Mixed-Use Property with
For Sale
$1,100,000
56 W Main Street, Shelby, OH 44875
Office, residential, and retail components occupy a downtown Shelby building undergoing renovation.
Property Size4,800 SF
Price / SF$229.17
Days on Market94
Property Features for 56 W Main Street
General Information
Standard status
Active
Size
4,800 SF
Property subtype
Office
Additional Details
Mixed-Use Components
office, residential, retail
Multifamily Units
9
Building Details
Year Built
1920
Listing Agency:
Live Well Home Group
Listed By:
Amber Herbster
(614) 300-5326
Source:
Livewellhomegrp
Added: Jul 29
Changed: Oct 28
Last Checked: Oct 28 at 2:50PM
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 Live Well Home Group
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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.
This 4,800-square-foot mixed-use property at 56 W Main Street in Shelby was built in 1920 and is undergoing renovation. Its office component includes 10+ offices, a reception area, a full kitchen, a lunchroom, two bathrooms, and a large conference room with a wet bar. The second floor contains nine apartments, and the property also has two retail spaces.
One retail space together with an apartment may be sold separately. The property is located in downtown Shelby, Ohio.
One retail space together with an apartment may be sold separately. The property is located in downtown Shelby, Ohio.
Key Highlights
- 4,800‑square‑foot mixed‑use building constructed in 1920
- 10+ offices, reception area, full kitchen, lunchroom, two bathrooms, and conference room with wet bar
- Nine apartments on the second floor
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$47,520
Cap Rate
4.32%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$950,400
$950.4K
Cap Rate 7%
$678,857
$678.9K
Cap Rate 9%
$528,000
$528.0K
Market Conditions
NOI Build-Up for 4,800 SF
Gross rent
$86.4K $18.00/SF
− Vacancy
−$10.4K −$2.16/SF
EGI
$76.0K $15.84/SF
− OpEx
−$28.5K −$5.94/SF
NOI
$47.5K $9.90/SF
Area
Richland 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 Rate 5%
$950,400
Cap Rate 7%
$678,857
Cap Rate 9%
$528,000
Alternative Uses
Best Use
Mixed Use
$678.9K
$594.0K – $792.0K
NOI $47,520 @ 7.0% cap · market cap 4.32%
Second Best
Retail
$662.2K
$579.4K – $772.5K
NOI $46,352 @ 7.0% cap · market cap 4.21%
Theoretical Best
Office A
$965.7K
$845.0K – $1.13M
NOI $67,599 @ 7.0% cap · market cap 6.15%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
9
Residential units
Location Intelligence
Trade Area within ½ mile
265
Businesses Nearby
Explore this area
Business Placement
Demographics for 44875, OH
13,900
Population
6,211
Households
2.2
Avg Household Size
42
Median Age
15%
College-Educated
93%
High-School Grad
81.5 sq mi
ZIP Area
171
Density / Sq Mi
$60,669
Median Household Income
$35,774
Median Earnings
$727
Median Rent
$146,500
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Office, residential, and retail components occupy a downtown Shelby building undergoing renovation.
Where is this mixed-use property located?
The property is located at 56 W Main Street Shelby, OH.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: 4,800‑square‑foot mixed‑use building constructed in 1920; 10+ offices, reception area, full kitchen, lunchroom, two bathrooms, and conference room with wet bar; Nine apartments on the second floor
