Spa and Wellness
For Sale
Contact for pricing
458 W Market Street, Tiffin, OH 44883
Established salon property with a flexible layout suited to wellness, medical, retail, or professional office use.
Property Size2,000 SF
Price / SF$151.75
Days on Market11
Property Features for 458 W Market Street
General Information
Standard status
Active
Size
2,000 SF
Property subtype
Special Purpose
Additional Details
Business Included
Yes
Building Details
Year Built
1965
Buildings
1
Building Size
2,000 SF
Owner Occupied
Yes
Listing Agency:
Century 21 Bolte Real Estate Tiffin
Listed By:
Marcia Shockley · License #OH
Source:
Crexi
Added: Aug 1
Changed: Aug 11
Last Checked: Aug 11 at 3:54AM
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 Century 21 Bolte Real Estate Tiffin
Investment Insights
Based on property information with market context.
This 1,944-square-foot commercial building has operated as a beauty salon since 1999 and previously served as a medical office. Its existing layout supports continued salon operations while also accommodating wellness, healthcare, boutique retail, or professional office use, subject to applicable requirements.
The property occupies a corner location along a high-traffic thoroughfare, with visibility and accessibility identified as notable site characteristics. Built in 1965, the building offers an established commercial setting for an owner-user or operator seeking a spa and wellness-oriented property with prior salon and medical-office functionality.
The property occupies a corner location along a high-traffic thoroughfare, with visibility and accessibility identified as notable site characteristics. Built in 1965, the building offers an established commercial setting for an owner-user or operator seeking a spa and wellness-oriented property with prior salon and medical-office functionality.
Key Highlights
- 1,944‑square‑foot commercial building
- Beauty salon operation established in 1999
- Previously used as a medical office
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
$24,136
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
8.18%
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%
$482,720
$482.7K
Cap Rate 7%
$344,800
$344.8K
Cap Rate 9%
$268,178
$268.2K
Market Conditions
NOI Build-Up for 1,944 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
$42.0K $21.60/SF
− Vacancy
−$1.8K −$0.91/SF
EGI
$40.2K $20.69/SF
− OpEx
−$16.1K −$8.28/SF
NOI
$24.1K $12.42/SF
Area
Seneca County, OH
Vacancy
4.20%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
40.00%
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%
$482,720
Cap Rate 7%
$344,800
Cap Rate 9%
$268,178
Alternative Uses
Best Use
Healthcare Medical
$344.8K
$301.7K – $402.3K
NOI $24,136 @ 7.0% cap · market cap 8.18%
Second Best
Office B
$301.4K
$263.8K – $351.7K
NOI $21,100 @ 7.0% cap · market cap 7.15%
Theoretical Best
Office A
$412.2K
$360.7K – $480.9K
NOI $28,856 @ 7.0% cap · market cap 9.78%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
481
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 44883, OH
28,690
Population
12,823
Households
2.2
Avg Household Size
40
Median Age
27%
College-Educated
94%
High-School Grad
164.9 sq mi
ZIP Area
174
Density / Sq Mi
$62,497
Median Household Income
$37,000
Median Earnings
$831
Median Rent
$152,600
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Opal Moon Esthetics — 674 Miami St A, Tiffin, OH 44883
Frequently Asked Questions
What type of property is this?
Spa & wellness property - Established salon property with a flexible layout suited to wellness, medical, retail, or professional office use.
Where is this spa & wellness property located?
The property is located at 458 W Market Street Tiffin, OH.
What is the asking price?
The asking price for this property is $295,000.
What are key features of this property?
This property features: 1,944‑square‑foot commercial building; Beauty salon operation established in 1999; Previously used as a medical office
