Single-Story
New
For Sale
$339,900
373 Main St, Groveport, OH 43125
Two three-bedroom units offer private basements, separate gas and electric meters, new HVAC, garage space, and rear parking.
Property Size2,016 SF
Price / SF$168.60
Days on Market2
Property Features for 373 Main St
General Information
Standard status
Active
Size
2,016 SF
Property subtype
Multi-Family
Site & Location
Road Access
Yes
Utilities to Site
Yes
Units
Unit Mix
2 x 3BR/1.5BA
Multifamily Units
2
Amenities
private basements
mature landscaping
Building Details
Year Built
1968
Buildings
1
Stories
1
Listing Agency:
Daniel Lim, Lim Realty Group
(614) 226-1039
Listed By:
Rhiannon Ferrari
(614) 226-1039
Source:
Ferrarihomegroup
Added: Aug 30
Changed: Aug 31
Last Checked: Aug 31 at 2:51PM
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 Daniel Lim, Lim Realty Group
Investment Insights
Based on property information with market context.
Located at 373-377 Main St in Groveport, this single-story duplex contains 2,016 square feet and was built in 1968. Each side includes 3 bedrooms, 1.5 baths, and a private basement, with separate gas and electric metering for the units. Both sides also have new HVAC systems and Pella windows.
Unit 377 features fresh paint and granite countertops. Unit 373 includes a new water heater and is tenant-occupied through 9/30/26. Exterior features include mature landscaping, a 2.5-car garage, and rear parking. The property is near Groveport dining, shops, festivals, and the Groveport Recreation Center.
Unit 377 features fresh paint and granite countertops. Unit 373 includes a new water heater and is tenant-occupied through 9/30/26. Exterior features include mature landscaping, a 2.5-car garage, and rear parking. The property is near Groveport dining, shops, festivals, and the Groveport Recreation Center.
Key Highlights
- 2,016‑square‑foot duplex built in 1968
- Each unit has 3 bedrooms, 1.5 baths, and a private basement
- Separate gas and electric meters for each unit
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
$21,375
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
6.29%
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%
$427,500
$427.5K
Cap Rate 7%
$305,357
$305.4K
Cap Rate 9%
$237,500
$237.5K
Market Conditions
NOI Build-Up for 2,016 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
$32.7K $16.20/SF
− Vacancy
−$2.1K −$1.05/SF
EGI
$30.5K $15.15/SF
− OpEx
−$9.2K −$4.54/SF
NOI
$21.4K $10.60/SF
Area
Franklin County, OH
Vacancy
6.50%
Lease Rate
$16.20 /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%
$427,500
Cap Rate 7%
$305,357
Cap Rate 9%
$237,500
Alternative Uses
Best Use
Multifamily LT 5
$305.4K
$267.2K – $356.3K
NOI $21,375 @ 7.0% cap · market cap 6.29%
Second Best
Apartment 5plus
$297.6K
$260.4K – $347.2K
NOI $20,833 @ 7.0% cap · market cap 6.13%
Theoretical Best
Specialty Retail
$411.0K
$359.6K – $479.5K
NOI $28,770 @ 7.0% cap · market cap 8.46%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
343
Businesses Nearby
Explore this area
Business Placement
Demographics for 43125, OH
14,295
Population
6,206
Households
2.3
Avg Household Size
41
Median Age
25%
College-Educated
95%
High-School Grad
31.5 sq mi
ZIP Area
454
Density / Sq Mi
$82,376
Median Household Income
$49,023
Median Earnings
$1,193
Median Rent
$233,200
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?
Duplex - Two three-bedroom units offer private basements, separate gas and electric meters, new HVAC, garage space, and rear parking.
Where is this duplex located?
The property is located at 373 Main St Groveport, OH.
What is the asking price?
The asking price for this property is $339,900.
What are key features of this property?
This property features: 2,016‑square‑foot duplex built in 1968; Each unit has 3 bedrooms, 1.5 baths, and a private basement; Separate gas and electric meters for each unit
