Versatile Retail/Flex Building on
For Sale
$600,000
955 North Main Street, Urbana, OH 43078
6,250 SF retail/flex building on 0.87-acre lot in Urbana, Ohio.
Property Size6,250 SF
Lot Size0.87 Acres
Price / SF$96
Days on Market158
Property Features for 955 North Main Street
General Information
Standard status
Active
Size
6,250 SF
Lot size
0.87 Acres
Property subtype
Retail
Building Details
Building Size
6,250 SF
Year Built
1959
Listing Agency:
NAI Ohio Equities
Listed By:
Curt Berlin, SIOR · License #336585
(614) 296-3739
Source:
Ohioequities
Added: Apr 1
Changed: Aug 26
Last Checked: Sep 5 at 6:23AM
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 6,250 SF retail/flex building is positioned on a 0.87-acre lot along U.S. Route 68 in Urbana, Ohio. The property includes a 1,500 SF retail/office area with two private offices, a 3,500 SF open showroom or retail floor with a drive-in door, and a 1,250 SF warehouse/storage area in the rear with drive-in access. The building is suited for showroom, general retail, equipment sales, contractor, or service-oriented businesses. It features four drive-in doors (three 10' x 10' and one 9.5' x 10'), a large parking lot, newer HVAC and roof, monument signage on US-68, and 200 amp power. The property is zoned B-2, General Business District and offers visibility on U.S. Route 68 (N. Main Street).
Key Highlights
- Highly visible location on U.S. Route 68.
- Versatile 6,250 SF retail/flex building suitable for various business types.
- Four drive‑in doors for easy access and logistics.
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
$25,682
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
4.28%
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%
$513,640
$513.6K
Cap Rate 7%
$366,886
$366.9K
Cap Rate 9%
$285,356
$285.4K
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
−$11.0K −$1.76/SF
NOI
$25.7K $4.11/SF
Area
Champaign County, OH
Vacancy
8.42%
Lease Rate
$6.41 /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%
$513,640
Cap Rate 7%
$366,886
Cap Rate 9%
$285,356
Alternative Uses
Best Use
Industrial
$366.9K
$321.0K – $428.0K
NOI $25,682 @ 7.0% cap · market cap 4.28%
Second Best
Flex RnD
$338.0K
$295.8K – $394.4K
NOI $23,662 @ 7.0% cap · market cap 3.94%
Theoretical Best
Specialty Retail
$1.74M
$1.53M – $2.03M
NOI $122,032 @ 7.0% cap · market cap 20.34%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
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 - 6,250 SF retail/flex building on 0.87-acre lot in Urbana, Ohio.
Where is this flex space located?
The property is located at 955 North Main Street Urbana, OH.
What is the asking price?
The asking price for this property is $600,000.
What are key features of this property?
This property features: Highly visible location on U.S. Route 68.; Versatile 6,250 SF retail/flex building suitable for various business types.; Four drive‑in doors for easy access and logistics.
