Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    11977 State Route 235 Lakeview, OH 43331

    Sponsored
    For Sale
    $300,000

    COMMERCIAL - Other - Lakeview, OH

    Property size:
    1,500 SF
    Lot size:
    0.76 Acres
    Days on Market:
    1
    Last Refresh:
    Mar 4 at 9:06 am

    Property Features for 11977 State Route 235

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Active
    APN
    430041908004000
    Size
    1,500 SF
    Lot size
    0.76 Acres

    Building Details

    Year built
    1994
    Building materials
    Metal Siding
    Architectural style
    Other

    We can help!

    Listing Contact
    Lori Newman

    Key Realty (877) 539-7589

    Listing agent Lori Newman (877) 539-7589

    Listing date Mar 4, 2026

    MLS# 1044090

    Copyright © 2026 West Metro Board of REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Versatile Metal Building on Gravel Lot

    This versatile 50x30 metal building presents a great opportunity for a small business or investment. The 1500-square-foot building includes two overhead doors and a man door, along with an office area that is currently rented. Situated on a 0.76-acre gravel lot, the property offers ample parking. A portion of the lot is currently rented to Buckeye Pizza for overflow parking, providing additional income. Located in Lakeview, Ohio, this property offers potential for various commercial uses. The property can also be purchased with 12045 St Rt 235 N, home of the Indian Lake Flea Market, for expanded commercial opportunity.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Parking lots & garages

    Suggested Use

    Restaurant Kitchen & Bath Showroom Hotel & Motel Grocery & Convenience Store Auto Parts Store Food Market Grocery & Convenience Store Nursing Home Garden Center Plumbing Service

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Lakeview
    County
    Logan
    State
    Ohio
    Longitude
    -83.918419
    Latitude
    40.512142

    Nearby Similar for Sale

    • New
      $1,000,000
      4,766 SF

      Profitable Flea Market Opportunity

      Established flea market with multiple income streams on commercially zoned land.
      12045 State Route 235, Lakeview, OH 43331
      View Details
    • $350,000
      5,688 SF

      Downtown Grocery Store For Sale

      Grocery store with equipment on a large lot for sale.
      155 N Main St, Lakeview, OH 43331
      View Details
    • New
      $229,000
      2,400 SF

      Updated Commercial Building Near Indian Lake

      Turnkey commercial building with recent updates and flexible potential.
      150 E Lake St, Lakeview, OH 43331
      View Details
    • $375,000
      2,336 SF

      Lakeview Commercial Property For Sale

      Commercial property with multiple buildings and a house in Lakeview.
      11650 County Road 87, Lakeview, OH 43331
      View Details
    • $299,900
      15,109 SF

      Versatile Commercial Space in Lakeview, OH

      Adaptable commercial property with office, storage, and storefront potential.
      230 S Main St, Lakeview, OH 43331
      View Details
    • $278,000
      2,918 SF

      Lakeview, OH Commercial Property

      Commercial property in Lakeview, OH, near Indian Lake.
      13699 State Route 235, Lakeview, OH 43331
      View Details
    • $278,000
      2,918 SF

      Lakeview Commercial Property For Sale

      Commercial property in Lakeview, OH, suitable for church or business.
      13699 Oh-235, Lakeview, OH 43331
      View Details
    • $375,000
      2,336 SF

      Lakeview Commercial Property Investment

      Prime Indian Lake location, multiple buildings, high potential.
      11650 Co Rd, Lakeview, OH 43331
      View Details
    • $375,000

      Lakeview, OH Investment Property

      Prime Lakeview location, multiple income streams.
      11650 County Road 87, Lakeview, OH 43331
      View Details

    FAQs

    What type of property is this?
    Parking lot & garage - Commercial building with rental income potential in Lakeview, Ohio.
    Where is this parking lot & garage located?
    The property is located at 11977 State Route 235 Lakeview, OH.
    What is the asking price?
    The asking price for this property is $300,000.
    What are key features of this property?
    This property features: - Versatile 50x30 metal building suitable for business or investment.; - Income potential from existing tenant in office area.; - Additional income potential from Buckeye Pizza overflow parking rental.
    (877) 539-7589
    Request Owner's contact information
    11977 State Route 235 Lakeview, OH 43331
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    11977 State Route 235
    Lakeview, OH 43331
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    11977 State Route 235 Lakeview, OH 43331
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Lori Newman
    (877) 539-7589
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!