Triplex with Pond and
For Sale
$265,000
9366 Kirk Rd, North Jackson, OH 44451
Tenant-occupied triplex on a peaceful acreage setting with possible four-unit conversion potential.
Property Size3,649 SF
Lot Size2.00 Acres
Price / SF$72.62
Days on Market17
Property Features for 9366 Kirk Rd
General Information
Standard status
Active
Size
3,649 SF
Lot size
2.00 Acres
Property subtype
Residential Income
Additional Details
Highway Access
Yes
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$3,136
Listing Agency:
Kelly Warren and Associates RE Solutions
(623) 224-7408
Listed By:
Dina Shuto · License #2023001187
(623) 224-7408
Source:
Exprealty
Added: Jul 24
Changed: Aug 7
Last Checked: Aug 8 at 9:33AM
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 Kelly Warren and Associates RE Solutions
Investment Insights
Based on property information with market context.
This tenant-occupied triplex at 9366 Kirk Rd includes 3,649 square feet of residential improvements on approximately 2 acres. The property also features a pond, combining a three-unit configuration with an outdoor setting. The existing occupancy provides an established rental setup, while the property information identifies potential for conversion to a four-unit building.
Located in North Jackson, the property is near shopping, dining, schools, and major highways. Its current triplex layout and acreage distinguish it from a typical small multifamily property, with additional conversion potential noted for future planning.
Located in North Jackson, the property is near shopping, dining, schools, and major highways. Its current triplex layout and acreage distinguish it from a typical small multifamily property, with additional conversion potential noted for future planning.
Key Highlights
- Triplex configuration with 3,649 square feet of improvements
- Approximately 2 acres with a pond
- Tenants already in place
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
$22,643
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
8.54%
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%
$452,860
$452.9K
Cap Rate 7%
$323,471
$323.5K
Cap Rate 9%
$251,589
$251.6K
Market Conditions
NOI Build-Up for 3,649 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
$43.8K $12.00/SF
− Vacancy
−$2.6K −$0.72/SF
EGI
$41.2K $11.28/SF
− OpEx
−$18.5K −$5.08/SF
NOI
$22.6K $6.21/SF
Area
Mahoning County, OH
Vacancy
5.98%
Lease Rate
$12.00 /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%
$452,860
Cap Rate 7%
$323,471
Cap Rate 9%
$251,589
Alternative Uses
Best Use
Multifamily LT 5
$351.1K
$307.2K – $409.6K
NOI $24,574 @ 7.0% cap · market cap 9.27%
Second Best
Apartment 5plus
$323.5K
$283.0K – $377.4K
NOI $22,643 @ 7.0% cap · market cap 8.54%
Theoretical Best
Office A
$688.6K
$602.5K – $803.4K
NOI $48,202 @ 7.0% cap · market cap 18.19%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
3
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
5
Businesses Nearby
Explore this area
Business Placement
Demographics for 44451, OH
3,199
Population
1,396
Households
2.3
Avg Household Size
48
Median Age
21%
College-Educated
92%
High-School Grad
38.7 sq mi
ZIP Area
83
Density / Sq Mi
$64,554
Median Household Income
$42,423
Median Earnings
$694
Median Rent
$201,500
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Tenant-occupied triplex on a peaceful acreage setting with possible four-unit conversion potential.
Where is this triplex located?
The property is located at 9366 Kirk Rd North Jackson, OH.
What is the asking price?
The asking price for this property is $265,000.
What are key features of this property?
This property features: Triplex configuration with 3,649 square feet of improvements; Approximately 2 acres with a pond; Tenants already in place
