Auto Shop With
For Sale
$595,000
702 Charles Street, Galion, OH 44833
Auto Service,Business Service,Industrial,Professional/Office,Other, Galion, OH
Property Size6,600 SF
Lot Size1.63 Acres
Price / SF$90.15
Days on Market155
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: Sep 7
Last Checked: Sep 23 at 7:06PM
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.
This 6,600-square-foot auto shop property includes a main building arranged with showroom and office areas, along with a dedicated service department. The offering spans 1.63 acres across 7 parcels and includes expansive parking positioned across the street. Constructed in 1958, the property is heated by natural gas and served by public sewer.
The site occupies the corner of Charles Street and N East Street in Galion, Ohio, providing access from two streets. GI-General Industrial zoning supports the property's existing automotive configuration and offers a broad industrial setting for continued commercial use.
The site occupies the corner of Charles Street and N East Street in Galion, Ohio, providing access from two streets. GI-General Industrial zoning supports the property's existing automotive configuration and offers a broad industrial setting for continued commercial use.
Key Highlights
- 6,600 total sq ft commercial property
- 1.63‑acre site comprising 7 parcels
- Main building includes showroom and office space
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
Retail
$699.5K
$612.1K – $816.1K
NOI $48,965 @ 7.0% cap · market cap 8.23%
Second Best
Industrial
$387.4K
$339.0K – $452.0K
NOI $27,121 @ 7.0% cap · market cap 4.56%
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
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Open Analytics
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
280
Businesses Nearby
Well-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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Midwest region
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Similar Off Market Nearby
- Piper's Collision Center — 374 S Market St, Galion, OH 44833
- American Iron — 322 S Market St, Galion, OH 44833
- Ruhls Diesel Service — 200 South St, Galion, OH 44833
- Galion Tire Shop — 200 South St, Galion, OH 44833
- Greasers 501 — 501 Harding Way E, Galion, OH 44833
Frequently Asked Questions
What type of property is this?
Auto shop - Corner commercial property with showroom, offices, service facilities, and GI-General Industrial zoning.
Where is this auto shop 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 sq ft commercial property; 1.63‑acre site comprising 7 parcels; Main building includes showroom and office space
