General Business Live-Work
For Sale
$500,000
307 Harcourt Rd, Mount Vernon, OH 43050
Ranch home with office space plus a detached 48 by 28 building, offered for sale in a General Business zone.
Property Size2,114 SF
Lot Size1.96 Acres
Price / SF$236.52
Days on Market183
Property Features for 307 Harcourt Rd
General Information
Standard status
Active
Size
2,114 SF
Lot size
1.96 Acres
Zoning
General Business
Amenities
gas log fireplace
dining room
kitchen with stainless steel appliances
home office
rec room
Building Details
Year Built
1959
Listing Agency:
Re/Max Stars
Listed By:
Sam Miller · License #331052
(800) 282-9096
Source:
Thelorilynngroup
Added: Apr 24
Changed: Oct 11
Last Checked: Oct 7 at 1:49PM
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 Stars
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Investment Insights
Based on property information with market context.
This for-sale live-work commercial property features a ranch home configured with three bedrooms and two full bathrooms, along with a living room with a gas log fireplace, an adjoining dining room, and a kitchen with stainless steel appliances. Additional interior space includes a home office area and a lower-level rec room.
The property is zoned General Business and is described as high-visibility among established Mount Vernon businesses. A detached 48 by 28 building provides 1,344 square feet, and the site includes ample parking.
The combination of the residence, dedicated office space, and detached building supports a variety of commercial uses consistent with the General Business zoning, with the overall site totaling 1.96 acres.
The property is zoned General Business and is described as high-visibility among established Mount Vernon businesses. A detached 48 by 28 building provides 1,344 square feet, and the site includes ample parking.
The combination of the residence, dedicated office space, and detached building supports a variety of commercial uses consistent with the General Business zoning, with the overall site totaling 1.96 acres.
Key Highlights
- Commercial property featuring a ranch home built in 1959 and a detached 48 x 28 building (1,344 SF), both on 1.96 acres.
- Zoned General Business, with the home offering 3 bedrooms and 2 full baths.
- Home layout includes a living room with gas log fireplace and an adjoining dining room.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$24,238
Cap Rate
4.85%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$484,760
$484.8K
Cap Rate 7%
$346,257
$346.3K
Cap Rate 9%
$269,311
$269.3K
Market Conditions
NOI Build-Up for 2,114 SF
Gross rent
$43.4K $20.52/SF
− Vacancy
−$11.1K −$5.23/SF
EGI
$32.3K $15.29/SF
− OpEx
−$8.1K −$3.82/SF
NOI
$24.2K $11.47/SF
Area
Knox County, OH
Vacancy
25.50%
Lease Rate
$20.52 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$484,760
Cap Rate 7%
$346,257
Cap Rate 9%
$269,311
Alternative Uses
Best Use
Office B
$346.3K
$303.0K – $404.0K
NOI $24,238 @ 7.0% cap · market cap 4.85%
Second Best
Mixed Use
$110.8K
$97.0K – $129.3K
NOI $7,756 @ 7.0% cap · market cap 1.55%
Theoretical Best
Specialty Retail
$589.7K
$516.0K – $687.9K
NOI $41,276 @ 7.0% cap · market cap 8.26%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
155
Businesses Nearby
Explore this area
Business Placement
Demographics for 43050, OH
29,594
Population
13,416
Households
2.2
Avg Household Size
42
Median Age
25%
College-Educated
93%
High-School Grad
154.1 sq mi
ZIP Area
192
Density / Sq Mi
$65,044
Median Household Income
$38,709
Median Earnings
$933
Median Rent
$199,000
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Midwest region
Frequently Asked Questions
What type of property is this?
Live-work space - Ranch home with office space plus a detached 48 by 28 building, offered for sale in a General Business zone.
Where is this live-work space located?
The property is located at 307 Harcourt Rd Mount Vernon, OH.
What is the asking price?
The asking price for this property is $500,000.
What are key features of this property?
This property features: Commercial property featuring a ranch home built in 1959 and a detached 48 x 28 building (1,344 SF), both on 1.96 acres.; Zoned General Business, with the home offering 3 bedrooms and 2 full baths.; Home layout includes a living room with gas log fireplace and an adjoining dining room.
