Retail Flex Building with
For Sale
Contact for pricing
955 N Main St, Urbana, OH 43078
Retail-flex building includes a drive-in door showroom, rear warehouse access, four total drive-in doors, and newer HVAC and roof.
Property Size6,250 SF
Lot Size0.87 Acres
Price / SF$116
Days on Market93
Property Features for 955 N Main St
General Information
Standard status
Active
Size
6,250 SF
Lot size
0.87 Acres
Property subtype
RETAIL
Zoning
B-2
Site & Location
Highway Access
Yes
Road Access
Yes
Additional Details
Drive-In Doors
4
Listing Agency:
NAI Ohio Equities
(614) 595-2752
Listed By:
Chad Boggs · License ##2023003870
(614) 595-2752
Source:
Moodyscre
Added: May 13
Changed: Aug 12
Last Checked: May 13 at 11:58PM
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 NAI Ohio Equities
Investment Insights
Based on property information with market context.
This retail/flex building totals 6,250 SF on a 0.87-acre lot and is divided into distinct functional areas. There is a 1,500 SF retail/office portion with two private offices, plus a 3,500 SF open showroom/retail floor that includes a drive-in door. A 1,250 SF rear warehouse/storage area provides drive-in access, supported by four total drive-in doors (three 10' x 10' and one 9.5' x 10').
The property features a large on-site parking lot and monument signage. It is served by 200 amp power, with newer HVAC and a newer roof in place.
The building is zoned B-2, General Business District, and is described as having excellent visibility on U.S. Route 68 (N. Main Street).
The property features a large on-site parking lot and monument signage. It is served by 200 amp power, with newer HVAC and a newer roof in place.
The building is zoned B-2, General Business District, and is described as having excellent visibility on U.S. Route 68 (N. Main Street).
Key Highlights
- 6,250 SF retail/flex building on a 0.87‑acre lot with office, showroom/retail, and rear warehouse/storage space
- 3,500 SF open showroom/retail floor plus 1,500 SF retail/office area with 2 private offices
- 1,250 SF rear warehouse/storage area with drive‑in access
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
$31,186
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
4.30%
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%
$623,720
$623.7K
Cap Rate 7%
$445,514
$445.5K
Cap Rate 9%
$346,511
$346.5K
Market Conditions
NOI Build-Up for 6,250 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
$40.1K $6.41/SF
− Vacancy
−$3.4K −$0.54/SF
EGI
$36.7K $5.87/SF
− OpEx
−$5.5K −$0.88/SF
NOI
$31.2K $4.99/SF
Area
Champaign County, OH
Vacancy
8.42%
Lease Rate
$6.41 /SF/Yr
Expense Ratio
15.00%
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%
$623,720
Cap Rate 7%
$445,514
Cap Rate 9%
$346,511
Alternative Uses
Best Use
Warehouse
$445.5K
$389.8K – $519.8K
NOI $31,186 @ 7.0% cap · market cap 4.30%
Second Best
Industrial
$366.9K
$321.0K – $428.0K
NOI $25,682 @ 7.0% cap · market cap 3.54%
Theoretical Best
Specialty Retail
$1.74M
$1.53M – $2.03M
NOI $122,032 @ 7.0% cap · market cap 16.83%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Drive-in doors
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
134
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 43078, OH
20,067
Population
8,904
Households
2.3
Avg Household Size
43
Median Age
22%
College-Educated
91%
High-School Grad
150.4 sq mi
ZIP Area
133
Density / Sq Mi
$72,500
Median Household Income
$40,854
Median Earnings
$909
Median Rent
$176,300
Median Home Value
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Retail-flex building includes a drive-in door showroom, rear warehouse access, four total drive-in doors, and newer HVAC and roof.
Where is this flex space located?
The property is located at 955 N Main St Urbana, OH.
What is the asking price?
The asking price for this property is $725,000.
What are key features of this property?
This property features: 6,250 SF retail/flex building on a 0.87‑acre lot with office, showroom/retail, and rear warehouse/storage space; 3,500 SF open showroom/retail floor plus 1,500 SF retail/office area with 2 private offices; 1,250 SF rear warehouse/storage area with drive‑in access
