Building Details

Year Built 1832

Stories 3

Listing Agency: Jack Kohl Realty r***@jkohlre.com

Listed By: Ronald L Lewis Jr Show Phone

Source: Exprealty

Added: Oct 1, 2025 Changed: Aug 20 Last Checked: Sep 4 at 2:17PM

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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 Jack Kohl Realty

Investment Insights

Based on property information with market context.

Historic Stage Coach Inn building in Palmyra Township featuring three floors of above-grade space with an additional basement. The basement has a dirt floor and a large fireplace box that was used to heat the building. The property is secured and upright following prior repairs, but it is in need of renovation and would be best suited for a buyer planning a full rehab.

The first floor includes three entry ways. One side entry opens to a large room with a fireplace, the middle entry leads to a foyer with steps to the second floor, and another door leads to what was the former salon area. The first floor also includes an old kitchen toward the back.

On the second floor, there are 4–5 rooms that could be set up as overnight-rental rooms, along with a bathroom and another room described as a kitchen area. The third floor includes a large gathering/meeting room added to the back around 1888, and there was a separate exterior entrance to the third floor.

Key Highlights

• Historic Stage Coach Inn in Palmyra Township with 3 floors plus basement
• Approximately 4,200 sq ft above‑grade space, with basement featuring a dirt floor and a large fireplace box
• Built date reported as 1812 on the auditor’s website; historical plaque lists 1832

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

$10,929

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

9.12%

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%

$218,580 $218.6K

Cap Rate 7%

$156,129 $156.1K

Cap Rate 9%

$121,433 $121.4K

Market Conditions

NOI Build-Up for 4,200 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

$41.8K $9.96/SF

− Vacancy

−$18.8K −$4.48/SF

EGI

$23.0K $5.48/SF

− OpEx

−$12.1K −$2.88/SF

NOI

$10.9K $2.60/SF

Area

Portage County, OH

Vacancy

45.00%

Lease Rate

$9.96 /SF/Yr

Expense Ratio

52.50%

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%

$218,580

Cap Rate 7%

$156,129

Cap Rate 9%

$121,433

Alternative Uses

Best Use

Hotel Hospitality

$156.1K

$136.6K – $182.2K (±1% cap)

NOI $10,929 @ 7.0% cap · market cap 9.12%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$846.0K

$740.2K – $987.0K (±1% cap)

NOI $59,219 @ 7.0% cap · market cap 49.39%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Property Profile

Current Use

Palmyra Center Hotel Tour Operator

Suggested Use

Top Pick Parking Lot & Garage Food Market Fish Market Farmer's Market Restaurant

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

22

Businesses Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Demographics for 44412, OH

2,472

Population

1,160

Households

2.1

Avg Household Size

44

Median Age

19%

College-Educated

93%

High-School Grad

22.5 sq mi

ZIP Area

110

Density / Sq Mi

$102,083

Median Household Income

$47,847

Median Earnings

$861

Median Rent

$251,600

Median Home Value

Questions? Ask Rey

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What type of property is this? Where is this bed & breakfasts located? What is the asking price? Find similar properties What are key features of this property?

Frequently Asked Questions

What type of property is this?

Bed & breakfast - Old historic inn building with three floors plus basement, requiring renovation and offering multiple interior spaces.

Where is this bed & breakfast located?

The property is located at 9401 Tallmadge Rd Diamond, OH.

What is the asking price?

The asking price for this property is $119,900.

What are key features of this property?

This property features: Historic Stage Coach Inn in Palmyra Township with 3 floors plus basement; Approximately 4,200 sq ft above‑grade space, with basement featuring a dirt floor and a large fireplace box; Built date reported as 1812 on the auditor’s website; historical plaque lists 1832