Building Details

Year built 1920

Roof type Metal, Rubber

Listing Agency: OPTIMUM REALTY Show Phone

Listed By: ANNA JOHNSON Show Phone

Added: Jun 25 Changed: Aug 18 Last Checked: Aug 22 at 1:06PM

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MLS# 155620

Copyright © 2026 Greater Portsmouth Area Multiple Listing Service. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

Investment Insights

Based on property information with market context.

This 11,300-square-foot mixed-use building sits on 0.7022 acres and includes retail, entertainment, and service-oriented spaces across two levels. The interior features exposed brick, high ceilings, two half baths, and a second-floor half bath shared by building employees. Central air and natural gas heat serve the property, with public water and sewer connections. The building was constructed in 1920 and has both metal and rubber roofing.

The main level is divided between an arcade and game room used for private parties and public retail space occupied by three separate businesses. Upstairs, a tattoo shop occupies part of the floor, while another section is configured for laser tag. A rear loading dock and ample parking support the building’s commercial operations. The property is positioned at US 52 West and Center Street in New Boston, within the Ohio, Kentucky, and West Virginia tri-state area.

Key Highlights

• 11,300 square feet of mixed‑use commercial space on 0.7022 acres
• Rear loading dock with ample parking
• Two‑story layout with retail, arcade, game room, tattoo shop, and laser tag areas

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

$37,827

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

8.41%

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%

$756,540 $756.5K

Cap Rate 7%

$540,386 $540.4K

Cap Rate 9%

$420,300 $420.3K

Market Conditions

NOI Build-Up for 11,300 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

$66.2K $5.86/SF

− Vacancy

−$5.7K −$0.50/SF

EGI

$60.5K $5.36/SF

− OpEx

−$22.7K −$2.01/SF

NOI

$37.8K $3.35/SF

Area

Scioto County, OH

Vacancy

8.60%

Lease Rate

$5.86 /SF/Yr

Expense Ratio

37.50%

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%

$756,540

Cap Rate 7%

$540,386

Cap Rate 9%

$420,300

Alternative Uses

Best Use

Retail

$693.0K

$606.3K – $808.5K (±1% cap)

NOI $48,507 @ 7.0% cap · market cap 10.78%

Second Best

Mixed Use

$540.4K

$472.8K – $630.5K (±1% cap)

NOI $37,827 @ 7.0% cap · market cap 8.41%

Theoretical Best

Office A

$2.40M

$2.10M – $2.81M (±1% cap)

NOI $168,331 @ 7.0% cap · market cap 37.41%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Property Profile

Current Use

Retail space

Suggested Use

Top Pick Real Estate Agency Dental Office Electrical Service (Bike/Boat/Book/etc) Store Grocery & Convenience Store HVAC Service

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

264

Businesses Nearby

41k

Monthly Visits Nearby

Explore this area Business Placement

Foot Traffic Nearby

Shops & Services 34% Dining 29% Home Improvements & Furnishings 22% Apparel 16%

Ollie's Bargain Outlet Shops & Services

11,457 visits/mo 0.2 miles

Tractor Supply Co. Home Improvements & Furnishings

8,111 visits/mo 0.2 miles

KFC Dining

7,978 visits/mo 0.1 miles

Hibbett Sports Apparel

5,382 visits/mo 0.3 miles

Tudor's Biscuit World Dining

3,770 visits/mo 0.2 miles

Demographics for 45662, OH

27,718

Population

12,955

Households

2.1

Avg Household Size

39

Median Age

17%

College-Educated

87%

High-School Grad

55.5 sq mi

ZIP Area

499

Density / Sq Mi

$37,345

Median Household Income

$30,399

Median Earnings

$756

Median Rent

$98,100

Median Home Value

Market

Vacancy Rate% for Retail in Midwest region

8% 2020

7.3% 2021

6.5% 2022

6% 2023

5.7% 2024

6.3% 2025

Questions? Ask Rey

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What type of property is this? Where is this mixed-use properties located? What is the asking price? Find similar properties ... What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Mixed-use property - Multi-level property combines retail space, entertainment areas, shared facilities, and on-site loading access.

Where is this mixed-use property located?

The property is located at 3972 Gallia Street New Boston, OH.

What is the asking price?

The asking price for this property is $450,000.

What are key features of this property?

This property features: 11,300 square feet of mixed‑use commercial space on 0.7022 acres; Rear loading dock with ample parking; Two‑story layout with retail, arcade, game room, tattoo shop, and laser tag areas