Building Details

Building Size 4,000 SF

Year Built 1984

Listing Agency: NAI Ohio Equities

Listed By: Dan Sheeran · License #2016006190 Show Phone

Source: Ohioequities

Added: Mar 26 Changed: Sep 6 Last Checked: Sep 13 at 8:09AM

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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 NAI Ohio Equities

Investment Insights

Based on property information with market context.

This property features a 4.2-acre corner lot located at the intersection of National Road and York Road. It currently houses a mower sales and repair business that has been operating at this location for 20 years. The property includes an apartment situated above the workshop, as well as a separate 3-bedroom house on York Road. There are two buildings of unspecified size on the premises. The property may be suitable for lot splitting. The building size is 3,825 square feet.

Key Highlights

• High‑traffic corner lot location on National Rd and York Rd.
• 4.2 acre property with potential for lot split.
• Established mower sales & repair business (20 years in location).

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

$44,442

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

2.96%

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%

$888,840 $888.8K

Cap Rate 7%

$634,886 $634.9K

Cap Rate 9%

$493,800 $493.8K

Market Conditions

NOI Build-Up for 3,825 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

$83.5K $21.84/SF

− Vacancy

−$20.0K −$5.24/SF

EGI

$63.5K $16.60/SF

− OpEx

−$19.0K −$4.98/SF

NOI

$44.4K $11.62/SF

Area

Fairfield County, OH

Vacancy

24.00%

Lease Rate

$21.84 /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%

$888,840

Cap Rate 7%

$634,886

Cap Rate 9%

$493,800

Alternative Uses

Best Use

Industrial

$634.9K

$555.5K – $740.7K (±1% cap)

NOI $44,442 @ 7.0% cap · market cap 2.96%

Second Best

Retail

$210.2K

$183.9K – $245.3K (±1% cap)

NOI $14,715 @ 7.0% cap · market cap 0.98%

Theoretical Best

Warehouse

$770.9K

$674.6K – $899.4K (±1% cap)

NOI $53,966 @ 7.0% cap · market cap 3.60%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Open Analytics

Current Use

Smithco Equipment, LLC (Bike/Boat/Book/etc) Store

Suggested Use

Top Pick Real Estate Agency Auto Repair Shop Kitchen & Bath Showroom Hotel & Motel Travel Agency

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

24

Businesses Nearby

Explore this area Business Placement

Demographics for 43062, OH

32,125

Population

11,979

Households

2.7

Avg Household Size

39

Median Age

32%

College-Educated

94%

High-School Grad

74.3 sq mi

ZIP Area

432

Density / Sq Mi

$100,450

Median Household Income

$53,329

Median Earnings

$1,334

Median Rent

$292,100

Median Home Value

Market

Vacancy Rate% for Retail in Midwest region

8% 2020

7.3% 2021

6.5% 2022

6% 2023

5.7% 2024

6.3% 2025

Questions? Ask Rey

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What type of property is this? Where is this retail properties & spaces located? What is the asking price? Find similar properties What are key features of this property?

Frequently Asked Questions

What type of property is this?

Retail property - 4.2 acres with mower sales and repair business.

Where is this retail property located?

The property is located at 7271 National Rd SW Etna, OH.

What is the asking price?

The asking price for this property is $1,500,000.

What are key features of this property?

This property features: High‑traffic corner lot location on National Rd and York Rd.; 4.2 acre property with potential for lot split.; Established mower sales & repair business (20 years in location).