Nelsonville Multifamily Investment
For Sale
Contact for pricing
106 E Franklin Street, Nelsonville, OH 45764
Three-unit complex near downtown Nelsonville with income potential.
Property Size1,300 SF
Price / SF$174.08
Days on Market670
Property Features for 106 E Franklin Street
General Information
Standard status
Active
Size
1,300 SF
Property subtype
Multifamily, Mixed Use
Building Details
Year Built
1900
Units
3
Listing Agency:
e-Merge Real Estate
Listed By:
Marquis Leatherbury · License #2023000126
Source:
Crexi
Added: Nov 1, 2024
Changed: Aug 25
Last Checked: Sep 1 at 12:04AM
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 e-Merge Real Estate
Investment Insights
Based on property information with market context.
This three-unit complex presents an investment opportunity, located within walking distance of downtown Nelsonville. Unit A, situated on the first floor, features two bedrooms and one bathroom and is currently rented for $600 per month. Unit B, located on the second floor, includes three bedrooms and one bathroom, with a potential rental income of $1,100 per month. Unit C is a two-story unit with four bedrooms, one bathroom, and over 1,300 square feet; it is currently rented for $1,300 per month. Several appliances have been upgraded across the units. The property provides off-street parking and elevated views, offering privacy and accessibility. This property is an income-generating opportunity.
Key Highlights
- Income‑generating 3‑unit complex.
- Unit C: Spacious 4‑bed, 1‑bath with 1,300+ sq. ft., currently rented at $1,300/month.
- Unit B: 3‑bed, 1‑bath with $1,100/month rental potential.
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
$10,491
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
4.64%
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%
$209,820
$209.8K
Cap Rate 7%
$149,871
$149.9K
Cap Rate 9%
$116,567
$116.6K
Market Conditions
NOI Build-Up for 1,300 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
$22.6K $17.40/SF
− Vacancy
−$3.5K −$2.73/SF
EGI
$19.1K $14.67/SF
− OpEx
−$8.6K −$6.60/SF
NOI
$10.5K $8.07/SF
Area
Athens County, OH
Vacancy
15.67%
Lease Rate
$17.40 /SF/Yr
Expense Ratio
45.00%
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%
$209,820
Cap Rate 7%
$149,871
Cap Rate 9%
$116,567
Alternative Uses
Best Use
Apartment 5plus
$149.9K
$131.1K – $174.9K
NOI $10,491 @ 7.0% cap · market cap 4.64%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$296.9K
$259.8K – $346.4K
NOI $20,783 @ 7.0% cap · market cap 9.18%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
257
Businesses Nearby
Explore this area
Business Placement
Demographics for 45764, OH
7,859
Population
3,525
Households
2.2
Avg Household Size
36
Median Age
12%
College-Educated
85%
High-School Grad
79.0 sq mi
ZIP Area
99
Density / Sq Mi
$47,978
Median Household Income
$31,688
Median Earnings
$761
Median Rent
$112,500
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Multifamily property - Three-unit complex near downtown Nelsonville with income potential.
Where is this multifamily property located?
The property is located at 106 E Franklin Street Nelsonville, OH.
What is the asking price?
The asking price for this property is $226,300.
What are key features of this property?
This property features: Income‑generating 3‑unit complex.; Unit C: Spacious 4‑bed, 1‑bath with 1,300+ sq. ft., currently rented at $1,300/month.; Unit B: 3‑bed, 1‑bath with $1,100/month rental potential.
