Building Details

Building Size 4,736 SF

Year Built 1900

Tenancy Multi

Listing Agency: BHHS Metro & Fields Realty

Listed By: Dustin A Hurst · License #2004001827 Show Phone

Source: Camtaylor

Added: Jun 24 Changed: Oct 4 Last Checked: Oct 16 at 3:03PM

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Investment Insights

Based on property information with market context.

This mixed-use property, built in 1900, brings together a fitness business, professional office space, and residential units under one roof. The gym component includes existing equipment and current memberships. A separate first-floor office has been modernized with a kitchenette and bathroom, while both ground-level areas provide access from Main Street and the rear alley.

The upper level contains two updated apartments, each arranged with two bedrooms and one full bathroom. Large windows face Main Street, and residents share a hallway laundry area with coin-operated equipment. The property is located in Downtown Mechanicsburg at 9-11 S Main Street.

Key Highlights

• Current fitness memberships and existing gym equipment included
• Updated first‑floor office with kitchenette and bathroom
• Two updated apartments, each with 2 bedrooms and 1 full bath

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$15,854

Cap Rate

3.52%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$317,080 $317.1K

Cap Rate 7%

$226,486 $226.5K

Cap Rate 9%

$176,156 $176.2K

Is this asking price fair?

Market Conditions

NOI Build-Up for 4,736 SF

Gross rent

$27.8K $5.86/SF

− Vacancy

−$2.4K −$0.50/SF

EGI

$25.4K $5.36/SF

− OpEx

−$9.5K −$2.01/SF

NOI

$15.9K $3.35/SF

Area

Champaign County, OH

Vacancy

8.60%

Lease Rate

$5.86 /SF/Yr

Expense Ratio

37.50%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$317,080

Cap Rate 7%

$226,486

Cap Rate 9%

$176,156

Alternative Uses

Best Use

Office B

$813.9K

$712.2K – $949.6K (±1% cap)

NOI $56,974 @ 7.0% cap · market cap 12.66%

Second Best

Mixed Use

$226.5K

$198.2K – $264.2K (±1% cap)

NOI $15,854 @ 7.0% cap · market cap 3.52%

Theoretical Best

Specialty Retail

$1.32M

$1.16M – $1.54M (±1% cap)

NOI $92,471 @ 7.0% cap · market cap 20.55%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Current Use

Fitness centers & gyms

Suggested Use

Top Pick HVAC Service Law Firm Hair Salon Bakery Garden Center (Bike/Boat/Book/etc) Store

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

Lease Details

1

Office units

2

Residential units

Multi-tenant

Tenancy

Turnkey business

Opportunity

Yes

Paved road access

Location Intelligence

Trade Area within ½ mile

148

Businesses Nearby

Explore this area Business Placement

Demographics for 43044, OH

5,352

Population

2,054

Households

2.6

Avg Household Size

41

Median Age

16%

College-Educated

94%

High-School Grad

79.5 sq mi

ZIP Area

67

Density / Sq Mi

$68,141

Median Household Income

$40,910

Median Earnings

$797

Median Rent

$215,000

Median Home Value

Market

Vacancy Rate% for Office in Midwest region

13.7% 2019

15.6% 2020

17.1% 2021

18.9% 2022

21% 2023

22% 2024

21.3% 2025

Frequently Asked Questions

What type of property is this?

Mixed-use property - Includes gym equipment and memberships, an updated office suite, and two apartments.

Where is this mixed-use property located?

The property is located at 9-11 S Main Street Mechanicsburg, OH.

What is the asking price?

The asking price for this property is $449,900.

What are key features of this property?

This property features: Current fitness memberships and existing gym equipment included; Updated first‑floor office with kitchenette and bathroom; Two updated apartments, each with 2 bedrooms and 1 full bath