Updated Triplex with Off-Street
For Sale
$169,900
535 S Wood St, Fremont, OH 43420
Three apartment units feature newer building systems and selected interior improvements.
Property Size1,911 SF
Price / SF$88.91
Days on Market108
Property Features for 535 S Wood St
General Information
Standard status
Active
Size
1,911 SF
Property subtype
Residential Income
Additional Details
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$1,377
Listing Agency:
Howard Hanna - Fremont
(419) 332-4000
Listed By:
Cathy Stotz
Source:
Exprealty
Added: May 16
Changed: Aug 30
Last Checked: Aug 31 at 12:29AM
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 Howard Hanna - Fremont
Investment Insights
Based on property information with market context.
This triplex contains three apartment units totaling 1,911 square feet. Improvements include new furnaces and hot water heaters serving all units, along with a newer roof, bathroom updates, and newer flooring in some areas. The apartments are described as offering comfortable layouts, with off-street parking included on the property.
Key Highlights
- Three‑unit multifamily property totaling 1,911 square feet
- New furnaces and hot water heaters for all units
- Newer roof
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
$14,525
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
8.55%
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%
$290,500
$290.5K
Cap Rate 7%
$207,500
$207.5K
Cap Rate 9%
$161,389
$161.4K
Market Conditions
NOI Build-Up for 1,911 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
$21.8K $11.40/SF
− Vacancy
−$1.0K −$0.54/SF
EGI
$20.8K $10.86/SF
− OpEx
−$6.2K −$3.26/SF
NOI
$14.5K $7.60/SF
Area
Sandusky County, OH
Vacancy
4.75%
Lease Rate
$11.40 /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%
$290,500
Cap Rate 7%
$207,500
Cap Rate 9%
$161,389
Alternative Uses
Best Use
Multifamily LT 5
$207.5K
$181.6K – $242.1K
NOI $14,525 @ 7.0% cap · market cap 8.55%
Second Best
Apartment 5plus
$181.4K
$158.8K – $211.7K
NOI $12,701 @ 7.0% cap · market cap 7.48%
Theoretical Best
Office A
$360.6K
$315.6K – $420.7K
NOI $25,244 @ 7.0% cap · market cap 14.86%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
556
Businesses Nearby
Explore this area
Business Placement
Demographics for 43420, OH
29,332
Population
13,876
Households
2.1
Avg Household Size
43
Median Age
19%
College-Educated
94%
High-School Grad
136.3 sq mi
ZIP Area
215
Density / Sq Mi
$62,802
Median Household Income
$39,779
Median Earnings
$824
Median Rent
$142,400
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Three apartment units feature newer building systems and selected interior improvements.
Where is this triplex located?
The property is located at 535 S Wood St Fremont, OH.
What is the asking price?
The asking price for this property is $169,900.
What are key features of this property?
This property features: Three‑unit multifamily property totaling 1,911 square feet; New furnaces and hot water heaters for all units; Newer roof
