Building Details

Year Built 1979

Buildings 3

Listing Agency: e-Merge Real Estate Excellence

Listed By: Cindi Ann Watkins · License #2009002306 Show Phone

Source: Dreamcolumbus

Added: Aug 17 Changed: Oct 17 Last Checked: Oct 7 at 5:32PM

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Investment Insights

Based on property information with market context.

This mixed-use commercial property includes an updated 3- to 4-bedroom residence, a retail storefront, and a pole barn. The home measures 2,244 square feet, the retail building contains 1,432 square feet, and the pole barn adds 780 square feet of additional space. The property was built in 1979 and is being offered in its existing condition.

The site occupies the corner of Main Street and US 23 in South Bloomfield, with the commercial building at 5002 S. Walnut St. and the residential address at 5003 E. Main St. The property is classified as commercial despite the residential component, cannot be divided, and is offered as a single package.

Key Highlights

• 1,432‑square‑foot retail building included
• Updated 2,244‑square‑foot, 3- to 4‑bedroom residence
• 780‑square‑foot pole barn

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$16,638

Cap Rate

3.17%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$332,760 $332.8K

Cap Rate 7%

$237,686 $237.7K

Cap Rate 9%

$184,867 $184.9K

Is this asking price fair?

Market Conditions

NOI Build-Up for 1,432 SF

Gross rent

$31.3K $21.84/SF

− Vacancy

−$7.5K −$5.24/SF

EGI

$23.8K $16.60/SF

− OpEx

−$7.1K −$4.98/SF

NOI

$16.6K $11.62/SF

Area

Pickaway County, OH

Vacancy

24.00%

Lease Rate

$21.84 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$332,760

Cap Rate 7%

$237,686

Cap Rate 9%

$184,867

Alternative Uses

Best Use

Retail

$237.7K

$208.0K – $277.3K (±1% cap)

NOI $16,638 @ 7.0% cap · market cap 3.17%

Second Best

Mixed Use

$195.5K

$171.0K – $228.1K (±1% cap)

NOI $13,683 @ 7.0% cap · market cap 2.61%

Theoretical Best

Warehouse

$288.6K

$252.6K – $336.7K (±1% cap)

NOI $20,204 @ 7.0% cap · market cap 3.85%

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 Building Supply Hair Salon Grocery & Convenience Store Nail Salon Catering Service Spa & Massage Center

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

Lease Details

Yes

Highway access

Yes

Paved road access

Location Intelligence

Trade Area within ½ mile

102

Businesses Nearby

193k

Monthly Visits Nearby

Explore this area Business Placement

Foot Traffic Nearby

Shops & Services 54% Dining 46%

Sheetz Shops & Services

56,579 visits/mo 0.4 miles

McDonald's Dining

34,774 visits/mo 0.1 miles

Wendy's Dining

21,311 visits/mo 0.2 miles

Speedway Shops & Services

17,995 visits/mo 0.1 miles

Circle K Shops & Services

16,630 visits/mo 0.2 miles

Demographics for 43103, OH

12,282

Population

4,651

Households

2.6

Avg Household Size

38

Median Age

22%

College-Educated

91%

High-School Grad

83.6 sq mi

ZIP Area

147

Density / Sq Mi

$84,304

Median Household Income

$49,724

Median Earnings

$1,052

Median Rent

$236,900

Median Home Value

Market

Vacancy Rate% for Retail in Midwest region

8% 2020

7.3% 2021

6.5% 2022

6% 2023

5.7% 2024

6.3% 2025

Frequently Asked Questions

What type of property is this?

Mixed-use property - Corner commercial property combines an updated residence, retail storefront, and pole barn in one non-divisible offering.

Where is this mixed-use property located?

The property is located at 5002 S Walnut St South Bloomfield, OH.

What is the asking price?

The asking price for this property is $525,000.

What are key features of this property?

This property features: 1,432‑square‑foot retail building included; Updated 2,244‑square‑foot, 3- to 4‑bedroom residence; 780‑square‑foot pole barn