Mixed-Use Building with
For Sale
$449,900
Pending
9-11 S Main Street, Mechanicsburg, OH 43044
Includes gym equipment and memberships, an updated office suite, and two apartments.
Property Size4,736 SF
Days on Market94
Property Features for 9-11 S Main Street
General Information
Standard status
Pending
Size
4,736 SF
Property subtype
Mixed Use
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Office Units
1
Additional Details
Business Included
Yes
Road Access
Yes
Taxes and HOA fees
Annual Taxes
$3,366
Amenities
coin use washer and dryer
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
(937) 869-0970
Source:
Camtaylor
Added: Jun 24
Changed: Sep 18
Last Checked: Sep 24 at 5:38PM
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 BHHS Metro & Fields Realty
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.
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 = 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
$15,854
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
3.52%
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%
$317,080
$317.1K
Cap Rate 7%
$226,486
$226.5K
Cap Rate 9%
$176,156
$176.2K
Market Conditions
NOI Build-Up for 4,736 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
$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 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%
$317,080
Cap Rate 7%
$226,486
Cap Rate 9%
$176,156
Alternative Uses
Best Use
Office B
$813.9K
$712.2K – $949.6K
NOI $56,974 @ 7.0% cap · market cap 12.66%
Second Best
Mixed Use
$226.5K
$198.2K – $264.2K
NOI $15,854 @ 7.0% cap · market cap 3.52%
Theoretical Best
Specialty Retail
$1.32M
$1.16M – $1.54M
NOI $92,471 @ 7.0% cap · market cap 20.55%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
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
Questions? Ask Rey
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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
