Mixed-Use Live-Work
For Sale
$575,000
380 S Main St, De Graff, OH 43318
Residential and commercial improvements combine within a flexible property suited to integrated live-work operations.
Property Size12,108 SF
Price / SF$47.49
Days on Market25
Property Features for 380 S Main St
General Information
Standard status
Active
Size
12,108 SF
Warehouse & Industrial
Clear Height
16 ft
Three-Phase Power
Yes
Additional Details
Utilities to Site
Yes
Amenities
heated floors
three-phase electric
overhead doors
central air
full bath
Building Details
Year Built
1930
Buildings
3
Listing Agency:
Key Realty
(937) 935-8008
Listed By:
Malia K Hughes · License #2008001822
Source:
Thelorilynngroup
Added: Aug 4
Changed: Aug 28
Last Checked: Aug 28 at 1:05PM
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 Key Realty
Investment Insights
Based on property information with market context.
This mixed-use property combines a finished residence with multiple commercial improvements. The main home provides 2,772 SF, three bedrooms, and two baths, along with wood-beamed ceilings, knotty pine walls, an open layout, a country kitchen, and a primary suite with reading alcove. An additional unfinished 2,772 SF upper level expands the property’s configuration. The principal commercial facility contains 5,000+ SF with 16-foot ceilings, a reception area, showroom, offices, parts department, workstations, heated floors, and overhead doors measuring from 9 to 12 feet. A 1,584 SF rear shop adds a full bath, furnace, and central air. A newer 40x60 insulated building includes concrete floors, overhead doors, and plumbing prepared for a future bath. Three-phase electric is available.
Built in 1930, the property is located at 380 S Main St in DeGraff, Ohio. The improvements support a combined residential and commercial layout with separate structures for business, storage, workshop, or additional future buildout.
Built in 1930, the property is located at 380 S Main St in DeGraff, Ohio. The improvements support a combined residential and commercial layout with separate structures for business, storage, workshop, or additional future buildout.
Key Highlights
- 2,772 SF residence with 3 bedrooms and 2 baths
- Additional unfinished 2,772 SF upper level
- 5,000+ SF commercial facility with 16‑foot ceilings
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
$49,754
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
8.65%
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%
$995,080
$995.1K
Cap Rate 7%
$710,771
$710.8K
Cap Rate 9%
$552,822
$552.8K
Market Conditions
NOI Build-Up for 12,108 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
$77.6K $6.41/SF
− Vacancy
−$6.5K −$0.54/SF
EGI
$71.1K $5.87/SF
− OpEx
−$21.3K −$1.76/SF
NOI
$49.8K $4.11/SF
Area
Logan County, OH
Vacancy
8.42%
Lease Rate
$6.41 /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%
$995,080
Cap Rate 7%
$710,771
Cap Rate 9%
$552,822
Alternative Uses
Best Use
Office B
$2.13M
$1.86M – $2.48M
NOI $148,786 @ 7.0% cap · market cap 25.88%
Second Best
Mixed Use
$1.75M
$1.53M – $2.04M
NOI $122,594 @ 7.0% cap · market cap 21.32%
Theoretical Best
Office A
$2.44M
$2.14M – $2.85M
NOI $171,089 @ 7.0% cap · market cap 29.75%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
16 ft
Clear height
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
83
Businesses Nearby
Explore this area
Business Placement
Demographics for 43318, OH
3,609
Population
1,648
Households
2.2
Avg Household Size
40
Median Age
18%
College-Educated
90%
High-School Grad
64.2 sq mi
ZIP Area
56
Density / Sq Mi
$78,869
Median Household Income
$44,405
Median Earnings
$1,005
Median Rent
$204,900
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 - Residential and commercial improvements combine within a flexible property suited to integrated live-work operations.
Where is this mixed-use property located?
The property is located at 380 S Main St De Graff, OH.
What is the asking price?
The asking price for this property is $575,000.
What are key features of this property?
This property features: 2,772 SF residence with 3 bedrooms and 2 baths; Additional unfinished 2,772 SF upper level; 5,000+ SF commercial facility with 16‑foot ceilings
