Updated Storefront
New
For Sale
$400,000
964 N State Street, Girard, OH 44420
CommercialSale, Girard, OH
Property Size8,287 SF
Lot Size0.54 Acres
Price / SF$48.27
Days on Market4
Property Features for 964 N State Street
General Information
Property type
Commercial Sale
Property subtype
Retail
Rooms
Basement
Parking
10
Elementary school district
Girard CSD - 7807
Middle school district
Girard CSD - 7807
High school district
Girard CSD - 7807
Directions
Route 422 / 964 N. State Street Girard, Ohio 44420
Standard status
Active
APN
14-441300
Lot size
0.54 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
2 139.77F .5387APER SURVEYFRANKFORD PLATSTATE STGIRARD CITY
Tax Annual Amount
6310
Legal Description
2 139.77F .5387APER SURVEYFRANKFORD PLATSTATE STGIRARD CITY
Utilities
Sewer type
Public Sewer
Heating system
Forced Air, Natural Gas
Cooling system
Central Air
Water source
Public
Building Details
Year built
1935
Roof type
Shingle
Listing Agency:
Steel Valley Homes
(330) 406-4663
Listed By:
John M Wyant · License #2013002630
(330) 717-3244
Added: Sep 14
Changed: Sep 15
Last Checked: Sep 17 at 10:06AM
MLS# 5245211
Copyright © 2026 MLS Now. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This updated storefront property offers a multi-level commercial layout with an open retail area, customer counter, mechanics space, private office, bathroom, and partial basement. The existing bike shop is included with the purchase. Built in 1935, the building sits on 0.5387 acres and is served by public water and public sewer.
Building systems include forced-air, natural-gas heating and central air conditioning. The property also features a shingle roof and is located at 964 N State Street in Girard, Ohio 44420.
Building systems include forced-air, natural-gas heating and central air conditioning. The property also features a shingle roof and is located at 964 N State Street in Girard, Ohio 44420.
Key Highlights
- 8,287 Sq/Ft updated commercial building
- Multi‑level layout with retail, mechanics, office, bathroom, and partial basement areas
- Existing bike shop included with purchase
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
$35,184
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
8.80%
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%
$703,680
$703.7K
Cap Rate 7%
$502,629
$502.6K
Cap Rate 9%
$390,933
$390.9K
Market Conditions
NOI Build-Up for 8,287 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
$53.7K $6.48/SF
− Vacancy
−$3.4K −$0.41/SF
EGI
$50.3K $6.07/SF
− OpEx
−$15.1K −$1.82/SF
NOI
$35.2K $4.25/SF
Area
Butler County, OH
Vacancy
6.40%
Lease Rate
$6.48 /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%
$703,680
Cap Rate 7%
$502,629
Cap Rate 9%
$390,933
Alternative Uses
Best Use
Retail
$502.6K
$439.8K – $586.4K
NOI $35,184 @ 7.0% cap · market cap 8.80%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.64M
$1.43M – $1.91M
NOI $114,696 @ 7.0% cap · market cap 28.67%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
251
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 44420, OH
15,033
Population
7,047
Households
2.1
Avg Household Size
44
Median Age
22%
College-Educated
93%
High-School Grad
14.8 sq mi
ZIP Area
1,016
Density / Sq Mi
$52,542
Median Household Income
$36,931
Median Earnings
$776
Median Rent
$115,000
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Storefront property - Multi-level commercial space with retail, service, office, and partial basement areas, plus an existing bike shop offered with the sale.
Where is this storefront property located?
The property is located at 964 N State Street Girard, OH.
What is the asking price?
The asking price for this property is $400,000.
What are key features of this property?
This property features: 8,287 Sq/Ft updated commercial building; Multi‑level layout with retail, mechanics, office, bathroom, and partial basement areas; Existing bike shop included with purchase
