Freestanding Bank
For Sale
$549,000
833 Villa Rd, Springfield, OH 45503
Vacant delivery includes existing furniture and fixtures.
Property Size3,759 SF
Days on Market47
Property Features for 833 Villa Rd
General Information
Standard status
Active
Size
3,759 SF
Total Parking Spaces
25
Property subtype
Office
Additional Details
Furnished
Yes
Building Details
Building Size
3,759 SF
Year Built
1995
Buildings
1
Listing Agency:
Coldwell Banker - Heritage | Springfield
Listed By:
Patrick Williams · License #2020005690
(937) 360-9952
Source:
Cbcworldwide
Added: Sep 16
Changed: Oct 25
Last Checked: Oct 30 at 10:24AM
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 Coldwell Banker - Heritage | Springfield
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This freestanding former bank branch at 833 Villa Road in Springfield, Ohio, was constructed in 1995 and has received recent updates. The property is being offered with vacant delivery and existing furniture and fixtures included, providing a defined commercial facility for continued banking use or another approved purpose.
Key Highlights
- Freestanding former bank branch at 833 Villa Road
- Constructed in 1995
- Recent updates completed
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$50,067
Cap Rate
9.12%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,001,340
$1.0M
Cap Rate 7%
$715,243
$715.2K
Cap Rate 9%
$556,300
$556.3K
Market Conditions
NOI Build-Up for 3,759 SF
Gross rent
$82.4K $21.93/SF
− Vacancy
−$15.7K −$4.17/SF
EGI
$66.8K $17.76/SF
− OpEx
−$16.7K −$4.44/SF
NOI
$50.1K $13.32/SF
Area
Clark County, OH
Vacancy
19.02%
Lease Rate
$21.93 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,001,340
Cap Rate 7%
$715,243
Cap Rate 9%
$556,300
Alternative Uses
Best Use
Specialty Retail
$1.05M
$917.4K – $1.22M
NOI $73,395 @ 7.0% cap · market cap 13.37%
Second Best
Office B
$715.2K
$625.8K – $834.5K
NOI $50,067 @ 7.0% cap · market cap 9.12%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
193
Businesses Nearby
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Business Placement
Demographics for 45503, OH
32,870
Population
15,458
Households
2.1
Avg Household Size
44
Median Age
17%
College-Educated
89%
High-School Grad
17.5 sq mi
ZIP Area
1,878
Density / Sq Mi
$54,561
Median Household Income
$36,761
Median Earnings
$871
Median Rent
$153,100
Median Home Value
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Market
Vacancy Rate% for Office in Midwest region
Frequently Asked Questions
What type of property is this?
Bank - Vacant delivery includes existing furniture and fixtures.
Where is this bank located?
The property is located at 833 Villa Rd Springfield, OH.
What is the asking price?
The asking price for this property is $549,000.
What are key features of this property?
This property features: Freestanding former bank branch at 833 Villa Road; Constructed in 1995; Recent updates completed
