Building Details

Year built 1937

Flooring type Concrete

Building materials Block, Metal Siding

Roof type Metal

Listing Agency: eXp Realty o***@exprealty.net Show Phone

Listed By: Gina Dubell-Smith · License #0000423340 Show Phone

Added: Apr 8 Changed: Aug 20 Last Checked: Aug 28 at 7:06PM

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MLS# 1874307

Copyright © 2026 MLS of Greater Cincinnati, 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 2,533-square-foot flex space in Goshen Twp, Ohio, was rebuilt with a metal roof, updated electrical service, lighting, plumbing, concrete floors, a heat pump, and a hot water heater. The building combines block and metal siding construction with a practical commercial layout.

A 23-by-23-foot front room has new flooring and a half bath for customer-facing or administrative use. The 54-by-37-foot rear area provides open operational, storage, or production space, with approximately 7-foot garage door access. A finished 13-by-7-foot room includes rough-in plumbing and can support additional bathroom, laundry, or workspace needs. The property also includes a drive-in door and electric heat.

Key Highlights

• 2,533 SF flex space on a 0.1‑acre lot
• Rebuilt with new metal roof, updated electrical, lighting, plumbing, and concrete
• 23x23 front room with new flooring and half bath

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

$13,249

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

4.82%

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%

$264,980 $265.0K

Cap Rate 7%

$189,271 $189.3K

Cap Rate 9%

$147,211 $147.2K

Market Conditions

NOI Build-Up for 2,533 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

$19.8K $7.80/SF

− Vacancy

−$830 −$0.33/SF

EGI

$18.9K $7.47/SF

− OpEx

−$5.7K −$2.24/SF

NOI

$13.2K $5.23/SF

Area

Clermont County, OH

Vacancy

4.20%

Lease Rate

$7.80 /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%

$264,980

Cap Rate 7%

$189,271

Cap Rate 9%

$147,211

Alternative Uses

Best Use

Industrial

$189.3K

$165.6K – $220.8K (±1% cap)

NOI $13,249 @ 7.0% cap · market cap 4.82%

Second Best

Flex RnD

$173.4K

$151.7K – $202.3K (±1% cap)

NOI $12,139 @ 7.0% cap · market cap 4.41%

Theoretical Best

Office A

$454.1K

$397.4K – $529.8K (±1% cap)

NOI $31,788 @ 7.0% cap · market cap 11.56%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Property Profile

Current Use

Flex space

Suggested Use

Top Pick Dental Office Building Supply Law Firm Electrical Service Real Estate Agency Plumbing Service

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

1

Drive-in doors

Location Intelligence

Trade Area within ½ mile

87

Businesses Nearby

Balanced

Demand for This Use

Explore this area Business Placement

Demographics for 45122, OH

10,757

Population

4,603

Households

2.3

Avg Household Size

42

Median Age

14%

College-Educated

88%

High-School Grad

42.2 sq mi

ZIP Area

255

Density / Sq Mi

$85,750

Median Household Income

$43,797

Median Earnings

$1,186

Median Rent

$210,200

Median Home Value

Market

Vacancy Rate% for Industrial in Midwest region

4.4% 2019

4.9% 2020

3.6% 2021

3.1% 2022

4.6% 2023

5% 2024

4.9% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this flex space located? What is the asking price? Find similar properties ... What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Flex space - Rebuilt commercial space with updated systems, a drive-in door, and adaptable front and rear areas.

Where is this flex space located?

The property is located at 1943 Main Street Goshen, OH.

What is the asking price?

The asking price for this property is $275,000.

What are key features of this property?

This property features: 2,533 SF flex space on a 0.1‑acre lot; Rebuilt with new metal roof, updated electrical, lighting, plumbing, and concrete; 23x23 front room with new flooring and half bath