Mixed-Use Property with
For Sale
Contact for pricing
3985 Central Avenue, Shadyside, OH 43947
Two commercial levels combine customer-facing space with an independently accessed rear office and renovation-ready upper-floor space.
Property Size2,278 SF
Price / SF$85.60
Days on Market19
Property Features for 3985 Central Avenue
General Information
Standard status
Active
Size
2,278 SF
Property subtype
Retail, Office, Mixed Use
Property Condition
Severity
Minor
Evidence
will require clean-out and renovation
Listing Agency:
Harvey Goodman, REALTOR
(773) 936-6511
Listed By:
Jay Goodman, CCIM · License #BRKP.2012000489
Source:
Crexi
Added: Jul 28
Changed: Aug 13
Last Checked: Aug 13 at 7:45AM
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 Harvey Goodman, REALTOR
Investment Insights
Based on property information with market context.
This mixed-use commercial property includes two storefront areas on the main level, along with a private rear office that has its own exterior entrance. The main floor is occupied by the Rolling Hills Archery Club. The upper level requires clean-out and renovation, providing additional interior space that may support offices, studios, or storage, subject to local approvals.
The property is located on Central Avenue in the Village of Shadyside. Its combination of storefront exposure, separate office access, and unfinished second-floor area supports continued commercial use or a reconfigured layout with multiple business spaces. Residential apartment conversion may also be considered if approved by the applicable authorities.
The property is located on Central Avenue in the Village of Shadyside. Its combination of storefront exposure, separate office access, and unfinished second-floor area supports continued commercial use or a reconfigured layout with multiple business spaces. Residential apartment conversion may also be considered if approved by the applicable authorities.
Key Highlights
- Two storefront areas on the main level
- Private rear office with a separate exterior entrance
- Second floor requires clean‑out and renovation
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
$16,900
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
8.67%
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%
$338,000
$338.0K
Cap Rate 7%
$241,429
$241.4K
Cap Rate 9%
$187,778
$187.8K
Market Conditions
NOI Build-Up for 2,278 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
$25.1K $11.04/SF
− Vacancy
−$1.0K −$0.44/SF
EGI
$24.1K $10.60/SF
− OpEx
−$7.2K −$3.18/SF
NOI
$16.9K $7.42/SF
Area
Belmont County, OH
Vacancy
4.00%
Lease Rate
$11.04 /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%
$338,000
Cap Rate 7%
$241,429
Cap Rate 9%
$187,778
Alternative Uses
Best Use
Office B
$311.6K
$272.7K – $363.6K
NOI $21,814 @ 7.0% cap · market cap 11.19%
Second Best
Retail
$241.4K
$211.3K – $281.7K
NOI $16,900 @ 7.0% cap · market cap 8.67%
Theoretical Best
Specialty Retail
$446.6K
$390.7K – $521.0K
NOI $31,259 @ 7.0% cap · market cap 16.03%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
136
Businesses Nearby
Explore this area
Business Placement
Demographics for 43947, OH
5,002
Population
2,576
Households
1.9
Avg Household Size
48
Median Age
27%
College-Educated
96%
High-School Grad
17.2 sq mi
ZIP Area
291
Density / Sq Mi
$57,258
Median Household Income
$37,790
Median Earnings
$816
Median Rent
$135,500
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 - Two commercial levels combine customer-facing space with an independently accessed rear office and renovation-ready upper-floor space.
Where is this mixed-use property located?
The property is located at 3985 Central Avenue Shadyside, OH.
What is the asking price?
The asking price for this property is $195,000.
What are key features of this property?
This property features: Two storefront areas on the main level; Private rear office with a separate exterior entrance; Second floor requires clean‑out and renovation
