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Building Details

Year Renovated 2025

Buildings 1

Listing Agency: Gerspacher Real Estate Group

Listed By: Sheila Miu · License #OH SAL2022006764 Show Phone

Source: Crexi

Added: May 21 Changed: Oct 3 Last Checked: Oct 14 at 9:54PM

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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.

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 / Yr

$7,429

Cap Rate

5.94%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$148,580 $148.6K

Cap Rate 7%

$106,129 $106.1K

Cap Rate 9%

$82,544 $82.5K

Is this asking price fair?

Market Conditions

NOI Build-Up for 1,872 SF

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 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 (±1% cap)

NOI $22,950 @ 7.0% cap · market cap 18.36%

Second Best

Retail

$106.1K

$92.9K – $123.8K (±1% cap)

NOI $7,429 @ 7.0% cap · market cap 5.94%

Theoretical Best

Specialty Retail

$522.2K

$456.9K – $609.2K (±1% cap)

NOI $36,551 @ 7.0% cap · market cap 29.24%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Storefront properties

Suggested Use

Top Pick Real Estate Agency HVAC Service Law Firm Nail Salon Hair Salon Grocery & Convenience Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

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

13.7% 2019

15.6% 2020

17.1% 2021

18.9% 2022

21% 2023

22% 2024

21.3% 2025

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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 Street 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