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409 Rice St 1,798 SF Retail Building Elmore, OH 43416 $167,500 ($93.16/SF) 5.25% Cap Rate
Executive Summary
Corner Lot Investment Opportunity in Elmore. Fantastic opportunity to own a high-visibility commercial asset on a high-traffic corner lot. This property features a solid, long-term tenant. Tenant is currently under lease through late 2026 and has expressed interest in a long-term extension, providing a prime opportunity for the new owner to negotiate. Current rent includes a tax contribution; per the lease, this portion is adjustable based on reassessment (property was recently reassessed and will push rent). The building has been well-maintained with recent capital improvements, including partial new windows and doors (2024), a resealed roof (2022), and HVAC (2016). Ample parking and excellent street presence make this an ideal addition to your portfolio. Extremely low owner-management required. Turn-key and ready for its next owner.
Financial Summary (Actual - 2025) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
-
|
-
|
Financial Summary (Actual - 2025) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
Property Facts
Sale Type
Investment or Owner User
Property Type
Retail
Property Subtype
Auto Repair
Building Size
1,798 SF
Building Class
C
Year Built
1930
Price
$167,500
Price Per SF
$93.16
Cap Rate
5.25%
NOI
$8,800
Tenancy
Single
Building Height
1 Story
Building FAR
0.31
Lot Size
0.13 AC
Zoning
Commercial
Parking
5 Spaces (2.78 Spaces per 1,000 SF Leased)
Frontage
54’ on Rice St
Nearby Major Retailers
Property Taxes
| Parcel Number | 019-0254003219000 | Total Assessment | $26,996 (2024) |
| Land Assessment | $10,178 (2024) | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $16,818 (2024) | Tax Year | 2025 |
Property Taxes
Parcel Number
019-0254003219000
Land Assessment
$10,178 (2024)
Improvements Assessment
$16,818 (2024)
Total Assessment
$26,996 (2024)
Annual Taxes
($1) ($0.00/SF)
Tax Year
2025
1 of 4
Videos
Matterport 3D Exterior
Matterport 3D Tour
Photos
Street View
Street
Map
Presented by
Denny Henlines Home Town Realt
409 Rice St
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