8-Unit Apartment
New
For Sale
$379,900
Pending
303 E Merry Ave, Bowling Green, OH 43402
Two addresses occupy one parcel, with a compact eight-unit residential configuration.
Property Size1,440 SF
Days on Market7
Property Features for 303 E Merry Ave
General Information
Standard status
Pending
Size
1,440 SF
Property subtype
Residential Income
Additional Details
Multifamily Units
8
Listing Agency:
RE/MAX Masters
(419) 874-1188
Listed By:
Jonathan D. Modene · License #354203
(419) 466-7653
Source:
Exprealty
Added: Oct 26
Changed: Oct 30
Last Checked: Nov 1 at 8:07AM
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 RE/MAX Masters
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Investment Insights
Based on property information with market context.
This apartment property comprises 8 total units across two addresses: 303 E Merry Ave and 630 N Summit. Both addresses are situated on one parcel in Bowling Green, Ohio. The property size is listed as 1,440 square feet.
Key Highlights
- 8 total units on one parcel
- Addresses: 303 E Merry Ave and 630 N Summit
- 1,440 square feet
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$11,105
Cap Rate
2.92%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$222,100
$222.1K
Cap Rate 7%
$158,643
$158.6K
Cap Rate 9%
$123,389
$123.4K
Market Conditions
NOI Build-Up for 1,440 SF
Gross rent
$21.3K $14.76/SF
− Vacancy
−$1.1K −$0.74/SF
EGI
$20.2K $14.02/SF
− OpEx
−$9.1K −$6.31/SF
NOI
$11.1K $7.71/SF
Area
Wood County, OH
Vacancy
5.00%
Lease Rate
$14.76 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$222,100
Cap Rate 7%
$158,643
Cap Rate 9%
$123,389
Alternative Uses
Best Use
Apartment 5plus
$158.6K
$138.8K – $185.1K
NOI $11,105 @ 7.0% cap · market cap 2.92%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$335.4K
$293.5K – $391.3K
NOI $23,479 @ 7.0% cap · market cap 6.18%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
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Lease Details
8
Residential units
Location Intelligence
Trade Area within ½ mile
911
Businesses Nearby
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Business Placement
Demographics for 43402, OH
31,459
Population
14,784
Households
2.1
Avg Household Size
31
Median Age
45%
College-Educated
96%
High-School Grad
110.7 sq mi
ZIP Area
284
Density / Sq Mi
$56,245
Median Household Income
$26,393
Median Earnings
$875
Median Rent
$230,500
Median Home Value
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Apartment building - Two addresses occupy one parcel, with a compact eight-unit residential configuration.
Where is this apartment building located?
The property is located at 303 E Merry Ave Bowling Green, OH.
What is the asking price?
The asking price for this property is $379,900.
What are key features of this property?
This property features: 8 total units on one parcel; Addresses: 303 E Merry Ave and 630 N Summit; 1,440 square feet
