Highway-Service Gas Station
For Sale
$225,000
411 East Main Street, Ashland, OH 44085
Existing commercial building with convenience-store layout near CVS, Huntington, and YMCA anchors.
Property Size1,916 SF
Days on Market26
Property Features for 411 East Main Street
General Information
Standard status
Active
Size
1,916 SF
Property subtype
Commercial
Building Details
Building Size
1,916 SF
Listed By:
James Lewis
(314) 391-2757
Source:
Cushmanwakefield
Added: Aug 17
Changed: Sep 8
Last Checked: Sep 9 at 5:44AM
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 James Lewis
Investment Insights
Based on property information with market context.
This gas station and convenience-store property includes an existing approximately 1,916-square-foot building on 0.35 acre. Constructed in 1963, the property is zoned B-3 Highway Service District, supporting its established commercial orientation.
The site is positioned along E Main Street, also identified as OH-96, at Eastern Ave in Ashland, Ohio. Adjacent commercial and community destinations include CVS, Huntington, and YMCA. The property address is 411 E Main St, Ashland, OH 44805.
The site is positioned along E Main Street, also identified as OH-96, at Eastern Ave in Ashland, Ohio. Adjacent commercial and community destinations include CVS, Huntington, and YMCA. The property address is 411 E Main St, Ashland, OH 44805.
Key Highlights
- Approximately 1,916 SF existing building
- 0.35‑acre commercial site
- Zoned B‑3 Highway Service District
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
$20,650
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
9.18%
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%
$413,000
$413.0K
Cap Rate 7%
$295,000
$295.0K
Cap Rate 9%
$229,444
$229.4K
Market Conditions
NOI Build-Up for 1,916 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
$28.7K $15.00/SF
− Vacancy
−$1.2K −$0.63/SF
EGI
$27.5K $14.37/SF
− OpEx
−$6.9K −$3.59/SF
NOI
$20.6K $10.78/SF
Area
Ashland County, OH
Vacancy
4.20%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
25.00%
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%
$413,000
Cap Rate 7%
$295,000
Cap Rate 9%
$229,444
Alternative Uses
Best Use
Specialty Retail
$295.0K
$258.1K – $344.2K
NOI $20,650 @ 7.0% cap · market cap 9.18%
Second Best
Retail
$247.2K
$216.3K – $288.4K
NOI $17,305 @ 7.0% cap · market cap 7.69%
Theoretical Best
Office A
$361.6K
$316.4K – $421.8K
NOI $25,310 @ 7.0% cap · market cap 11.25%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
642
Businesses Nearby
55k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 86%
Groceries 13%
Home Improvements & Furnishings 2%
BP
Shops & Services
11,648 visits/mo
0.3 miles
Dollar General
Shops & Services
7,497 visits/mo
0.5 miles
Huntington Bank
Shops & Services
7,404 visits/mo
0.1 miles
Circle K
Shops & Services
7,307 visits/mo
0.1 miles
Save-A-Lot
Groceries
6,991 visits/mo
0.4 miles
Demographics for 44085, OH
3,232
Population
1,422
Households
2.3
Avg Household Size
41
Median Age
17%
College-Educated
87%
High-School Grad
50.0 sq mi
ZIP Area
65
Density / Sq Mi
$65,750
Median Household Income
$49,461
Median Earnings
$797
Median Rent
$161,900
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Gas station - Existing commercial building with convenience-store layout near CVS, Huntington, and YMCA anchors.
Where is this gas station located?
The property is located at 411 East Main Street Ashland, OH.
What is the asking price?
The asking price for this property is $225,000.
What are key features of this property?
This property features: Approximately 1,916 SF existing building; 0.35‑acre commercial site; Zoned B‑3 Highway Service District
