Mixed-Use Property with Retail
For Sale
$875,000
8724 Us Highway 68 N, West Liberty, OH 43357
Retail barn, supplemental storefront, and two residences create a flexible commercial and live-work configuration.
Property Size10,136 SF
Lot Size2.47 Acres
Days on Market52
Property Features for 8724 Us Highway 68 N
General Information
Standard status
Active
Size
10,136 SF
Lot size
2.47 Acres
Property subtype
Commercial
Zoning
B-1
Taxes and HOA fees
Annual Taxes
$5,035
Building Details
Building Size
10,136 SF
Year Built
1995
Buildings
3
Units
3
Listing Agency:
ROYER REALTY LLC
(419) 852-8392
Listed By:
Bryn L Daring-Stewart
Source:
Honnerlawrealestate
Added: Jul 9
Changed: Aug 28
Last Checked: Aug 25 at 9:18AM
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 ROYER REALTY LLC
Investment Insights
Based on property information with market context.
This mixed-use property combines a 6,992 SF retail barn with a 960 SF commercial storefront addition and two separate residences. The barn includes retail space, a half bath, pellet stove, heat pump, upper-level walkout, work room, washtub, and foam insulation. The added storefront, completed in 1996, has its own entrance and designated parking. The barn roof was seal-coated in 2021, and business inventory is excluded from the sale.
The 2.469-acre property at 8724 US Highway 68 N includes blacktop and gravel parking for approximately 20+ vehicles, a storage shed, an owned propane tank serving the building, and a leased buried propane tank. One residence is a 2-bedroom, 2-bath modular home built in 1995 with updated flooring, paint, and kitchen appliances from 2023, plus a laundry room, covered rear porch, fenced yard, and private main-suite bath. The second is a 2-bedroom, 2-bath manufactured home built in 1982 with updated windows, pantry, propane furnace, and front and rear porches. The property is zoned B-1 and lies within the West Liberty-Salem School District.
The 2.469-acre property at 8724 US Highway 68 N includes blacktop and gravel parking for approximately 20+ vehicles, a storage shed, an owned propane tank serving the building, and a leased buried propane tank. One residence is a 2-bedroom, 2-bath modular home built in 1995 with updated flooring, paint, and kitchen appliances from 2023, plus a laundry room, covered rear porch, fenced yard, and private main-suite bath. The second is a 2-bedroom, 2-bath manufactured home built in 1982 with updated windows, pantry, propane furnace, and front and rear porches. The property is zoned B-1 and lies within the West Liberty-Salem School District.
Key Highlights
- 6,992 SF retail barn with a 960 SF storefront addition
- 2.469‑acre mixed‑use property with two residences
- Addition completed in 1996 has separate entrance and designated parking
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
$43,034
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
4.92%
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%
$860,680
$860.7K
Cap Rate 7%
$614,771
$614.8K
Cap Rate 9%
$478,156
$478.2K
Market Conditions
NOI Build-Up for 10,136 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
$65.7K $6.48/SF
− Vacancy
−$4.2K −$0.41/SF
EGI
$61.5K $6.07/SF
− OpEx
−$18.4K −$1.82/SF
NOI
$43.0K $4.25/SF
Area
Butler County, OH
Vacancy
6.40%
Lease Rate
$6.48 /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%
$860,680
Cap Rate 7%
$614,771
Cap Rate 9%
$478,156
Alternative Uses
Best Use
Office B
$1.65M
$1.44M – $1.92M
NOI $115,435 @ 7.0% cap · market cap 13.19%
Second Best
Retail
$614.8K
$537.9K – $717.2K
NOI $43,034 @ 7.0% cap · market cap 4.92%
Theoretical Best
Office A
$2.00M
$1.75M – $2.34M
NOI $140,286 @ 7.0% cap · market cap 16.03%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
150
Businesses Nearby
Explore this area
Business Placement
Demographics for 43357, OH
4,848
Population
1,732
Households
2.8
Avg Household Size
45
Median Age
24%
College-Educated
93%
High-School Grad
68.0 sq mi
ZIP Area
71
Density / Sq Mi
$86,392
Median Household Income
$48,419
Median Earnings
$687
Median Rent
$215,400
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?
Mixed-use property - Retail barn, supplemental storefront, and two residences create a flexible commercial and live-work configuration.
Where is this mixed-use property located?
The property is located at 8724 Us Highway 68 N West Liberty, OH.
What is the asking price?
The asking price for this property is $875,000.
What are key features of this property?
This property features: 6,992 SF retail barn with a 960 SF storefront addition; 2.469‑acre mixed‑use property with two residences; Addition completed in 1996 has separate entrance and designated parking
