Building Details

Year Built 1900

Buildings 1

Stories 2

Construction brick

Tenancy Multi

Listing Agency: Gary W. Cain Realty & Auctioneers,LLC

Listed By: Brad L Cain · License #2010003077 Show Phone

Source: Theacclaimedrealty

Added: Sep 18 Last Checked: Sep 22 at 11:03PM

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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 Gary W. Cain Realty & Auctioneers,LLC

Investment Insights

Based on property information with market context.

This brick mixed-use property was built in 1900 and provides 4,000 square feet on the main level. The building includes a 44-by-33-foot storefront unit, two one-bedroom efficiency apartments with full bathrooms, and an open 1,452-square-foot area suited to multiple commercial uses. The second floor is also open for additional space. A new metal roof adds a recent building improvement.

Set on a corner lot at 302 N 4th St in Toronto, Ohio, the property measures 124 by 120 feet and includes side and rear off-street parking. The combination of commercial and residential components supports a range of occupancy and operating arrangements, subject to applicable requirements.

Key Highlights

• 4,000 square feet on the main level
• 44 X 33 storefront unit
• Two one‑bedroom efficiency apartments with full bathrooms

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

$13,390

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

7.88%

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%

$267,800 $267.8K

Cap Rate 7%

$191,286 $191.3K

Cap Rate 9%

$148,778 $148.8K

Market Conditions

NOI Build-Up for 4,000 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

$23.4K $5.86/SF

− Vacancy

−$2.0K −$0.50/SF

EGI

$21.4K $5.36/SF

− OpEx

−$8.0K −$2.01/SF

NOI

$13.4K $3.35/SF

Area

Jefferson County, OH

Vacancy

8.60%

Lease Rate

$5.86 /SF/Yr

Expense Ratio

37.50%

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%

$267,800

Cap Rate 7%

$191,286

Cap Rate 9%

$148,778

Alternative Uses

Best Use

Retail

$756.5K

$661.9K – $882.6K (±1% cap)

NOI $52,955 @ 7.0% cap · market cap 31.15%

Second Best

Multifamily LT 5

$658.7K

$576.3K – $768.5K (±1% cap)

NOI $46,107 @ 7.0% cap · market cap 27.12%

Theoretical Best

Office A

$805.7K

$705.0K – $940.0K (±1% cap)

NOI $56,399 @ 7.0% cap · market cap 33.18%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Don's Appliance Sales ... Electronics & Wireless Store

Suggested Use

Top Pick Law Firm Spa & Massage Center HVAC Service Pharmacy Kitchen & Bath Showroom Plumbing Service

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Multi-tenant

Tenancy

Location Intelligence

Trade Area within ½ mile

187

Businesses Nearby

Explore this area Business Placement

Demographics for 43964, OH

9,098

Population

4,493

Households

2

Avg Household Size

46

Median Age

18%

College-Educated

94%

High-School Grad

47.3 sq mi

ZIP Area

192

Density / Sq Mi

$53,321

Median Household Income

$35,701

Median Earnings

$684

Median Rent

$121,900

Median Home Value

Market

Vacancy Rate% for Multifamily in Midwest region

6.5% 2022

7.5% 2023

7.8% 2024

8% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this mixed-use 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?

Mixed-use property - Corner commercial property combining a storefront, efficiency apartments, open expansion space, and off-street parking.

Where is this mixed-use property located?

The property is located at 302 N 4th St Toronto, OH.

What is the asking price?

The asking price for this property is $170,000.

What are key features of this property?

This property features: 4,000 square feet on the main level; 44 X 33 storefront unit; Two one‑bedroom efficiency apartments with full bathrooms