Commercial Land with Road
For Sale
$699,900
392 2nd Ave, Gallipolis, OH 45631
Includes an existing building with available electric, water, and sewer service.
Property Size2,268 SF
Price / SF$308.60
Days on Market273
Property Features for 392 2nd Ave
General Information
Standard status
Active
Size
2,268 SF
Taxes and HOA fees
Annual Taxes
$2,310
Listing Agency:
Wiseman Real Estate
(740) 794-0915
Listed By:
Melissa Bowman · License #SAL.2018003481
(740) 794-0915
Source:
Exprealty
Added: Dec 2, 2025
Changed: Aug 30
Last Checked: Aug 31 at 7:37PM
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 Wiseman Real Estate
Investment Insights
Based on property information with market context.
This commercial land offering includes an existing 2,200 square foot building that was formerly used for retail. The structure may require renovation, and the HVAC condition has not been established. Available site utilities include AEP electricity and city water and sewer service.
The property has approximately 181 feet of frontage on SR 7, near the Silver Memorial Bridge and SR 35. A recent traffic count records 27,000 vehicles daily. The site is approximately 20 minutes from Nucor Steel of West Virginia and is described as suitable for restaurants, retail, and other business operations.
The property has approximately 181 feet of frontage on SR 7, near the Silver Memorial Bridge and SR 35. A recent traffic count records 27,000 vehicles daily. The site is approximately 20 minutes from Nucor Steel of West Virginia and is described as suitable for restaurants, retail, and other business operations.
Key Highlights
- Approximately 181 feet of road frontage on SR 7
- Recent traffic count of 27,000 vehicles daily
- Existing 2,200 square foot building formerly used for retail
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
$26,084
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
3.73%
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%
$521,680
$521.7K
Cap Rate 7%
$372,629
$372.6K
Cap Rate 9%
$289,822
$289.8K
Market Conditions
NOI Build-Up for 2,268 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
$38.6K $17.04/SF
− Vacancy
−$1.4K −$0.61/SF
EGI
$37.3K $16.43/SF
− OpEx
−$11.2K −$4.93/SF
NOI
$26.1K $11.50/SF
Area
Gallia County, OH
Vacancy
3.58%
Lease Rate
$17.04 /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%
$521,680
Cap Rate 7%
$372,629
Cap Rate 9%
$289,822
Alternative Uses
Best Use
Retail
$372.6K
$326.1K – $434.7K
NOI $26,084 @ 7.0% cap · market cap 3.73%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$456.8K
$399.7K – $533.0K
NOI $31,978 @ 7.0% cap · market cap 4.57%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
390
Businesses Nearby
Explore this area
Business Placement
Demographics for 45631, OH
14,200
Population
6,328
Households
2.2
Avg Household Size
43
Median Age
19%
College-Educated
87%
High-School Grad
114.6 sq mi
ZIP Area
124
Density / Sq Mi
$54,772
Median Household Income
$36,382
Median Earnings
$807
Median Rent
$138,700
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Commercial land - Includes an existing building with available electric, water, and sewer service.
Where is this commercial land located?
The property is located at 392 2nd Ave Gallipolis, OH.
What is the asking price?
The asking price for this property is $699,900.
What are key features of this property?
This property features: Approximately 181 feet of road frontage on SR 7; Recent traffic count of 27,000 vehicles daily; Existing 2,200 square foot building formerly used for retail
