Downtown Retail and
For Sale
$735,000
6800 E Main St, Reynoldsburg, OH 43068
Retail space with heated two-car attached garage and drive-in door, plus walk-in cooler and updated bathroom.
Property Size4,028 SF
Lot Size0.40 Acres
Price / SF$182.47
Days on Market698
Property Features for 6800 E Main St
General Information
Standard status
Active
Size
4,028 SF
Total Parking Spaces
10
Lot size
0.40 Acres
Zoning
EMD
Additional Details
Drive-In Doors
1
Taxes and HOA fees
Annual Taxes
$11,831
Amenities
walk-in cooler
updated bathroom
basement with shelving
attached heated two-car garage
Listing Agency:
Cutler Real Estate
(614) 325-0022
Listed By:
Jeffery W Ruff · License #2003001789
(614) 325-0022
Source:
Exprealty
Added: Oct 3, 2024
Changed: Aug 25
Last Checked: Aug 30 at 11:08PM
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 Cutler Real Estate
Investment Insights
Based on property information with market context.
This downtown building offers a mix of retail space and industrial-style storage. The interior includes a large open retail area, a walk-in cooler, an updated bathroom, and a basement with shelving. An attached industrial and heated two-car garage includes a tall drive-in door, supporting warehousing use.
The property sits on approximately 0.40 acres in downtown Reynoldsburg between Rosehill and Briarcliff Roads, within an area undergoing Main Street redevelopment with new mixed-use and multi-story development.
Site improvements include a newly paved parking lot with 10 striped spaces, along with additional newly paved space that would allow four more parking spaces. The building is described as zoned “EMD, East Main Street District.” Interested parties should refer to the City’s zoning code for the current list of uses in the EMD district.
The property sits on approximately 0.40 acres in downtown Reynoldsburg between Rosehill and Briarcliff Roads, within an area undergoing Main Street redevelopment with new mixed-use and multi-story development.
Site improvements include a newly paved parking lot with 10 striped spaces, along with additional newly paved space that would allow four more parking spaces. The building is described as zoned “EMD, East Main Street District.” Interested parties should refer to the City’s zoning code for the current list of uses in the EMD district.
Key Highlights
- 4,028 SF retail building in the East Main Street District (EMD), zoned "EMD, East Main Street District"
- Spacious interior with large open retail space, walk‑in cooler, updated bathroom, and basement with shelving
- Attached industrial heated 2‑car garage with a tall drive‑in door, suitable for warehousing
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
$53,651
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
7.30%
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%
$1,073,020
$1.1M
Cap Rate 7%
$766,443
$766.4K
Cap Rate 9%
$596,122
$596.1K
Market Conditions
NOI Build-Up for 4,028 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
$78.8K $19.56/SF
− Vacancy
−$2.1K −$0.53/SF
EGI
$76.6K $19.03/SF
− OpEx
−$23.0K −$5.71/SF
NOI
$53.7K $13.32/SF
Area
Franklin County, OH
Vacancy
2.72%
Lease Rate
$19.56 /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%
$1,073,020
Cap Rate 7%
$766,443
Cap Rate 9%
$596,122
Alternative Uses
Best Use
Retail
$766.4K
$670.6K – $894.2K
NOI $53,651 @ 7.0% cap · market cap 7.30%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$821.2K
$718.5K – $958.1K
NOI $57,483 @ 7.0% cap · market cap 7.82%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Drive-in doors
Location Intelligence
Trade Area within ½ mile
718
Businesses Nearby
Explore this area
Business Placement
Demographics for 43068, OH
59,585
Population
25,294
Households
2.4
Avg Household Size
36
Median Age
30%
College-Educated
91%
High-School Grad
19.6 sq mi
ZIP Area
3,040
Density / Sq Mi
$70,451
Median Household Income
$42,327
Median Earnings
$1,214
Median Rent
$225,500
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - Retail space with heated two-car attached garage and drive-in door, plus walk-in cooler and updated bathroom.
Where is this retail space located?
The property is located at 6800 E Main St Reynoldsburg, OH.
What is the asking price?
The asking price for this property is $735,000.
What are key features of this property?
This property features: 4,028 SF retail building in the East Main Street District (EMD), zoned "EMD, East Main Street District"; Spacious interior with large open retail space, walk‑in cooler, updated bathroom, and basement with shelving; Attached industrial heated 2‑car garage with a tall drive‑in door, suitable for warehousing
