Historic Mixed-Use
For Sale
$229,000
334 E Center Street, Marion, OH 43302
Flexible floor plan with architectural woodwork, soaring ceilings, and updated electrical service.
Property Size3,314 SF
Price / SF$69.10
Days on Market11
Property Features for 334 E Center Street
General Information
Standard status
Active
Size
3,314 SF
Amenities
intricate woodwork
soaring ceilings
oversized windows
new rear porch with accessible ramp
new storage building
new exterior lighting
central air
2 furnaces
Building Details
Stories
2
Building Size
3,314 SF
Listing Agency:
Generations Realty
(740) 802-6435
Listed By:
Michelle Worden
(740) 802-6435
Source:
Maryhatem
Added: Aug 20
Changed: Aug 28
Last Checked: Aug 28 at 8:02PM
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 Generations Realty
Investment Insights
Based on property information with market context.
This historic mixed-use property offers over 3,300 square feet of living space across two levels, with 2,117 square feet on the main level and 1,197 square feet upstairs. The layout includes 4-5 bedrooms and 3.5 baths, along with detailed woodwork, high ceilings, oversized windows, and abundant natural light. Central air and 2 furnaces support year-round comfort.
Recent improvements include a new 200-amp electrical service with breaker panel, rear porch with an accessible ramp, storage building, exterior lighting, and two chandeliers. The property is located at 334 E Center Street in Marion, Ohio, within the downtown district and near local shops, restaurants, and community events. Its configuration supports residential, office, retail, live-work, or other mixed-use applications identified in the property information.
Recent improvements include a new 200-amp electrical service with breaker panel, rear porch with an accessible ramp, storage building, exterior lighting, and two chandeliers. The property is located at 334 E Center Street in Marion, Ohio, within the downtown district and near local shops, restaurants, and community events. Its configuration supports residential, office, retail, live-work, or other mixed-use applications identified in the property information.
Key Highlights
- Over 3,300 square feet of living space across two levels
- 4‑5 bedrooms and 3.5 baths
- 2,117 sq. ft. on the main level and 1,197 sq. ft. upstairs
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
$12,928
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
5.65%
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%
$258,560
$258.6K
Cap Rate 7%
$184,686
$184.7K
Cap Rate 9%
$143,644
$143.6K
Market Conditions
NOI Build-Up for 3,314 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
$19.2K $5.78/SF
− Vacancy
−$686 −$0.21/SF
EGI
$18.5K $5.57/SF
− OpEx
−$5.5K −$1.67/SF
NOI
$12.9K $3.90/SF
Area
Marion County, OH
Vacancy
3.58%
Lease Rate
$5.78 /SF/Yr
Expense Ratio
30.00%
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%
$258,560
Cap Rate 7%
$184,686
Cap Rate 9%
$143,644
Alternative Uses
Best Use
Office B
$581.8K
$509.0K – $678.7K
NOI $40,723 @ 7.0% cap · market cap 17.78%
Second Best
Retail
$184.7K
$161.6K – $215.5K
NOI $12,928 @ 7.0% cap · market cap 5.65%
Theoretical Best
Office A
$669.0K
$585.4K – $780.5K
NOI $46,828 @ 7.0% cap · market cap 20.45%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
930
Businesses Nearby
Explore this area
Business Placement
Demographics for 43302, OH
54,094
Population
22,483
Households
2.4
Avg Household Size
41
Median Age
13%
College-Educated
88%
High-School Grad
195.0 sq mi
ZIP Area
277
Density / Sq Mi
$53,833
Median Household Income
$36,816
Median Earnings
$853
Median Rent
$139,700
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Flexible floor plan with architectural woodwork, soaring ceilings, and updated electrical service.
Where is this mixed-use property located?
The property is located at 334 E Center Street Marion, OH.
What is the asking price?
The asking price for this property is $229,000.
What are key features of this property?
This property features: Over 3,300 square feet of living space across two levels; 4‑5 bedrooms and 3.5 baths; 2,117 sq. ft. on the main level and 1,197 sq. ft. upstairs
