Storefront Property with Storage
New
For Sale
$575,000
61 Vine St, Gallipolis, OH 45631
Commercial Building +Business, Gallipolis, OH
Property Size8,172 SF
Lot Size0.58 Acres
Price / SF$70.36
Days on Market2
Property Features for 61 Vine St
General Information
Property type
Residential
Property subtype
Retail
Zoning
Commercial
Interior features
Flooring- Vinyl, Flooring- Concrete
Lot features
Fenced- Part, Gutters & Downspouts, Work Shop, Alarm/ Security System
Directions
On Vine St. at the end of 3rd Ave
Standard status
Active
APN
00705303600, 0070530
Size
8,172 SF
Lot size
0.58 Acres
Taxes and HOA fees
Tax Annual Amount
3507
Utilities
Heating system
Natural Gas, Forced Air
Cooling system
Central Air
Building Details
Year built
1958
Roof type
Built-Up
Listing Agency:
Wiseman Real Estate
(740) 446-3644
Listed By:
David Wiseman · License #284760
(740) 446-3644
Added: Aug 20
Last Checked: Aug 21 at 10:06AM
MLS# 2435424
Copyright © 2026 Athens County Board 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 commercial property includes an 8,172-square-foot storefront building on 0.58 acres, constructed in 1958. The improvements include vinyl and concrete flooring, natural gas forced-air heating, central air conditioning, and a built-up roof. The property formerly housed a True Value Hardware and Lumber Yard business, and the sale may be structured with the business and inventory or with only the buildings and land.
Additional improvements include a 60-by-130-foot multi-use storage building with lumber racks and shelving, a 14-foot shed, and a 48-foot covered lumber area. Other buildings measure 24-by-30 feet, 20-by-30 feet, and 24-by-45 feet. The site also includes five 14-foot doors and 12-by-20-foot doors. Commercial zoning is in place.
Additional improvements include a 60-by-130-foot multi-use storage building with lumber racks and shelving, a 14-foot shed, and a 48-foot covered lumber area. Other buildings measure 24-by-30 feet, 20-by-30 feet, and 24-by-45 feet. The site also includes five 14-foot doors and 12-by-20-foot doors. Commercial zoning is in place.
Key Highlights
- 8,172‑square‑foot commercial property on 0.58 acres
- 60‑by‑130‑foot multi‑use storage building with lumber racks and shelving
- Additional buildings measure 24‑by‑30, 20‑by‑30, and 24‑by‑45 feet
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
$40,776
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
7.09%
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%
$815,520
$815.5K
Cap Rate 7%
$582,514
$582.5K
Cap Rate 9%
$453,067
$453.1K
Market Conditions
NOI Build-Up for 8,172 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
$52.4K $6.41/SF
− Vacancy
−$4.4K −$0.54/SF
EGI
$48.0K $5.87/SF
− OpEx
−$7.2K −$0.88/SF
NOI
$40.8K $4.99/SF
Area
Gallia County, OH
Vacancy
8.42%
Lease Rate
$6.41 /SF/Yr
Expense Ratio
15.00%
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%
$815,520
Cap Rate 7%
$582,514
Cap Rate 9%
$453,067
Alternative Uses
Best Use
Retail
$1.34M
$1.17M – $1.57M
NOI $93,986 @ 7.0% cap · market cap 16.35%
Second Best
Warehouse
$582.5K
$509.7K – $679.6K
NOI $40,776 @ 7.0% cap · market cap 7.09%
Theoretical Best
Office A
$1.65M
$1.44M – $1.92M
NOI $115,224 @ 7.0% cap · market cap 20.04%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
314
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 45631, OH
14,200
Population
6,328
Households
2.2
Avg Household Size
43
Median Age
19%
College-Educated
87%
High-School Grad
114.6 sq mi
ZIP Area
124
Density / Sq Mi
$54,772
Median Household Income
$36,382
Median Earnings
$807
Median Rent
$138,700
Median Home Value
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Basket Delights Florist & Gifts — 66 Vine St, Gallipolis, OH 45631
- Floral Fashions — 244 3rd Ave, Gallipolis, OH 45631
Frequently Asked Questions
What type of property is this?
Storefront property - Commercial zoning, multiple accessory buildings, natural gas heat, central air, and mixed flooring support the existing retail-oriented property.
Where is this storefront property located?
The property is located at 61 Vine St Gallipolis, 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: 8,172‑square‑foot commercial property on 0.58 acres; 60‑by‑130‑foot multi‑use storage building with lumber racks and shelving; Additional buildings measure 24‑by‑30, 20‑by‑30, and 24‑by‑45 feet
