Building Details

Building Size 1,924 SF

Year Built 1950

Listing Agency: Howard Hanna Real Estate Svcs Show Phone

Listed By: Lindsay Higgins Show Phone

Source: Camtaylor

Added: Aug 6 Changed: Aug 20 Last Checked: Aug 22 at 10:41AM

Report an Issue

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 Real Estate Svcs

Investment Insights

Based on property information with market context.

This 1,924-square-foot mixed-use property, built in 1950, combines a leased United States Postal Service space with a two-bedroom, one-bathroom apartment. The postal portion includes a covered porch, concrete parking area, and side entry door installed in 2025. The apartment has a rear yard, detached garage, storage shed, mini-split HVAC added in 2024, water heater replaced in 2022, and rear entry door installed in 2026. The residential occupant is on a month-to-month lease, while the USPS lease is in year 1 of a 5-year term with two additional 5-year renewal options and fixed rate increases.

Property-wide improvements include new roofs and gutters in 2025, new siding on the main structure in 2026, and a new electric panel in 2022. Public water and sewer serve the property. Water is billed through one account, while electric and gas are separately metered. The owner handles taxes, insurance, and landlord maintenance. The property also provides access to I-70.

Key Highlights

• 1,924‑square‑foot mixed‑use property with USPS space and a 2‑bedroom, 1‑bathroom apartment
• USPS lease is in year 1 of a 5‑year term with two additional 5‑year renewal options
• New roofs and gutters in 2025; main structure received new siding in 2026

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

$17,621

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

7.08%

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%

$352,420 $352.4K

Cap Rate 7%

$251,729 $251.7K

Cap Rate 9%

$195,789 $195.8K

Market Conditions

NOI Build-Up for 1,924 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

$33.5K $17.40/SF

− Vacancy

−$1.4K −$0.75/SF

EGI

$32.0K $16.65/SF

− OpEx

−$14.4K −$7.49/SF

NOI

$17.6K $9.16/SF

Area

Licking County, OH

Vacancy

4.30%

Lease Rate

$17.40 /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%

$352,420

Cap Rate 7%

$251,729

Cap Rate 9%

$195,789

Alternative Uses

Best Use

Retail

$500.9K

$438.3K – $584.4K (±1% cap)

NOI $35,062 @ 7.0% cap · market cap 14.08%

Second Best

Mixed Use

$447.2K

$391.3K – $521.8K (±1% cap)

NOI $31,305 @ 7.0% cap · market cap 12.57%

Theoretical Best

Flex RnD

$1.55M

$1.35M – $1.80M (±1% cap)

NOI $108,164 @ 7.0% cap · market cap 43.44%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Property Profile

Current Use

United States Postal ... Post Office Jacksontown Post Office Post Office E & H Pressure ... General Contractor

Suggested Use

Top Pick Plumbing Service Grocery & Convenience Store Kitchen & Bath Showroom Real Estate Agency Computer & Electronic Repair Auto Repair Shop

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

34

Businesses Nearby

Explore this area Business Placement

Demographics for 43030, OH

344

Population

75

Households

4.6

Avg Household Size

41

Median Age

26%

College-Educated

100%

High-School Grad

2.0 sq mi

ZIP Area

172

Density / Sq Mi

$209,861

Median Household Income

$108,750

Median Earnings

$665,000

Median Home Value

Market

Vacancy Rate% for Retail in Midwest region

8% 2020

7.3% 2021

6.5% 2022

6% 2023

5.7% 2024

6.3% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this mixed-use properties located? What is the asking price? Find similar properties ... What are key features of this property?

Ask Rey about this property ...

Frequently Asked Questions

What type of property is this?

Mixed-use property - Two occupied components combine a USPS lease with a residential unit, supporting diversified property use under one roof.

Where is this mixed-use property located?

The property is located at 6686 National Road SE Jacksontown, OH.

What is the asking price?

The asking price for this property is $249,000.

What are key features of this property?

This property features: 1,924‑square‑foot mixed‑use property with USPS space and a 2‑bedroom, 1‑bathroom apartment; USPS lease is in year 1 of a 5‑year term with two additional 5‑year renewal options; New roofs and gutters in 2025; main structure received new siding in 2026