Building Details

Buildings 2

Listing Agency: CENTURY 21 Empire Realty SE Show Phone

Listed By: Matthew Schackart Show Phone

Source: Exprealty

Added: Aug 23 Changed: Sep 6 Last Checked: Sep 8 at 7:18AM

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Investment Insights

Based on property information with market context.

This multifamily property includes a two-story main house with a large kitchen, elevator, handicapped-accessible deck, backup generator, and sprinkler system. The improvements also include a separate building containing two one-story apartments.

Outdoor features include a fenced yard, covered patio, and storage shed. A paved parking lot provides off-street parking, while the elevator and accessible deck add functional features to the main house. The property is located on Charles Street in Sardinia, Ohio.

Key Highlights

• Two‑story main house with elevator and large kitchen
• Separate building with two one‑story apartments
• Handicapped‑accessible deck, backup generator, and sprinkler system

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

$19,205

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

8.10%

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%

$384,100 $384.1K

Cap Rate 7%

$274,357 $274.4K

Cap Rate 9%

$213,389 $213.4K

Market Conditions

NOI Build-Up for 4,670 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

$37.5K $8.04/SF

− Vacancy

−$2.6K −$0.56/SF

EGI

$34.9K $7.48/SF

− OpEx

−$15.7K −$3.36/SF

NOI

$19.2K $4.11/SF

Area

Brown County, OH

Vacancy

7.00%

Lease Rate

$8.04 /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%

$384,100

Cap Rate 7%

$274,357

Cap Rate 9%

$213,389

Alternative Uses

Best Use

Apartment 5plus

$274.4K

$240.1K – $320.1K (±1% cap)

NOI $19,205 @ 7.0% cap · market cap 8.10%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$923.4K

$807.9K – $1.08M (±1% cap)

NOI $64,635 @ 7.0% cap · market cap 27.27%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Current Use

Assisted living facilities

Suggested Use

Top Pick Parking Lot & Garage Real Estate Agency Dental Office Building Supply Plumbing Service 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.

Lease Details

3

Residential units

Yes

Sprinkler system

Location Intelligence

Trade Area within ½ mile

113

Businesses Nearby

Explore this area Business Placement

Demographics for 45171, OH

6,174

Population

2,819

Households

2.2

Avg Household Size

44

Median Age

17%

College-Educated

91%

High-School Grad

80.9 sq mi

ZIP Area

76

Density / Sq Mi

$63,780

Median Household Income

$42,818

Median Earnings

$929

Median Rent

$178,500

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 multifamily 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?

Multifamily property - Two-story former care facility with separate apartments, accessible features, and paved off-street parking.

Where is this multifamily property located?

The property is located at 33-121 Charles Street Sardinia, OH.

What is the asking price?

The asking price for this property is $237,000.

What are key features of this property?

This property features: Two‑story main house with elevator and large kitchen; Separate building with two one‑story apartments; Handicapped‑accessible deck, backup generator, and sprinkler system