Geneva Mixed-Use Property For
For Sale
Contact for pricing
670 Sherman St, Geneva, OH 44041
Mixed-use property in Geneva, Ohio, suitable for investment.
Property Size7,875 SF
Price / SF$40
Days on Market1865
Property Features for 670 Sherman St
General Information
Standard status
Active
Size
7,875 SF
Property subtype
Industrial, Mixed Use, Office
Zoning
R-4 Single Family Residential-High Density
Investment Type
Owner/User
Building Details
Year Built
1935
Year Renovated
1985
Buildings
1
Stories
2
Units
3
Tenancy
Multi
Listing Agency:
Global Real Estate Advisors Inc
(440) 255-5552
Listed By:
Tim Sawicki · License #OH SAL.2002003749
Source:
Crexi
Added: Jul 16, 2021
Changed: Aug 10
Last Checked: Aug 22 at 3:35PM
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 Global Real Estate Advisors Inc
Investment Insights
Based on property information with market context.
This mixed-use property, located in Geneva, Ohio, offers an investment opportunity or potential for owner occupancy. The property encompasses a total area of 7875 square feet. It is suitable for commercial real estate purposes, including mixed-use, industrial, and office applications.
Key Highlights
- Investment opportunity with owner occupy potential.
- Built in 1935.
- Additional property details available.
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
$27,227
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
8.64%
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%
$544,540
$544.5K
Cap Rate 7%
$388,957
$389.0K
Cap Rate 9%
$302,522
$302.5K
Market Conditions
NOI Build-Up for 7,875 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
$39.7K $5.04/SF
− Vacancy
−$794 −$0.10/SF
EGI
$38.9K $4.94/SF
− OpEx
−$11.7K −$1.48/SF
NOI
$27.2K $3.46/SF
Area
Ashtabula County, OH
Vacancy
2.00%
Lease Rate
$5.04 /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%
$544,540
Cap Rate 7%
$388,957
Cap Rate 9%
$302,522
Alternative Uses
Best Use
Office B
$1.08M
$942.6K – $1.26M
NOI $75,411 @ 7.0% cap · market cap 23.94%
Second Best
Mixed Use
$820.1K
$717.6K – $956.8K
NOI $57,409 @ 7.0% cap · market cap 18.23%
Theoretical Best
Office A
$1.47M
$1.28M – $1.71M
NOI $102,725 @ 7.0% cap · market cap 32.61%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
282
Businesses Nearby
Explore this area
Business Placement
Demographics for 44041, OH
13,910
Population
7,155
Households
1.9
Avg Household Size
46
Median Age
18%
College-Educated
91%
High-School Grad
65.1 sq mi
ZIP Area
214
Density / Sq Mi
$58,438
Median Household Income
$37,644
Median Earnings
$816
Median Rent
$167,000
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 - Mixed-use property in Geneva, Ohio, suitable for investment.
Where is this mixed-use property located?
The property is located at 670 Sherman St Geneva, OH.
What is the asking price?
The asking price for this property is $315,000.
What are key features of this property?
This property features: Investment opportunity with owner occupy potential.; Built in 1935.; Additional property details available.
