Freestanding Brick Building on
For Sale
Contact for pricing
4302 Gallia Street unit 1, New Boston, OH 45662
Commercial building on Gallia Street with high visibility.
Property Size2,100 SF
Price / SF$76.14
Days on Market752
Property Features for 4302 Gallia Street unit 1
General Information
Standard status
Active
Size
2,100 SF
Property subtype
Special Purpose
Listing Agency:
CENTURY 21 Empire Realty, S. E.
Listed By:
Matt Schackart · License #OH
Source:
Crexi
Added: Aug 23, 2024
Changed: Sep 7
Last Checked: Sep 13 at 7:33AM
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 CENTURY 21 Empire Realty, S. E.
Investment Insights
Based on property information with market context.
This freestanding brick commercial building is located on Gallia Street (SR 52 East) and Lakeview Avenue, which also intersects with SR 52 West. Situated on an intersection with both traffic lights and pedestrian crossings, the property offers a strategic position with high visibility. Key features include an updated roof membrane, central heating unit, ample basement storage, and convenient off-street parking. The building has a versatile layout that allows for the possibility of dividing the space into two separate commercial units. The property is suitable for establishing a new business or expanding an existing one.
Key Highlights
- High‑visibility location at a signalized intersection on Gallia Street (SR 52 East) and Lakeview Avenue.
- Versatile layout allows for division into two separate commercial units.
- Updated roof membrane.
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
$9,014
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
5.64%
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%
$180,280
$180.3K
Cap Rate 7%
$128,771
$128.8K
Cap Rate 9%
$100,156
$100.2K
Market Conditions
NOI Build-Up for 2,100 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
$13.4K $6.36/SF
− Vacancy
−$478 −$0.23/SF
EGI
$12.9K $6.13/SF
− OpEx
−$3.9K −$1.84/SF
NOI
$9.0K $4.29/SF
Area
Scioto County, OH
Vacancy
3.58%
Lease Rate
$6.36 /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%
$180,280
Cap Rate 7%
$128,771
Cap Rate 9%
$100,156
Alternative Uses
Best Use
Retail
$128.8K
$112.7K – $150.2K
NOI $9,014 @ 7.0% cap · market cap 5.64%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$446.9K
$391.0K – $521.4K
NOI $31,283 @ 7.0% cap · market cap 19.56%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
278
Businesses Nearby
165k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Superstores 57%
Dining 21%
Shops & Services 8%
Home Improvements & Furnishings 5%
Walmart
Superstores
93,993 visits/mo
0.3 miles
Arby's
Dining
11,902 visits/mo
0.4 miles
Bob Evans Restaurant
Dining
11,507 visits/mo
0.5 miles
Ollie's Bargain Outlet
Shops & Services
11,457 visits/mo
0.3 miles
Tractor Supply Co.
Home Improvements & Furnishings
8,111 visits/mo
0.3 miles
Demographics for 45662, OH
27,718
Population
12,955
Households
2.1
Avg Household Size
39
Median Age
17%
College-Educated
87%
High-School Grad
55.5 sq mi
ZIP Area
499
Density / Sq Mi
$37,345
Median Household Income
$30,399
Median Earnings
$756
Median Rent
$98,100
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Retail space - Commercial building on Gallia Street with high visibility.
Where is this retail space located?
The property is located at 4302 Gallia Street unit 1 New Boston, OH.
What is the asking price?
The asking price for this property is $159,900.
What are key features of this property?
This property features: High‑visibility location at a signalized intersection on Gallia Street (SR 52 East) and Lakeview Avenue.; Versatile layout allows for division into two separate commercial units.; Updated roof membrane.
