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

    224 Ohio St Ashland, OH 44805

    View on Map
    Claim this Listing
    For Sale
    Contact for pricing

    Commercial, Office,Warehouse - Ashland, OH

    Property size:
    2,500 SF
    Lot size:
    0.56 Acres
    Price / SF:
    $0.50/SF
    Added:
    Mar 2, 2026
    Days on Market:
    57
    Last Refresh:
    Apr 28 at 11:06 pm

    Property Features for 224 Ohio St

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Zoning
    M1-light Industrial Districts
    Interior features
    Open Space
    Exterior features
    Overhead Door
    Standard status
    Active
    APN
    P43-012-0-0132-00
    Size
    2,500 SF
    Lot size
    0.56 Acres

    Taxes and HOA fees

    Tax Annual Amount
    259.72

    Utilities

    Heating system
    Electric (Heating), Forced Air, Heat Pump (Heating)

    Building Details

    Year built
    1994
    Flooring type
    Concrete
    Building materials
    Block, Vinyl Siding
    Roof type
    Fiberglass, Shingle
    Architectural style
    Other

    We can help!

    Listing Contact
    Tyler Jarvis

    Listing agent Tyler Jarvis

    Listing office Coldwell Banker Ward Real Estate 600 E. Main Street, Ashland, OH

    Listing date Mar 2, 2026

    MLS# 230842 Listing URL

    Copyright © 2026 Ashland 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.

    Overview

    Commercial Flex Space in Ashland

    This 2,500 square foot flex space building is located in Ashland, Ohio. The property is zoned M1-light Industrial Districts. It features two separate office spaces and two private restrooms. The building includes two 8'x8' overhead doors. The lot size is 0.56 acres. This property could accommodate any use needed.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Flex space

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Gym & Fitness Center Building Supply Accounting Firm

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

    Similar Places Nearby

    • Bella's 220 — 121 Church St, Ashland, OH 44805

    Location Insight

    • Map
    • Local Demand
    City
    Ashland
    County
    Ashland
    State
    Ohio
    Longitude
    -82.3200209
    Latitude
    40.8750882

    Nearby Similar for Sale

    • $799,000
      1,260 SF

      Thriving Business in Prime Location

      Established business near Ashland University and downtown shopping/dining district.
      601 Claremont Avenue, Ashland, OH 44805
      View Details
    • $650,000
      6,400 SF

      Ashland Commercial Property with Two Buildings

      1.59 acre M-1 zoned property with two buildings.
      524 East 7th St, Ashland, OH 44805
      View Details
    • $3,600
      3,600 SF

      New Flexible Commercial Space

      3,600 sqft M1-zoned space suitable for various commercial uses.
      1703 Seddon Ct., Ashland, OH 44805
      View Details
    • $3,600
      3,600 SF

      New Flexible Commercial Space Available

      3,600 sqft M1-zoned unit suitable for various commercial purposes.
      1709 Seddon Ct., Ashland, OH 44805
      View Details
    • $3,600
      3,600 SF

      New Flexible Commercial Space

      New 3,600 sqft flexible commercial space for storage, manufacturing, retail.
      1713 Seddon Ct., Ashland, OH 44805
      View Details
    • $3,600
      3,600 SF

      New Flexible Commercial Space

      3,600 sqft M1-zoned unit suitable for various commercial uses.
      1707 Seddon Ct., Ashland, OH 44805
      View Details
    • $1,800
      1,800 SF

      New Flexible Commercial Space

      New 1,800 sqft flexible commercial space for various business needs.
      1711 Seddon Ct., Ashland, OH 44805
      View Details
    • $2,000
      2,200 SF

      Remodeled Office or Retail Space

      Completely remodeled commercial space with kitchen and private bathrooms.
      715 Cottage St, Ashland, OH 44805
      View Details
    • $800
      720 SF

      Office/Retail Space on Claremont Avenue

      720 SF office/retail space in Ashland, Ohio for sale.
      621 Claremont Ave., Ashland, OH 44805
      View Details
    • $1,100,000
      11,664 SF

      Ashland Multifamily Investment Opportunity

      12-unit residential complex near Ashland University and downtown.
      116-120 College Ave, Ashland, OH 44805
      View Details
    • $1,000
      1,000 SF

      Remodeled Retail or Office Space

      1,000 sq ft remodeled retail/office space in Ashland, OH.
      703 Cottage St, Ashland, OH 44805
      View Details
    • $3,300
      2,800 SF

      First Class Ashland Office Space

      Upscale office space with high-end finishes and included utilities.
      1000 Hedstrom Dr, Ashland, OH 44805
      View Details

    FAQs

    What type of property is this?
    Flex space - 2,500 sq ft flex space suitable for various uses.
    Where is this flex space located?
    The property is located at 224 Ohio St Ashland, OH.
    What is the asking price?
    The asking price for this property is Off market.
    What are key features of this property?
    This property features: 2,500 sq ft building suitable for various uses; Two separate office spaces; Two private restrooms
    (419) 606-9168
    We can help!
    Listing Contact
    Tyler Jarvis
    Learn More
    Request Owner's contact information
    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.
    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
    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

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!