Retail Portfolio Investment
For Sale
Contact for pricing
717 READING RD, Mason, OH 45040
Retail property offered for sale as part of a six-property portfolio.
Property Size21,370 SF
Price / SF$190.45
Days on Market62
Property Features for 717 READING RD
General Information
Standard status
Active
Size
21,370 SF
Property subtype
Retail
Occupancy
100%
Net Operating Income
$305,086
Building Details
Year Built
1995
Units
4
Tenancy
Multi
Listing Agency:
Marcus & Millichap - Cleveland
Listed By:
Scott Wiles · License #OH 2005013197
(216) 264-2000
Source:
Crexi
Added: Jul 6
Changed: Aug 16
Last Checked: Sep 3 at 6:46AM
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 Marcus & Millichap - Cleveland
Investment Insights
Based on property information with market context.
The property is a retail asset offered for sale as part of a six-property portfolio. It may be purchased individually or together with the other properties in the portfolio.
Additional details regarding the overall portfolio and terms are available in the offering memorandum (OM).
Additional details regarding the overall portfolio and terms are available in the offering memorandum (OM).
Key Highlights
- Retail property built in 1995
- Offered for sale as part of a six‑property portfolio
- Can be purchased alone or with other properties in the portfolio
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
$208,678
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
5.13%
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%
$4,173,560
$4.2M
Cap Rate 7%
$2,981,114
$3.0M
Cap Rate 9%
$2,318,644
$2.3M
Market Conditions
NOI Build-Up for 21,370 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
$320.6K $15.00/SF
− Vacancy
−$22.4K −$1.05/SF
EGI
$298.1K $13.95/SF
− OpEx
−$89.4K −$4.19/SF
NOI
$208.7K $9.76/SF
Area
Warren County, OH
Vacancy
7.00%
Lease Rate
$15.00 /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%
$4,173,560
Cap Rate 7%
$2,981,114
Cap Rate 9%
$2,318,644
Alternative Uses
Best Use
Retail
$2.98M
$2.61M – $3.48M
NOI $208,678 @ 7.0% cap · market cap 5.13%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.77M
$4.18M – $5.57M
NOI $334,131 @ 7.0% cap · market cap 8.21%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
695
Businesses Nearby
98k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 49%
Dining 48%
Home Improvements & Furnishings 2%
United Dairy Farmers
Shops & Services
24,342 visits/mo
0.3 miles
Culver's
Dining
21,370 visits/mo
0.2 miles
Buffalo Wild Wings
Dining
15,615 visits/mo
0.3 miles
Speedway
Shops & Services
12,055 visits/mo
0.1 miles
Marathon
Shops & Services
5,856 visits/mo
0.4 miles
Demographics for 45040, OH
57,153
Population
21,977
Households
2.6
Avg Household Size
40
Median Age
65%
College-Educated
98%
High-School Grad
28.5 sq mi
ZIP Area
2,005
Density / Sq Mi
$131,803
Median Household Income
$68,422
Median Earnings
$1,691
Median Rent
$403,700
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.
Frequently Asked Questions
What type of property is this?
Retail space - Retail property offered for sale as part of a six-property portfolio.
Where is this retail space located?
The property is located at 717 READING RD Mason, OH.
What is the asking price?
The asking price for this property is $4,070,000.
What are key features of this property?
This property features: Retail property built in 1995; Offered for sale as part of a six‑property portfolio; Can be purchased alone or with other properties in the portfolio
