Mixed-Use Property with Loft
409 W Gambier Street, Mount Vernon, OH 43050
For Sale
$650,000
A freight elevator links the residential, warehouse, shop, office, and apartment areas across multiple levels.
Property Size12,983 SF
Price / SF$50.07
Days on Market255
Property Features for 409 W Gambier Street
General Information
Standard status
Size
Property subtype
Zoning
Warehouse & Industrial
Warehouse Space
Office Build-Out
Additional Details
Automotive Uses
Real Estate Included
Property Use
Taxes and HOA fees
Annual Taxes
Amenities
vaulted ceilings
framed beams
exposed brick walls
private game room
freight elevator
Building Details
Building Size
Year Built
Buildings
Stories
Listing Agency:
KW Classic Properties Realty
(614) 451-8500
Listed By:
Douglas J Ryan · License #393609
(614) 374-6919
Source:
Douglaskeycresolutions
Added: Feb 26
Changed: Nov 7
Last Checked: Nov 7 at 2:46AM
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 KW Classic Properties Realty
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Investment Insights
Based on property information with market context.
This mixed-use property contains approximately 12,983 square feet across residential, warehouse, automotive, office, and apartment spaces. The upper level includes 3,700 square feet of living area with vaulted ceilings, framed beams, and exposed brick, plus a 1,100-square-foot game room. On the ground floor are 5,100 square feet of warehouse and storage space, a 2,100-square-foot auto shop, a 550-square-foot office, and a 1,000-square-foot apartment. A 4,000-pound freight elevator serves the levels, including the 3,400-square-foot lower level.
The property is near downtown Mount Vernon and is zoned General Bus. It was built in 1900.
The property is near downtown Mount Vernon and is zoned General Bus. It was built in 1900.
Key Highlights
- Approximately 12,983 square feet of mixed‑use space
- Upper level includes 3,700 square feet of living area and a 1,100‑square‑foot game room
- Ground floor has 5,100 square feet of warehouse/storage space and a 2,100‑square‑foot auto shop
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$53,350
Cap Rate
8.21%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,067,000
$1.1M
Cap Rate 7%
$762,143
$762.1K
Cap Rate 9%
$592,778
$592.8K
Market Conditions
NOI Build-Up for 12,983 SF
Gross rent
$83.2K $6.41/SF
− Vacancy
−$7.0K −$0.54/SF
EGI
$76.2K $5.87/SF
− OpEx
−$22.9K −$1.76/SF
NOI
$53.3K $4.11/SF
Area
Knox 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 Rate 5%
$1,067,000
Cap Rate 7%
$762,143
Cap Rate 9%
$592,778
Alternative Uses
Best Use
Office B
$2.13M
$1.86M – $2.48M
NOI $148,857 @ 7.0% cap · market cap 22.90%
Second Best
Warehouse
$925.5K
$809.8K – $1.08M
NOI $64,782 @ 7.0% cap · market cap 9.97%
Theoretical Best
Specialty Retail
$3.62M
$3.17M – $4.22M
NOI $253,494 @ 7.0% cap · market cap 39.00%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
905
Businesses Nearby
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Business Placement
Demographics for 43050, OH
29,594
Population
13,416
Households
2.2
Avg Household Size
42
Median Age
25%
College-Educated
93%
High-School Grad
154.1 sq mi
ZIP Area
192
Density / Sq Mi
$65,044
Median Household Income
$38,709
Median Earnings
$933
Median Rent
$199,000
Median Home Value
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Market
Vacancy Rate% for Office in Midwest region
Frequently Asked Questions
What type of property is this?
Mixed-use property - A freight elevator links the residential, warehouse, shop, office, and apartment areas across multiple levels.
Where is this mixed-use property located?
The property is located at 409 W Gambier Street Mount Vernon, OH.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: Approximately 12,983 square feet of mixed‑use space; Upper level includes 3,700 square feet of living area and a 1,100‑square‑foot game room; Ground floor has 5,100 square feet of warehouse/storage space and a 2,100‑square‑foot auto shop
