Storefront Property with
For Sale
Contact for pricing
413 Bank St, Lodi, OH 44254
The property carries M-U (Multi-Use) zoning in the Village of Lodi.
Property Size1,872 SF
Lot Size0.24 Acres
Price / SF$66.77
Days on Market96
Property Features for 413 Bank St
General Information
Standard status
Active
Size
1,872 SF
Lot size
0.24 Acres
Property subtype
RETAIL
Zoning
M-U
Additional Details
Opportunity Zone
Yes
Building Details
Buildings
2
Listing Agency:
Gerspacher Real Estate Group
(216) 780-9975
Listed By:
Sheila Miu · License #SAL2022006764
(216) 780-9975
Source:
Moodyscre
Added: May 27
Changed: Aug 30
Last Checked: Aug 30 at 5:20AM
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.
This storefront property includes approximately 1,872 square feet across a former retail/office building and a detached garage. The building contains approximately 1,072 square feet and is currently in shell condition, while the approximately 800-square-foot garage has three doors and electric service. A new roof was installed in 2025.
Located at 413 Bank St in Lodi, the property is zoned M-U (Multi-Use) and lies within an Opportunity Zone. The site includes approximately 0.2379 acres. The existing improvements provide a retail-oriented building, substantial garage space, and a multi-use zoning designation within the Village of Lodi.
Located at 413 Bank St in Lodi, the property is zoned M-U (Multi-Use) and lies within an Opportunity Zone. The site includes approximately 0.2379 acres. The existing improvements provide a retail-oriented building, substantial garage space, and a multi-use zoning designation within the Village of Lodi.
Key Highlights
- Approximately 1,872 SF of total improvements
- Approximately 1,072 SF retail/office building in shell condition
- Approximately 800 SF garage with three doors and electric
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
$7,429
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
5.94%
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%
$148,580
$148.6K
Cap Rate 7%
$106,129
$106.1K
Cap Rate 9%
$82,544
$82.5K
Market Conditions
NOI Build-Up for 1,872 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
$11.0K $5.88/SF
− Vacancy
−$394 −$0.21/SF
EGI
$10.6K $5.67/SF
− OpEx
−$3.2K −$1.70/SF
NOI
$7.4K $3.97/SF
Area
Medina County, OH
Vacancy
3.58%
Lease Rate
$5.88 /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%
$148,580
Cap Rate 7%
$106,129
Cap Rate 9%
$82,544
Alternative Uses
Best Use
Office B
$327.9K
$286.9K – $382.5K
NOI $22,950 @ 7.0% cap · market cap 18.36%
Second Best
Retail
$106.1K
$92.9K – $123.8K
NOI $7,429 @ 7.0% cap · market cap 5.94%
Theoretical Best
Specialty Retail
$522.2K
$456.9K – $609.2K
NOI $36,551 @ 7.0% cap · market cap 29.24%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
203
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 44254, OH
4,784
Population
2,174
Households
2.2
Avg Household Size
46
Median Age
11%
College-Educated
89%
High-School Grad
26.0 sq mi
ZIP Area
184
Density / Sq Mi
$64,511
Median Household Income
$38,120
Median Earnings
$818
Median Rent
$185,700
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?
Storefront property - The property carries M-U (Multi-Use) zoning in the Village of Lodi.
Where is this storefront property located?
The property is located at 413 Bank St Lodi, OH.
What is the asking price?
The asking price for this property is $125,000.
What are key features of this property?
This property features: Approximately 1,872 SF of total improvements; Approximately 1,072 SF retail/office building in shell condition; Approximately 800 SF garage with three doors and electric
