Warehouse with Overhead
For Sale
$250,000
129 W Sandusky Avenue, Bellefontaine, OH 43311
Commercial Sale, Bellefontaine, OH
Property Size5,500 SF
Lot Size0.30 Acres
Price / SF$45.45
Days on Market723
Property Features for 129 W Sandusky Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
Business
Directions
Located between Main and Detroit. Access to building is in rear off Watson.
Subdivision
901 Bellefontaine
Standard status
Active
APN
170911220028000
Size
5,500 SF
Lot size
0.30 Acres
Taxes and HOA fees
Tax Year
2023
Utilities
Sewer type
Public Sewer
Building Details
Year built
1920
Building materials
Stone, Wood Siding
Listing Agency:
Bell Hankins Realty Group, LLC
(937) 935-2450
Listed By:
Heidi Baker · License #2018000866
(937) 844-1302
Added: Sep 12, 2024
Changed: Sep 2
Last Checked: Sep 4 at 3:06AM
MLS# 1034334
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.
This 5,500-square-foot warehouse is configured with 55 x 100 dimensions and includes a concrete floor, full utilities, and a 10 x 10 electric overhead door. The building was constructed in 1920 with stone and wood siding, providing a substantial existing structure for warehouse and storage functions.
The property occupies 0.3 acres at 129 W Sandusky Avenue in downtown Bellefontaine, Ohio. It is positioned just off Sandusky Avenue and served by public sewer, with the address located in Logan County.
The property occupies 0.3 acres at 129 W Sandusky Avenue in downtown Bellefontaine, Ohio. It is positioned just off Sandusky Avenue and served by public sewer, with the address located in Logan County.
Key Highlights
- 5,500 square feet of warehouse space
- 55 x 100 building dimensions
- 10 x 10 electric overhead door
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
$22,601
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
9.04%
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%
$452,020
$452.0K
Cap Rate 7%
$322,871
$322.9K
Cap Rate 9%
$251,122
$251.1K
Market Conditions
NOI Build-Up for 5,500 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
$35.3K $6.41/SF
− Vacancy
−$3.0K −$0.54/SF
EGI
$32.3K $5.87/SF
− OpEx
−$9.7K −$1.76/SF
NOI
$22.6K $4.11/SF
Area
Logan County, OH
Vacancy
8.42%
Lease Rate
$6.41 /SF/Yr
Expense Ratio
30.00%
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%
$452,020
Cap Rate 7%
$322,871
Cap Rate 9%
$251,122
Alternative Uses
Best Use
Warehouse
$392.1K
$343.1K – $457.4K
NOI $27,444 @ 7.0% cap · market cap 10.98%
Second Best
Industrial
$322.9K
$282.5K – $376.7K
NOI $22,601 @ 7.0% cap · market cap 9.04%
Theoretical Best
Office A
$1.11M
$971.5K – $1.30M
NOI $77,716 @ 7.0% cap · market cap 31.09%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
800
Businesses Nearby
Under-served
Demand for This Use
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 Industrial in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Warehouse - Functional warehouse space with a concrete floor, electric overhead door, and full utilities.
Where is this warehouse located?
The property is located at 129 W Sandusky Avenue Bellefontaine, OH.
What is the asking price?
The asking price for this property is $250,000.
What are key features of this property?
This property features: 5,500 square feet of warehouse space; 55 x 100 building dimensions; 10 x 10 electric overhead door
