Historic Multifamily
For Sale
Contact for pricing
364 E Church Street, Marion, OH 43302
Residentially zoned property near Marion’s downtown business district.
Property Size6,537 SF
Price / SF$91.63
Days on Market21
Property Features for 364 E Church Street
General Information
Standard status
Active
Size
6,537 SF
Total Parking Spaces
7
Property subtype
Multifamily
Zoning
Residential
Investment Type
Redevelopment
Building Details
Year Built
1910
Buildings
1
Stories
3
Units
4
Listing Agency:
Best Corporate Real Estate
(614) 559-3350
Listed By:
Randy Best · License #311236
Source:
Crexi
Added: Aug 11
Changed: Aug 27
Last Checked: Aug 29 at 1:47PM
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 Best Corporate Real Estate
Investment Insights
Based on property information with market context.
This 6,537-square-foot multifamily property was built in 1910 and is identified as a historic building. The property is described as offering flexibility for multiple residential units or use as a single home, with redevelopment possibilities also noted.
Located at 364 E Church Street, the property is within walking distance of Marion’s downtown business district, restaurants, churches, and public services. Nearby destinations include the Downtown Green Space, Sansotta’s Fresh Italian, Tubby’s Pizza, and the Warren G. Harding Presidential Library and Museum. Residential zoning applies to the site.
Located at 364 E Church Street, the property is within walking distance of Marion’s downtown business district, restaurants, churches, and public services. Nearby destinations include the Downtown Green Space, Sansotta’s Fresh Italian, Tubby’s Pizza, and the Warren G. Harding Presidential Library and Museum. Residential zoning applies to the site.
Key Highlights
- 6,537‑square‑foot multifamily property
- Built in 1910 and identified as a historic building
- Residential zoning
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
$19,224
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
3.21%
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%
$384,480
$384.5K
Cap Rate 7%
$274,629
$274.6K
Cap Rate 9%
$213,600
$213.6K
Market Conditions
NOI Build-Up for 6,537 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
$38.2K $5.85/SF
− Vacancy
−$3.3K −$0.50/SF
EGI
$35.0K $5.35/SF
− OpEx
−$15.7K −$2.41/SF
NOI
$19.2K $2.94/SF
Area
Marion County, OH
Vacancy
8.60%
Lease Rate
$5.85 /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%
$384,480
Cap Rate 7%
$274,629
Cap Rate 9%
$213,600
Alternative Uses
Best Use
Apartment 5plus
$274.6K
$240.3K – $320.4K
NOI $19,224 @ 7.0% cap · market cap 3.21%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.32M
$1.15M – $1.54M
NOI $92,369 @ 7.0% cap · market cap 15.42%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
944
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 Multifamily 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?
Multifamily property - Residentially zoned property near Marion’s downtown business district.
Where is this multifamily property located?
The property is located at 364 E Church Street Marion, OH.
What is the asking price?
The asking price for this property is $599,000.
What are key features of this property?
This property features: 6,537‑square‑foot multifamily property; Built in 1910 and identified as a historic building; Residential zoning
