4450 Washington Rd, Albany, OH 45710

Building Details

Year Built 1956 More

Stories 1 More

Listing Agency: Team Realty 1st

Listed By: Tonya R Dodd · License #2015000291 Show Phone

Source: Northeastohiolistings

Added: Oct 7 Changed: Nov 7 Last Checked: Nov 7 at 1:57PM

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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 Team Realty 1st

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Review the available facts, identify missing information and prepare questions for the agent.

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Investment Insights

Based on property information with market context.

This 3,004 SF multifamily property in Albany contains six residences in a single-story layout. Each unit has a separate entrance and ground-level access. Built in 1956, the complex also provides off-street parking for residents and visitors.

The property is near US-50, with Athens and Ohio University among the destinations identified nearby. Its setting includes countryside views.

Key Highlights

• Six residential units in a single‑story complex
• 3,004 SF property built in 1956
• Separate entrance and ground‑level access for each unit

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$24,243

Cap Rate

6.73%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$484,860 $484.9K

Cap Rate 7%

$346,329 $346.3K

Cap Rate 9%

$269,367 $269.4K

Is this asking price fair?

Market Conditions

NOI Build-Up for 3,004 SF

Gross rent

$52.3K $17.40/SF

− Vacancy

−$8.2K −$2.73/SF

EGI

$44.1K $14.67/SF

− OpEx

−$19.8K −$6.60/SF

NOI

$24.2K $8.07/SF

Area

Athens County, OH

Vacancy

15.67%

Lease Rate

$17.40 /SF/Yr

Expense Ratio

45.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$484,860

Cap Rate 7%

$346,329

Cap Rate 9%

$269,367

Alternative Uses

Best Use

Apartment 5plus

$346.3K

$303.0K – $404.1K (±1% cap)

NOI $24,243 @ 7.0% cap · market cap 6.73%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$686.1K

$600.3K – $800.4K (±1% cap)

NOI $48,025 @ 7.0% cap · market cap 13.34%

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

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Lease Details

6

Residential units

Yes

Highway access

Location Intelligence

Trade Area within ½ mile

11

Businesses Nearby

Explore this area Business Placement

Demographics for 45710, OH

5,547

Population

2,318

Households

2.4

Avg Household Size

43

Median Age

27%

College-Educated

92%

High-School Grad

97.2 sq mi

ZIP Area

57

Density / Sq Mi

$78,866

Median Household Income

$46,488

Median Earnings

$920

Median Rent

$181,300

Median Home Value

Market

Average Price Trend$/SF for Multifamily properties in Athens County, OH

$94.4 Jul

$153 Aug

$169 Sep

$159 Oct

Properties on Market for Multifamily properties in Athens County

Jul

Aug

Sep

Oct

Vacancy Rate% for Multifamily in Midwest region

6.5% 2022

7.5% 2023

7.8% 2024

8% 2025

Frequently Asked Questions

What type of property is this?

Multifamily property - Each residence has its own entrance and level access from outside.

Where is this multifamily property located?

The property is located at 4450 Washington Rd Albany, OH.

What is the asking price?

The asking price for this property is $360,000.

What are key features of this property?

This property features: Six residential units in a single‑story complex; 3,004 SF property built in 1956; Separate entrance and ground‑level access for each unit