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    40 Stimson Ave Athens, OH 45701
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    40 Stimson Ave, Athens, OH 45701

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    • Mixed-use properties
    • 1,624 SF
    • 0.14 lot acres
    Off-Market
    Property ID
    US66-3013184
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Freedom Property Group | Rise Realty Co. / Real Estate Agency

    Property Details for 40 Stimson Ave

    Year built
    1925
    Lot size
    0.14 lot acres
    Property type
    Mixed-use properties

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Apr 10, 2025 $295,000 Lynx Properties LLC Nicholas S Hoffmann Warranty Deed $236k · Oucu Financial Cu
    Apr 17, 2023 $281,000 Nicholas S Hoffmann Bethany L Alexander Warranty Deed $243k · Union Home Mortgage Corp
    Sep 12, 2022 $275,000 Bethany L Alexander Jeffrey H Harper Warranty Deed —

    Description

    This exceptional mixed-use property at 40 E Stimson Avenue in Athens, Ohio presents a compelling investment opportunity. The building boasts a total of 1,624 square feet situated on a 0.14-acre lot. The ground floor features a newly remodeled office space, ideal for a variety of professional uses. Its prime location and updated amenities offer significant potential for rental income or owner-occupancy. Upstairs, a comfortable two-bedroom apartment provides additional income potential, perfect for an owner-occupant or as a separate rental unit. The property includes a significant advantage: ample off-street parking. Newly striped, the parking area offers twelve designated spaces, providing a valuable amenity for tenants and generating additional rental income. This turnkey investment property combines the benefits of a well-maintained office space with the income potential of a residential unit, all within a highly desirable location. The combination of office and residential space, along with the substantial parking, makes this a rare find in the Athens market. The recent renovations ensure immediate occupancy and minimal upfront investment. This property is priced at $349,000 and represents a strong return on investment.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Athens
    County
    Athens
    State
    Ohio
    Longitude
    -82.09172
    Latitude
    39.33249

    Comparable in this City

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      Prime Commercial Development Opportunity

      2.67 acre commercial property on East State Street, Athens, OH.
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    • $415,000
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      Athens Multifamily Investment Opportunity

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    • $80,000
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      Buildable Lot in Athens City

      Rare residential lot in Athens, close to campus and Uptown.
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      Land for Retail Development

      Land available for retail development near Walmart Superstore.
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    • $60,000
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      Land with Pond in Athens

      4-acre lot with pond, woods, and meadow near Athens.
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      Athens Commercial Land - River Access

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    Similar Nearby for Sale

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    • $415,000
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      Athens Multifamily Investment Opportunity

      Three rental units with permit for five unrelated residents.
      123 Grosvenor St, Athens, OH 45701
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    • $80,000
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      Buildable Lot in Athens City

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      1,100 SF

      Established Roadhouse Bar and Restaurant

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      Prime Athens Multifamily Redevelopment Opportunity

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    Similar Nearby for Lease

    • New
      Contact for pricing
      6,000 SF

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      Available inline retail suites with flexible size options for establishing or expanding everyday foot-traffic uses.
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      Freestanding Restaurant with Drive-Thru

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      Land for Lease in Athens

      9.76 acres of commercial land available for lease.
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    • Contact for pricing

      Retail Space for Lease

      Retail property available for lease in Athens, Ohio.
      929 East State St, Athens, OH 45701
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    40 Stimson Ave
    Athens, OH 45701
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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.

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