Granville Market Business & Real
For Sale
Contact for pricing
484 S Main St, Granville, OH
Established market and real estate in desirable Granville, Ohio.
Property Size29,372 SF
Lot Size6.88 Acres
Price / SF$221.30
Days on Market306
Property Features for 484 S Main St
General Information
Standard status
Active
Size
29,372 SF
Lot size
6.88 Acres
Property subtype
RETAIL
Listing Agency:
SHAI-Hess Commercial Real Estate
(740) 587-7441
Listed By:
Brandon Hess
(740) 587-7441
Source:
Moodyscre
Added: Oct 22, 2025
Changed: Aug 12
Last Checked: Aug 22 at 11:49AM
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 Commercial Real Estate
Investment Insights
Based on property information with market context.
This confidential listing presents a business and real estate opportunity in Granville, Ohio, featuring a well-established market. The offering includes both the business and the real estate. Ross’ Granville Market has a reputation for quality, service, and local charm, with customer loyalty and steady revenue. The property is located on South Main Street, minutes from downtown Granville and Denison University, and benefits from visibility, walkability, and traffic. The real estate includes a retail facility with parking, an efficient layout, and room for growth or reconfiguration. This is a mixed-use asset with potential in Central Ohio.
Key Highlights
- Established, locally beloved market with a strong reputation.
- Includes both the thriving business and real estate.
- Ideally situated on South Main Street with excellent visibility, walkability, and traffic.**
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
$535,257
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
8.23%
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%
$10,705,140
$10.7M
Cap Rate 7%
$7,646,529
$7.6M
Cap Rate 9%
$5,947,300
$5.9M
Market Conditions
NOI Build-Up for 29,372 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
$793.0K $27.00/SF
− Vacancy
−$28.4K −$0.97/SF
EGI
$764.7K $26.03/SF
− OpEx
−$229.4K −$7.81/SF
NOI
$535.3K $18.22/SF
Area
Licking County, OH
Vacancy
3.58%
Lease Rate
$27.00 /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%
$10,705,140
Cap Rate 7%
$7,646,529
Cap Rate 9%
$5,947,300
Alternative Uses
Best Use
Retail
$7.65M
$6.69M – $8.92M
NOI $535,257 @ 7.0% cap · market cap 8.23%
Second Best
Specialty Retail
$1.75M
$1.53M – $2.04M
NOI $122,344 @ 7.0% cap · market cap 1.88%
Theoretical Best
Flex RnD
$23.59M
$20.64M – $27.52M
NOI $1,651,250 @ 7.0% cap · market cap 25.40%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
591
Businesses Nearby
40k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 50%
Groceries 48%
Dining 3%
Ross' Granville Market
Groceries
18,948 visits/mo
0.1 miles
Marathon Petroleum
Shops & Services
11,863 visits/mo
0.3 miles
Park National Bank
Shops & Services
4,469 visits/mo
0.3 miles
Huntington Bank
Shops & Services
3,403 visits/mo
0.3 miles
Whit's Frozen Custard
Dining
1,163 visits/mo
0.3 miles
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Grocery and convenience store - Established market and real estate in desirable Granville, Ohio.
Where is this grocery and convenience store located?
The property is located at 484 S Main St Granville, OH.
What is the asking price?
The asking price for this property is $6,500,000.
What are key features of this property?
This property features: Established, locally beloved market with a strong reputation.; Includes both the thriving business and real estate.; Ideally situated on South Main Street with excellent visibility, walkability, and traffic.**
