Lancaster Mixed-Use Investment
For Sale
Contact for pricing
530-532 N Columbus Street, Lancaster, OH 43130
Turnkey mixed-use building with bar and renovated apartments.
Property Size4,960 SF
Price / SF$115.93
Days on Market191
Property Features for 530-532 N Columbus Street
General Information
Standard status
Active
Size
4,960 SF
Total Parking Spaces
8
Property subtype
Mixed Use, Retail
Building Details
Year Built
1900
Year Renovated
2026
Stories
2
Listing Agency:
RE/MAX Apex
(614) 592-4164
Listed By:
Dylan Knecht · License #2016003306
Source:
Crexi
Added: Feb 11
Changed: Aug 21
Last Checked: Aug 20 at 10:20PM
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 RE/MAX Apex
Investment Insights
Based on property information with market context.
This mixed-use building in Lancaster offers a main level neighborhood bar and two renovated apartments. The bar has a long operating history and established layout. Upstairs are a spacious two-bedroom unit and a stylish one-bedroom unit, both featuring updated interiors with exposed elements and contemporary touches. A private parking lot is located at the rear of the building. The property offers versatility, charm, and upside potential for investors seeking diversified income streams or owner-operators looking to control their business and real estate.
Key Highlights
- Turnkey mixed‑use building with established bar and renovated apartments.
- Strong cash flow potential from both commercial and residential units.
- Two renovated apartments with high‑end industrial finishes.
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
$49,104
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
8.54%
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%
$982,080
$982.1K
Cap Rate 7%
$701,486
$701.5K
Cap Rate 9%
$545,600
$545.6K
Market Conditions
NOI Build-Up for 4,960 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
$89.3K $18.00/SF
− Vacancy
−$10.7K −$2.16/SF
EGI
$78.6K $15.84/SF
− OpEx
−$29.5K −$5.94/SF
NOI
$49.1K $9.90/SF
Area
Fairfield County, OH
Vacancy
12.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
37.50%
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%
$982,080
Cap Rate 7%
$701,486
Cap Rate 9%
$545,600
Alternative Uses
Best Use
Mixed Use
$701.5K
$613.8K – $818.4K
NOI $49,104 @ 7.0% cap · market cap 8.54%
Second Best
Specialty Retail
$299.4K
$262.0K – $349.3K
NOI $20,956 @ 7.0% cap · market cap 3.64%
Theoretical Best
Warehouse
$999.7K
$874.7K – $1.17M
NOI $69,979 @ 7.0% cap · market cap 12.17%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,440
Businesses Nearby
Explore this area
Business Placement
Demographics for 43130, OH
62,010
Population
26,434
Households
2.3
Avg Household Size
41
Median Age
23%
College-Educated
92%
High-School Grad
164.5 sq mi
ZIP Area
377
Density / Sq Mi
$68,242
Median Household Income
$43,936
Median Earnings
$1,031
Median Rent
$215,900
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Turnkey mixed-use building with bar and renovated apartments.
Where is this mixed-use property located?
The property is located at 530-532 N Columbus Street Lancaster, OH.
What is the asking price?
The asking price for this property is $575,000.
What are key features of this property?
This property features: Turnkey mixed‑use building with established bar and renovated apartments.; Strong cash flow potential from both commercial and residential units.; Two renovated apartments with high‑end industrial finishes.
