Mixed-Use Property with
For Sale
$175,000
31 & 33 S Front Street, Burbank, OH 44214
Retail and residential components offer off-street parking and separate access points.
Property Size4,032 SF
Days on Market73
Property Features for 31 & 33 S Front Street
General Information
Standard status
Active
Size
4,032 SF
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$1,681
Amenities
off-street parking
multiple entrances
Building Details
Building Size
4,032 SF
Year Built
1900
Buildings
2
Listing Agency:
RE/MAX Showcase
(330) 421-2165
Listed By:
D. Michael Bomboris · License #2014003605
(330) 421-2165
Source:
Carolgoffrealestate
Added: Jun 19
Changed: Aug 30
Last Checked: Aug 25 at 9:12AM
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 Showcase
Investment Insights
Based on property information with market context.
This offering combines two adjoining buildings with 4,032 square feet of total property size. The commercial component includes retail space, while a separate unit contains two apartments, creating a combined residential and commercial configuration. Multiple entrances and off-street parking are included. Constructed in 1900, the buildings may require updates or improvements depending on the intended use.
The properties front Front Street in downtown Burbank, Ohio, providing a street-facing setting within the community. The package presents a single acquisition combining retail space, apartment accommodations, and parking in adjoining structures.
The properties front Front Street in downtown Burbank, Ohio, providing a street-facing setting within the community. The package presents a single acquisition combining retail space, apartment accommodations, and parking in adjoining structures.
Key Highlights
- Two adjoining mixed‑use properties offered together
- 4,032 square feet of property size
- Retail space included in the commercial component
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
$13,497
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
7.71%
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%
$269,940
$269.9K
Cap Rate 7%
$192,814
$192.8K
Cap Rate 9%
$149,967
$150.0K
Market Conditions
NOI Build-Up for 4,032 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
$23.6K $5.86/SF
− Vacancy
−$2.0K −$0.50/SF
EGI
$21.6K $5.36/SF
− OpEx
−$8.1K −$2.01/SF
NOI
$13.5K $3.35/SF
Area
Wayne 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%
$269,940
Cap Rate 7%
$192,814
Cap Rate 9%
$149,967
Alternative Uses
Best Use
Retail
$579.4K
$507.0K – $676.0K
NOI $40,558 @ 7.0% cap · market cap 23.18%
Second Best
Office B
$570.2K
$499.0K – $665.3K
NOI $39,917 @ 7.0% cap · market cap 22.81%
Theoretical Best
Multifamily LT 5
$2.95M
$2.58M – $3.44M
NOI $206,283 @ 7.0% cap · market cap 117.88%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
67
Businesses Nearby
Explore this area
Business Placement
Demographics for 44214, OH
2,149
Population
776
Households
2.8
Avg Household Size
43
Median Age
14%
College-Educated
94%
High-School Grad
26.4 sq mi
ZIP Area
81
Density / Sq Mi
$87,381
Median Household Income
$45,479
Median Earnings
$810
Median Rent
$212,200
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Mixed-use property - Retail and residential components offer off-street parking and separate access points.
Where is this mixed-use property located?
The property is located at 31 & 33 S Front Street Burbank, OH.
What is the asking price?
The asking price for this property is $175,000.
What are key features of this property?
This property features: Two adjoining mixed‑use properties offered together; 4,032 square feet of property size; Retail space included in the commercial component
