 21 at 9:31AM

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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 Di Lusso Real Estate

Investment Insights

Based on property information with market context.

Located at 27 E New Haven St, Bloomville, OH 44818, this multi-family building presents a lucrative investment opportunity. The property is fully leased and turnkey, featuring five one-bedroom, one-bath units, all of which are currently occupied. This ensures a steady cash flow, supported by a cap rate of 10.4%. The building encompasses 4,012 square feet and is situated on a 5,655 square foot lot. This property offers a blend of space and income potential.

Key Highlights

• Fully leased, turnkey multi‑family property with five one‑bedroom, one‑bath units.
• Impressive 10.4% cap rate ensures a steady cash flow.
• Building size of 4,012 sqft offers substantial space.

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

$31,182

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

8.32%

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%

$623,640 $623.6K

Cap Rate 7%

$445,457 $445.5K

Cap Rate 9%

$346,467 $346.5K

Market Conditions

NOI Build-Up for 4,012 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

$61.6K $15.36/SF

− Vacancy

−$4.9K −$1.23/SF

EGI

$56.7K $14.13/SF

− OpEx

−$25.5K −$6.36/SF

NOI

$31.2K $7.77/SF

Area

Seneca County, OH

Vacancy

8.00%

Lease Rate

$15.36 /SF/Yr

Expense Ratio

45.00%

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%

$623,640

Cap Rate 7%

$445,457

Cap Rate 9%

$346,467

Alternative Uses

Best Use

Apartment 5plus

$445.5K

$389.8K – $519.7K (±1% cap)

NOI $31,182 @ 7.0% cap · market cap 8.32%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$850.7K

$744.4K – $992.5K (±1% cap)

NOI $59,552 @ 7.0% cap · market cap 15.88%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Property Profile

Current Use

Apartment buildings

Suggested Use

Top Pick Building Supply Auto Parts Store Grocery & Convenience Store Garden Center Big Box & Wholesale Store Hair Salon

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

54

Businesses Nearby

Explore this area Business Placement

Demographics for 44818, OH

2,399

Population

837

Households

2.9

Avg Household Size

44

Median Age

14%

College-Educated

93%

High-School Grad

75.3 sq mi

ZIP Area

32

Density / Sq Mi

$64,792

Median Household Income

$43,060

Median Earnings

$788

Median Rent

$139,800

Median Home Value

Market

Vacancy Rate% for Multifamily in Midwest region

6.5% 2022

7.5% 2023

7.8% 2024

8% 2025

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Frequently Asked Questions

What type of property is this?

Apartment building - Turnkey multifamily property with five units and a 10.4% cap rate.

Where is this apartment building located?

The property is located at 27 E New Haven St Bloomville, OH.

What is the asking price?

The asking price for this property is $375,000.

What are key features of this property?

This property features: Fully leased, turnkey multi‑family property with five one‑bedroom, one‑bath units.; Impressive 10.4% cap rate ensures a steady cash flow.; Building size of 4,012 sqft offers substantial space.