Multifamily Complex in Lodi,
411 Bank Street Lodi, OH 44254
411 Bank Street, Lodi, OH, 44254
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For Sale
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Five-unit multifamily complex with expansion potential in Lodi, Ohio.
Property Size1,788 SF
Lot Size0.24 Acres
Price / SF$220.92
Days on Market57
Property Features for 411 Bank Street
General Information
- Standard status
- Active
- Size
- 1,788 SF
- Lot size
- 0.24 Acres
- Property subtype
- Multifamily, Mixed Use
Listing Agency
Gerspacher Real Estate Group
Listed by
Sheila Miu · License #OH SAL2022006764
Source
Crexi
Added: May 21 Checked: Jul 16 at 11:51 am
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 Gerspacher Real Estate Group
Investment Insights
Based on property information with market context.
Located in the Village of Lodi, Ohio, this multifamily complex features five units within approximately 1,788 square feet on 0.2379 acres. The property includes three one-bedroom units, each with approximately 300 square feet, one two-bedroom unit with 588 square feet, and one 300-square-foot efficiency unit. The one-bedroom units each contain a living room, kitchen with a sink, stove, and refrigerator, and a bedroom. The two-bedroom unit includes a kitchen with a sink, stove, refrigerator, and microwave, a living room, and two bedrooms. The efficiency unit is a single large room with a kitchen area that includes a sink, stove, and refrigerator. The property is serviced by city water and sewer. All units are separately metered, with tenants responsible for their electric and gas expenses. The landlord covers water, sewer, and trash services and handles landscaping and snowplowing. Tenant-provided window A/C units can be used for cooling. An adjacent parcel is also available for acquisition. This additional parcel includes approximately 0.2557 acres featuring a retail/office building in shell state of approximately 1,072 square feet and an approximately 800-square-foot three-door garage with an existing tenant. The property is located in an Opportunity Zone.
Key Highlights
- Located in an Opportunity Zone, offering potential tax benefits.
- Multifamily complex featuring 5 units: 3 one‑bedroom, 1 two‑bedroom, and 1 efficiency unit.
- Separately metered for electric/gas, tenants responsible for utilities.
Local Financial Insights For Mixed Use
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $29.0k | $16.20 |
| − Vacancy | −$3.0k | −$1.65 |
| EGI | $26.0k | $14.55 |
| − OpEx | −$9.8k | −$5.46 |
| NOI | $16.3k | $9.09 |
1,788 SF · lease $16.20/SF/yr · vacancy 10.20% · expense 37.50%
Alternative Uses
Best Use
Mixed Use
$232.2K
$203.2K – $271.0K
NOI $16,257 @ 7.0% cap · market cap 4.12%
Second Best
Apartment 5plus
$201.8K
$176.5K – $235.4K
NOI $14,123 @ 7.0% cap · market cap 3.58%
Theoretical Best
Specialty Retail
$498.7K
$436.4K – $581.9K
NOI $34,911 @ 7.0% cap · market cap 8.84%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Apartment buildings
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FAQs
What type of property is this?
Apartment building - Five-unit multifamily complex with expansion potential in Lodi, Ohio.
Where is this apartment building located?
The property is located at 411 Bank Street Lodi, OH.
What is the asking price?
The asking price for this property is $395,000.
What are key features of this property?
This property features: Located in an Opportunity Zone, offering potential tax benefits.; Multifamily complex featuring 5 units: 3 one‑bedroom, 1 two‑bedroom, and 1 efficiency unit.; Separately metered for electric/gas, tenants responsible for utilities.
