Office Building with Paved Parking
For Sale
$395,000
1045-1049 N Main Street, Bellefontaine, OH 43311
COMMERCIAL - Bellefontaine, OH
Property Size1,625 SF
Lot Size1.00 Acre
Price / SF$243.08
Days on Market95
Property Features for 1045-1049 N Main Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
Commercial
Parking features
Parking Lot
Basement
Full, Block
Directions
1045-1049 N Main Street, Bellefontaine, OH 43311
Subdivision
901 Bellefontaine
Standard status
Active
APN
170772004012000
Size
1,625 SF
Lot size
1.00 Acre
Taxes and HOA fees
Tax Year
2025
Utilities
Sewer type
Public Sewer
Heating system
Forced Air, Natural Gas
Cooling system
Central Air
Building Details
Year built
1930
Building materials
Vinyl Siding
Listing Agency:
Key Realty
(877) 539-7589
Listed By:
Malia K. Hughes · License #2008001822
(937) 935-8008
Added: Jun 3
Changed: Aug 5
Last Checked: Sep 5 at 5:06PM
MLS# 1046311
Copyright © 2026 Western Regional Information System & Technology, Inc. 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.
Located in Bellefontaine, Ohio, this office building is offered on three parcels totaling approximately one acre. The property includes a well-maintained professional building with ample office, retail, studio, or showroom space, along with numerous updates to support a move-in-ready environment.
The site is zoned B2 and B3, providing flexibility for a range of commercial uses. Parking is handled via a large paved parking lot, and the property is connected to public sewer. Constructed in 1930 with vinyl siding, the building is served by natural gas forced-air heating and central air cooling.
With its multi-parcel setup and established building improvements, the property can support businesses seeking adaptable indoor space and convenient on-site parking.
The site is zoned B2 and B3, providing flexibility for a range of commercial uses. Parking is handled via a large paved parking lot, and the property is connected to public sewer. Constructed in 1930 with vinyl siding, the building is served by natural gas forced-air heating and central air cooling.
With its multi-parcel setup and established building improvements, the property can support businesses seeking adaptable indoor space and convenient on-site parking.
Key Highlights
- Three parcels totaling approximately one acre
- Zoned B2 and B3
- Building offers office, retail, studio, or showroom space
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
$19,968
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
5.06%
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%
$399,360
$399.4K
Cap Rate 7%
$285,257
$285.3K
Cap Rate 9%
$221,867
$221.9K
Market Conditions
NOI Build-Up for 1,625 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
$35.0K $21.53/SF
− Vacancy
−$8.4K −$5.15/SF
EGI
$26.6K $16.38/SF
− OpEx
−$6.7K −$4.10/SF
NOI
$20.0K $12.29/SF
Area
Logan County, OH
Vacancy
23.90%
Lease Rate
$21.53 /SF/Yr
Expense Ratio
25.00%
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%
$399,360
Cap Rate 7%
$285,257
Cap Rate 9%
$221,867
Alternative Uses
Best Use
Office B
$285.3K
$249.6K – $332.8K
NOI $19,968 @ 7.0% cap · market cap 5.06%
Second Best
Retail
$90.9K
$79.5K – $106.0K
NOI $6,361 @ 7.0% cap · market cap 1.61%
Theoretical Best
Office A
$328.0K
$287.0K – $382.7K
NOI $22,962 @ 7.0% cap · market cap 5.81%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
335
Businesses Nearby
Explore this area
Business Placement
Demographics for 43311, OH
20,029
Population
9,497
Households
2.1
Avg Household Size
40
Median Age
17%
College-Educated
93%
High-School Grad
103.8 sq mi
ZIP Area
193
Density / Sq Mi
$64,217
Median Household Income
$40,341
Median Earnings
$833
Median Rent
$183,000
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Office building on parcels zoned B2 and B3, with central air, forced-air natural gas heat, and a large paved parking lot.
Where is this office building located?
The property is located at 1045-1049 N Main Street Bellefontaine, OH.
What is the asking price?
The asking price for this property is $395,000.
What are key features of this property?
This property features: Three parcels totaling approximately one acre; Zoned B2 and B3; Building offers office, retail, studio, or showroom space
