Automotive Property with Service
For Sale
$795,500
702 Charles Street, Galion, OH 44833
The site includes showroom, office, service, and parking areas.
Property Size6,600 SF
Lot Size1.63 Acres
Price / SF$120.53
Days on Market129
Property Features for 702 Charles Street
General Information
Standard status
Active
Size
6,600 SF
Lot size
1.63 Acres
Property subtype
Commercial
Zoning
GI
Site & Location
Corner Location
Yes
Road Access
Yes
Taxes and HOA fees
Annual Taxes
$2,888
Building Details
Building Size
6,600 SF
Listing Agency:
Dream Huge Realty
(419) 512-3594
Listed By:
Jessica Lynn Damron
(419) 512-3594
Source:
Carolgoffrealestate
Added: Apr 24
Changed: Aug 30
Last Checked: Aug 25 at 9:11AM
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 Dream Huge Realty
Investment Insights
Based on property information with market context.
This automotive property comprises a 6,600-square-foot main building with showroom and office areas, plus a separate service department and expansive parking. The improvements date to 1958, and the offering includes seven parcels totaling 1.63 acres. The property previously operated as a car dealership.
Positioned at the corner of Charles Street and N East Street in Galion, Ohio, the site combines a prominent corner setting with direct street access. GI—General Industrial zoning applies to the property, providing a defined land-use designation for the existing commercial site.
Positioned at the corner of Charles Street and N East Street in Galion, Ohio, the site combines a prominent corner setting with direct street access. GI—General Industrial zoning applies to the property, providing a defined land-use designation for the existing commercial site.
Key Highlights
- 6,600‑square‑foot main building with showroom and office areas
- Separate service department included with the property
- Seven parcels totaling 1.63 acres
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
$48,965
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
6.16%
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%
$979,300
$979.3K
Cap Rate 7%
$699,500
$699.5K
Cap Rate 9%
$544,056
$544.1K
Market Conditions
NOI Build-Up for 6,600 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
$72.9K $11.04/SF
− Vacancy
−$2.9K −$0.44/SF
EGI
$69.9K $10.60/SF
− OpEx
−$21.0K −$3.18/SF
NOI
$49.0K $7.42/SF
Area
Crawford County, OH
Vacancy
4.00%
Lease Rate
$11.04 /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%
$979,300
Cap Rate 7%
$699,500
Cap Rate 9%
$544,056
Alternative Uses
Best Use
Retail
$699.5K
$612.1K – $816.1K
NOI $48,965 @ 7.0% cap · market cap 6.16%
Second Best
Industrial
$387.4K
$339.0K – $452.0K
NOI $27,121 @ 7.0% cap · market cap 3.41%
Theoretical Best
Specialty Retail
$1.29M
$1.13M – $1.51M
NOI $90,567 @ 7.0% cap · market cap 11.38%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
280
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 44833, OH
16,786
Population
8,278
Households
2
Avg Household Size
44
Median Age
16%
College-Educated
91%
High-School Grad
90.4 sq mi
ZIP Area
186
Density / Sq Mi
$57,234
Median Household Income
$39,535
Median Earnings
$772
Median Rent
$127,700
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- U-Haul Neighborhood Dealer — 501 Harding Way E, Galion, OH 44833
- U-Haul Neighborhood Dealer — 7435 State Rte 61, Galion, OH 44833
Frequently Asked Questions
What type of property is this?
Automotive property - The site includes showroom, office, service, and parking areas.
Where is this automotive property located?
The property is located at 702 Charles Street Galion, OH.
What is the asking price?
The asking price for this property is $795,500.
What are key features of this property?
This property features: 6,600‑square‑foot main building with showroom and office areas; Separate service department included with the property; Seven parcels totaling 1.63 acres
