Four-Unit Business-Zoned Office
For Sale
$380,000
4445 East Pike, Zanesville, OH 43701
Business zoning supports a multi-suite office configuration.
Property Size2,472 SF
Price / SF$153.72
Days on Market52
Property Features for 4445 East Pike
General Information
Standard status
Active
Size
2,472 SF
Class
B
Property subtype
Office
Additional Details
Office Units
4
Building Details
Building Size
2,472 SF
Year Built
1940
Buildings
1
Tenancy
Multi
Listing Agency:
Shai-Hess Commerical Real Estate, LLC
(740) 819-8557
Listed By:
Nick Roberts · License #2005015521
(740) 819-8557
Source:
Shai-hess
Added: Jul 10
Changed: Aug 29
Last Checked: Aug 26 at 5:19AM
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 Shai-Hess Commerical Real Estate, LLC
Investment Insights
Based on property information with market context.
Located at 4445 East Pike in Zanesville, this 2,472-square-foot business-zoned property is arranged as four separate units. The configuration supports use as a multi-tenant office or service-oriented building, with the flexibility to combine occupancy and leasing within the same asset.
The unit layout offers options for an owner-user, multiple occupants, or an investor seeking a small commercial property with several leasable spaces. Its manageable scale and four-unit design provide a practical framework for professional or service-based operations, subject to applicable requirements.
The unit layout offers options for an owner-user, multiple occupants, or an investor seeking a small commercial property with several leasable spaces. Its manageable scale and four-unit design provide a practical framework for professional or service-based operations, subject to applicable requirements.
Key Highlights
- 2,472 SF business‑zoned building
- Four total units in a multi‑tenant configuration
- Suitable for office or service‑oriented use
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
$27,766
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
7.31%
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%
$555,320
$555.3K
Cap Rate 7%
$396,657
$396.7K
Cap Rate 9%
$308,511
$308.5K
Market Conditions
NOI Build-Up for 2,472 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
$47.5K $19.20/SF
− Vacancy
−$10.4K −$4.22/SF
EGI
$37.0K $14.98/SF
− OpEx
−$9.3K −$3.74/SF
NOI
$27.8K $11.23/SF
Area
Muskingum County, OH
Vacancy
22.00%
Lease Rate
$19.20 /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%
$555,320
Cap Rate 7%
$396,657
Cap Rate 9%
$308,511
Alternative Uses
Best Use
Office B
$396.7K
$347.1K – $462.8K
NOI $27,766 @ 7.0% cap · market cap 7.31%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$536.5K
$469.5K – $626.0K
NOI $37,557 @ 7.0% cap · market cap 9.88%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Office units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
46
Businesses Nearby
Explore this area
Business Placement
Demographics for 43701, OH
55,361
Population
25,785
Households
2.1
Avg Household Size
42
Median Age
18%
College-Educated
90%
High-School Grad
180.5 sq mi
ZIP Area
307
Density / Sq Mi
$54,900
Median Household Income
$34,345
Median Earnings
$819
Median Rent
$164,200
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?
Office units - Business zoning supports a multi-suite office configuration.
Where is this office units located?
The property is located at 4445 East Pike Zanesville, OH.
What is the asking price?
The asking price for this property is $380,000.
What are key features of this property?
This property features: 2,472 SF business‑zoned building; Four total units in a multi‑tenant configuration; Suitable for office or service‑oriented use
