Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    803 W Chestnut Street Mount Vernon, OH 43050

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    Three units with steady rental income in Mount Vernon, OH.

    Type:Multifamily, Mixed Use
    Added:
    Feb 11, 2024
    Days on Market:
    800
    Last Refresh:
    Mar 17 at 1:25 pm

    Property Features for 803 W Chestnut Street

    General Information

    Standard status
    Active
    Property subtype
    Multifamily, Mixed Use

    Building Details

    Year Built
    1900

    We can help!

    Listing Contact
    Joe Curry

    Listing agent Joe Curry License #2015001037

    Listing office SVN | Wilson Commercial Group, LLC

    Listing date Feb 11, 2024

    Source Crexi

    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 SVN | Wilson Commercial Group, LLC

    Overview

    Mount Vernon Triplex For Sale

    This multifamily property features three one-bedroom, one-bath units. The current rents for the units are $500, $550, and $575 per month. The owner is responsible for covering the costs of water, sewer, and trash services.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Triplexes

    Suggested Use

    Law Firm Restaurant Real Estate Agency Spa & Massage Center Dental Office Hair Salon Nail Salon Food Market Grocery & Convenience Store Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Mount Vernon
    County
    Knox
    State
    Ohio
    Longitude
    -82.4957059
    Latitude
    40.3951795

    Nearby Similar for Sale

    • $649,998
      5,920 SF

      Mount Vernon Commercial Garage Warehouse

      Commercial garage warehouse on State Route 13 with ample parking.
      800 N. Sandusky Street, Mount Vernon, OH 43050
      View Details
    • $650,000
      13,000 SF

      Mount Vernon Mixed-Use Loft Conversion

      Unique live-work property with income potential in Mount Vernon, Ohio.
      409 West Gambier Street, Mount Vernon, OH 43050
      View Details
    • $235,000

      Turnkey Duplex in Mount Vernon

      Move-in ready duplex with two units, ideal for investors.
      5 3rd Avenue, Mount Vernon, OH 43050
      View Details
    • $725,000
      11,000 SF

      Mount Vernon Self-Storage Investment

      11,000 SF industrial property with 61 self-storage units.
      715 North Sandusky Street, Mount Vernon, OH 43050
      View Details
    • $2,100,000
      97,000 SF

      Mount Vernon Industrial Facility

      97,000 SF industrial building with crane capacity.
      105 N Sandusky Street, Mount Vernon, OH 43050
      View Details
    • Contact for pricing
      60,480 SF

      Versatile Industrial Building in Mt. Vernon

      Three-story industrial building with office space and secure vault.
      105 N Sandusky Street, Mount Vernon, OH 43050
      View Details
    • $2,100,000
      97,000 SF

      Mount Vernon Industrial Facility

      97,000 SF industrial building with cranes and ample parking.
      105 N Sandusky Street, Mount Vernon, OH 43050
      View Details
    • $230,000
      2,862 SF

      Mount Vernon Quadplex Investment Opportunity

      Quadplex in Mount Vernon with immediate rental income potential.
      532 E Gambier St, Mount Vernon, OH 43050
      View Details
    • Contact for pricing
      60,480 SF

      Industrial Building in Mount Vernon

      Three-story industrial building with secure vault and ample parking.
      105 N Sandusky Street, Mount Vernon, OH 43050
      View Details
    • $145,000
      1,558 SF

      Mount Vernon Duplex Investment Opportunity

      Well-maintained duplex in Mount Vernon with immediate income potential.
      708 W Chestnut St, Mount Vernon, OH 43050
      View Details
    • $175,000
      2,072 SF

      Mount Vernon Triplex Investment Opportunity

      Well-maintained triplex in Central Ohio with immediate income potential.
      803 W Chestnut St, Mount Vernon, OH 43050
      View Details
    • $140,000
      1,480 SF

      Duplex with Renovated Unit

      Duplex featuring a renovated unit and detached garage.
      213 N Division St, Mount Vernon, OH 43050
      View Details

    FAQs

    What type of property is this?
    Triplex - Three units with steady rental income in Mount Vernon, OH.
    Where is this triplex located?
    The property is located at 803 W Chestnut Street Mount Vernon, OH.
    What is the asking price?
    The asking price for this property is $170,000.
    What are key features of this property?
    This property features: Three separate one‑bedroom, one‑bath units offer immediate rental income.; Current rental income from units totals $1625 per month.; Property built in 1900.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Joe Curry
    Real Estate License ID: 2015001037
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!