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    Main St Rockford, OH 45882

    • Retail properties
    For Sale
    View listing
    $105,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Retail properties

    Property Details for Main St

    Year built
    1800
    Property type
    Retail properties

    Description

    This exceptional investment opportunity presents a unique blend of established income and significant upside potential. Located at 0 S Main Street, Unit 0, in the vibrant city of Rockford, Ohio, this retail property offers a compelling package for discerning investors. The ground floor is currently leased to an established business operating under a state-permitted lease, ensuring a consistent revenue stream. The tenant intends to continue their lease, providing immediate and ongoing rental income. Above the retail space lies an unfinished apartment, presenting a blank canvas for the new owner. While some work has already been completed in the upstairs apartment, there remains considerable scope for customization and value enhancement. The new owner can create a valuable residential unit, potentially increasing the overall return on investment. To respect the current tenant's operations, showings are conveniently scheduled after 4:00 PM daily, or after noon on Saturdays and Sundays. This property offers a rare combination of immediate income generation and future development possibilities, making it an attractive proposition for investors seeking a strong return in a desirable location. The property is zoned for retail use and the existing lease is in place. The size of the property is not specified, but the ground floor is currently occupied by a business. The asking price for this promising investment is $105,000.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Rockford
    County
    Mercer
    State
    Ohio
    Longitude
    -84.6464
    Latitude
    40.6915

    Comparable in this City

    • Value Estimation
      $245,000
      660 SF

      103 Main St

      RETAIL STORES (PERSONAL SERVICES) • 660 SF
      103 Main St, Rockford, OH 45882
      View Details
    • Value Estimation
      $240,000
      3,256 SF

      193 Main St

      RETAIL STORES (PERSONAL SERVICES) • 3,256 SF
      193 Main St, Rockford, OH 45882
      View Details
    • Value Estimation
      $235,000
      850 SF

      Main St

      RETAIL STORES (PERSONAL SERVICES) • 850 SF
      Main St, Rockford, OH 45882
      View Details
    • Value Estimation
      $245,000
      1,680 SF

      State Rte 49

      RESTAURANT • 1,680 SF
      State Rte 49, Rockford, OH 45882
      View Details
    • Value Estimation
      $250,000
      1,740 SF

      412 Franklin St

      DRY CLEANER • 1,740 SF
      412 Franklin St, Rockford, OH 45882-9003
      View Details
    • Value Estimation
      $240,000
      1,330 SF

      132 Market St

      RETAIL STORES (PERSONAL SERVICES) • 1,330 SF
      132 Market St, Rockford, OH 45882
      View Details

    Similar Nearby for Sale

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      Rockford Retail Space - Investment Opportunity

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      Mixed-Use Property with Income Potential

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      Rockford Commercial Building Opportunity

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    Rockford, OH 45882
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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