19-Unit Apartment
5319 S Dixie Highway, Cridersville, OH 45806
For Sale
$995,000
Commercial zoning supports a property with both furnished and long-term residential units.
Property Size9,032 SF
Price / SF$110.16
Days on Market9
Property Features for 5319 S Dixie Highway
General Information
Standard status
Size
Property subtype
Zoning
Additional Details
Multifamily Units
Taxes and HOA fees
Annual Taxes
Amenities
true
8
Public
1.652
Off Street,Varies by Unit
Block
9032
Building Details
Building Size
Year Built
Year Renovated
Listing Agency:
CCR Realtors
Listed By:
Joseph Guagenti
Source:
Binkleyre
Added: Oct 30
Changed: Nov 7
Last Checked: Nov 7 at 3:14PM
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 CCR Realtors
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
Built in 1921 and remodeled in 1994, the 9,032-square-foot apartment property contains 19 units. Floorplans include studios, one-bedroom/one-bathroom apartments, and two-bedroom/one-bathroom apartments. Seven units are furnished, while 12 are occupied on a long-term basis. Select apartments have received interior renovations.
Each unit has a window air-conditioning unit and electric heat. The property is zoned Commercial.
Each unit has a window air-conditioning unit and electric heat. The property is zoned Commercial.
Key Highlights
- 19 apartments across 9,032 square feet
- Studio, one‑bedroom/one‑bathroom, and two‑bedroom/one‑bathroom floorplans
- Seven furnished units and 12 long‑term units
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$69,900
Cap Rate
7.03%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,398,000
$1.4M
Cap Rate 7%
$998,571
$998.6K
Cap Rate 9%
$776,667
$776.7K
Market Conditions
NOI Build-Up for 9,032 SF
Gross rent
$140.9K $15.60/SF
− Vacancy
−$13.8K −$1.53/SF
EGI
$127.1K $14.07/SF
− OpEx
−$57.2K −$6.33/SF
NOI
$69.9K $7.74/SF
Area
Allen County, OH
Vacancy
9.80%
Lease Rate
$15.60 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,398,000
Cap Rate 7%
$998,571
Cap Rate 9%
$776,667
Alternative Uses
Best Use
Apartment 5plus
$998.6K
$873.8K – $1.17M
NOI $69,900 @ 7.0% cap · market cap 7.03%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.18M
$1.90M – $2.54M
NOI $152,284 @ 7.0% cap · market cap 15.30%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
19
Residential units
Location Intelligence
Trade Area within ½ mile
16
Businesses Nearby
Explore this area
Business Placement
Demographics for 45806, OH
11,238
Population
4,792
Households
2.3
Avg Household Size
45
Median Age
26%
College-Educated
95%
High-School Grad
62.5 sq mi
ZIP Area
180
Density / Sq Mi
$82,160
Median Household Income
$50,883
Median Earnings
$972
Median Rent
$189,800
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Apartment building - Commercial zoning supports a property with both furnished and long-term residential units.
Where is this apartment building located?
The property is located at 5319 S Dixie Highway Cridersville, OH.
What is the asking price?
The asking price for this property is $995,000.
What are key features of this property?
This property features: 19 apartments across 9,032 square feet; Studio, one‑bedroom/one‑bathroom, and two‑bedroom/one‑bathroom floorplans; Seven furnished units and 12 long‑term units
