Showroom Building on Corner
For Sale
$595,000
702 Charles Street, Galion, OH 44833
COMMERCIAL - Galion, OH
Property Size6,600 SF
Lot Size1.63 Acres
Price / SF$90.15
Days on Market110
Property Features for 702 Charles Street
General Information
Property type
Commercial Sale
Property subtype
Other
Directions
Corner of Charles St and N East Street Galion Ohio
Subdivision
Crawford
Standard status
Active
APN
See agent remarks
Lot size
1.63 Acres
Taxes and HOA fees
Tax Description
See Agent remarks
Tax Annual Amount
2889
Legal Description
See Agent remarks
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas
Building Details
Year built
1958
Listing Agency:
Dream Huge Realty
(419) 528-8260
Listed By:
Jessica Damron
(419) 512-3594
Added: Apr 22
Changed: Aug 4
Last Checked: Aug 9 at 8:06AM
MLS# 9073098
Copyright © 2026 Mansfield Association 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.
A total of 6,600 SF commercial showroom building with showroom and office space, plus a service department, offered as a bundled site across 7 parcels. The property is set on a 1.63-acre lot and was built in 1958.
This highly visible corner location sits at Charles Street and N East Street in Galion, Ohio. In addition to the main building, the offering includes expansive parking located across the street, supporting service operations and customer access.
The property is served by natural gas heat and public sewer. Zoned GI - General Industrial, it may be suitable for a range of industrial and showroom-oriented business uses aligned with the site’s existing layout, including front-of-house sales support and back-of-house service operations.
This highly visible corner location sits at Charles Street and N East Street in Galion, Ohio. In addition to the main building, the offering includes expansive parking located across the street, supporting service operations and customer access.
The property is served by natural gas heat and public sewer. Zoned GI - General Industrial, it may be suitable for a range of industrial and showroom-oriented business uses aligned with the site’s existing layout, including front-of-house sales support and back-of-house service operations.
Key Highlights
- 6,600 total SF showroom building with showroom and office space plus service department
- Corner location at Charles Street and N East Street
- Zoned GI - General Industrial
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
8.23%
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
Office B
$902.9K
$790.0K – $1.05M
NOI $63,202 @ 7.0% cap · market cap 10.62%
Second Best
Retail
$699.5K
$612.1K – $816.1K
NOI $48,965 @ 7.0% cap · market cap 8.23%
Theoretical Best
Specialty Retail
$1.29M
$1.13M – $1.51M
NOI $90,567 @ 7.0% cap · market cap 15.22%
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
156
Businesses Nearby
Under-served
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 Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Showroom - Corner showroom building zoned GI with multiple parcels, showroom and office space, service area, parking, natural gas, and public sewer.
Where is this showroom located?
The property is located at 702 Charles Street Galion, OH.
What is the asking price?
The asking price for this property is $595,000.
What are key features of this property?
This property features: 6,600 total SF showroom building with showroom and office space plus service department; Corner location at Charles Street and N East Street; Zoned GI - General Industrial
