Three-Bedroom Multifamily
For Sale
$399,900
68585 Bannock Rd, Saint Clairsville, OH 43950
Multifamily property with a versatile three-bedroom, three-bath layout.
Property Size2,656 SF
Price / SF$150.56
Days on Market27
Property Features for 68585 Bannock Rd
General Information
Standard status
Active
Size
2,656 SF
Property subtype
Residential Income
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$3,088
Listing Agency:
Harvey Goodman, REALTOR
(740) 310-2590
Listed By:
Laney J Ross · License #2006006559
(740) 310-2590
Source:
Exprealty
Added: Jul 31
Changed: Aug 20
Last Checked: Aug 26 at 1:29PM
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 Harvey Goodman, REALTOR
Investment Insights
Based on property information with market context.
This multifamily property offers three bedrooms and three bathrooms within a flexible residential configuration. The layout is suited to a range of occupancy arrangements, including rental use or an owner-occupied setup with additional residential income potential, as described in the property information.
Located near I-70, the property provides access to regional commuting routes. Shopping, dining, schools, and other local amenities are also nearby, adding convenience for residents and supporting the property's residential income profile.
Located near I-70, the property provides access to regional commuting routes. Shopping, dining, schools, and other local amenities are also nearby, adding convenience for residents and supporting the property's residential income profile.
Key Highlights
- Three‑bedroom, three‑bathroom multifamily layout
- Near I‑70 for regional access
- Shopping, dining, schools, and local amenities nearby
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
$15,813
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
3.95%
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%
$316,260
$316.3K
Cap Rate 7%
$225,900
$225.9K
Cap Rate 9%
$175,700
$175.7K
Market Conditions
NOI Build-Up for 2,656 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
$30.9K $11.64/SF
− Vacancy
−$2.2K −$0.81/SF
EGI
$28.8K $10.83/SF
− OpEx
−$12.9K −$4.87/SF
NOI
$15.8K $5.95/SF
Area
Belmont County, OH
Vacancy
7.00%
Lease Rate
$11.64 /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%
$316,260
Cap Rate 7%
$225,900
Cap Rate 9%
$175,700
Alternative Uses
Best Use
Apartment 5plus
$225.9K
$197.7K – $263.6K
NOI $15,813 @ 7.0% cap · market cap 3.95%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$520.7K
$455.6K – $607.4K
NOI $36,446 @ 7.0% cap · market cap 9.11%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
59
Businesses Nearby
Explore this area
Business Placement
Demographics for 43950, OH
16,212
Population
6,683
Households
2.4
Avg Household Size
46
Median Age
25%
College-Educated
91%
High-School Grad
81.7 sq mi
ZIP Area
198
Density / Sq Mi
$73,135
Median Household Income
$25,718
Median Earnings
$916
Median Rent
$212,500
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?
Multifamily property - Multifamily property with a versatile three-bedroom, three-bath layout.
Where is this multifamily property located?
The property is located at 68585 Bannock Rd Saint Clairsville, OH.
What is the asking price?
The asking price for this property is $399,900.
What are key features of this property?
This property features: Three‑bedroom, three‑bathroom multifamily layout; Near I‑70 for regional access; Shopping, dining, schools, and local amenities nearby
