19-Unit Apartment
New
For Sale
$995,000
5319 S Dixie Highway, Cridersville, OH 45806
Residential Income, Cridersville, OH
Property Size9,032 SF
Price / SF$110.16
Days on Market3
Property Features for 5319 S Dixie Highway
General Information
Property type
Residential Multi Family
Property subtype
Single Family Residence
Zoning description
Commercial
Bedrooms
8
Bathrooms
8
Full bathrooms
8
Rooms
Bedroom 6, Bathroom 7, Bathroom 8, Bathroom 4, Bedroom 5, Bathroom 6, Bedroom 4, Bathroom 5, Bedroom 8, Bathroom 1, Bathroom 2, Bedroom 1, Bedroom 3, Bathroom 3, Bedroom 7, Bedroom 2
Parking features
Off Street
Elementary school district
Wapakoneta
Middle school district
Wapakoneta
High school district
Wapakoneta
Standard status
Active
APN
B0503503202
Size
9,032 SF
Taxes and HOA fees
Tax Annual Amount
2795
Utilities
Sewer type
Public Sewer
Heating system
Baseboard
Cooling system
Window Unit(s)
Water source
Public
Amenities
window A/C units
electric heat
Building Details
Year built
1921
Floors in Building
1
Number of units
19
Building materials
Brick
Roof type
Asphalt
Architectural style
Ranch
Listing Agency:
CCR Realtors · Real Living
(419) 222-0555
Listed By:
Joseph Guagenti · License #423909
(419) 230-5050
Added: Sep 21
Changed: Sep 22
Last Checked: Sep 23 at 11:06PM
MLS# 311702
Copyright © 2026 West Central Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 19-unit apartment property in Cridersville includes 9,032 square feet across studio, one-bedroom/one-bath, and two-bedroom/one-bath layouts. Built in 1921 and remodeled in 1994, the ranch-style building has brick construction, an asphalt roof, and a mix of maintained units with select interior updates. Individual apartments use window air-conditioning units and electric baseboard heat.
The property is located at 5319 S Dixie Highway in Auglaize County. Off-street parking serves the building, while public water and public sewer provide utility service. The unit mix and range of floorplans support a diversified apartment configuration within a single multifamily property.
The property is located at 5319 S Dixie Highway in Auglaize County. Off-street parking serves the building, while public water and public sewer provide utility service. The unit mix and range of floorplans support a diversified apartment configuration within a single multifamily property.
Key Highlights
- 19 units totaling 9,032 square feet
- Studio, one‑bedroom/one‑bath, and two‑bedroom/one‑bath floorplans
- Built in 1921; remodeled in 1994
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
$69,900
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
7.03%
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%
$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
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
$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 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%
$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.
Property Analytics
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Open Analytics
Current Use
Lease Details
19
Residential units
Location Intelligence
Trade Area within ½ mile
74
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Midwest region
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Frequently Asked Questions
What type of property is this?
Apartment building - Ranch-style multifamily property with varied floorplans, off-street parking, and public water and sewer service.
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 units totaling 9,032 square feet; Studio, one‑bedroom/one‑bath, and two‑bedroom/one‑bath floorplans; Built in 1921; remodeled in 1994
