Building Details

Year Built 1979

Buildings 3

Listing Agency: e-Merge Real Estate Excellence c***@e-merge.com Show Phone

Listed By: Cindi Ann Watkins · License #2009002306

Source: Dreamcolumbus

Added: Aug 17 Changed: Aug 31 Last Checked: Aug 31 at 1:35AM

Report an Issue

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 e-Merge Real Estate Excellence

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 = 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

$16,638

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

5.55%

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%

$332,760 $332.8K

Cap Rate 7%

$237,686 $237.7K

Cap Rate 9%

$184,867 $184.9K

Market Conditions

NOI Build-Up for 1,432 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

$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 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%

$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 5.55%

Second Best

Mixed Use

$195.5K

$171.0K – $228.1K (±1% cap)

NOI $13,683 @ 7.0% cap · market cap 4.56%

Theoretical Best

Warehouse

$288.6K

$252.6K – $336.7K (±1% cap)

NOI $20,204 @ 7.0% cap · market cap 6.73%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Property Profile

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

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this mixed-use properties located? What is the asking price? Find similar properties ... What are key features of this property?

Ask Rey about this property ...

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 $300,000.

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