Auto Shop with Two
For Sale
$649,000
Pending
8187 State Route 708, Russells Point, OH 43348
COMMERCIAL - Russells Point, OH
Property Size6,400 SF
Lot Size2.41 Acres
Days on Market293
Property Features for 8187 State Route 708
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
Commercial
Directions
USE GPS
Subdivision
902 Indian Lake
Standard status
Pending
APN
510320000008000
Size
6,400 SF
Lot size
2.41 Acres
Taxes and HOA fees
Tax Year
2024
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas, Forced Air, Oil
Cooling system
Central Air
Amenities
two office spaces
restroom
fully insulated workshop area
oil burner heat
four overhead doors
updated LED lighting
Building Details
Year built
2003
Flooring type
Vinyl
Building materials
Steel Siding
Listing Agency:
Binkley Real Estate, LLC
(419) 738-3232
Listed By:
Kurt Brandehoff
(419) 738-3232
Added: Oct 24, 2025
Changed: Aug 5
Last Checked: Aug 12 at 12:06PM
MLS# 1042193
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.
Auto shop and light industrial property with two separate buildings on 3 parcels totaling approximately 2.4 acres. The front building is 2,400 SF and is set up for retail or auto repair use, with two office spaces, a restroom, and a fully insulated workshop area. Heating is provided by an oil burner, and the shop includes two service bays with available car lifts and a tire changer.
The rear building totals 6,000 SF with four overhead doors, updated LED lighting, and a largely open layout suited for storage, manufacturing, equipment, fleet operations, or other flexible uses. The buildings are supported by central air cooling, and heating includes oil, natural gas, and forced air.
The property is offered with the possibility of being sold as separate parcels, providing flexibility for an owner-operator or a multi-use arrangement.
The rear building totals 6,000 SF with four overhead doors, updated LED lighting, and a largely open layout suited for storage, manufacturing, equipment, fleet operations, or other flexible uses. The buildings are supported by central air cooling, and heating includes oil, natural gas, and forced air.
The property is offered with the possibility of being sold as separate parcels, providing flexibility for an owner-operator or a multi-use arrangement.
Key Highlights
- Two‑building auto shop setup on 3 parcels totaling approximately 2.4 acres
- Front building: 2,400 SF with two office spaces, restroom, and fully insulated workshop area
- Front shop includes two service bays with available car lifts and a tire changer
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
$40,938
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
6.31%
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%
$818,760
$818.8K
Cap Rate 7%
$584,829
$584.8K
Cap Rate 9%
$454,867
$454.9K
Market Conditions
NOI Build-Up for 6,400 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
$51.5K $8.04/SF
− Vacancy
−$3.3K −$0.51/SF
EGI
$48.2K $7.53/SF
− OpEx
−$7.2K −$1.13/SF
NOI
$40.9K $6.40/SF
Area
Montgomery County, OH
Vacancy
6.40%
Lease Rate
$8.04 /SF/Yr
Expense Ratio
15.00%
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%
$818,760
Cap Rate 7%
$584,829
Cap Rate 9%
$454,867
Alternative Uses
Best Use
Retail
$1.06M
$930.4K – $1.24M
NOI $74,431 @ 7.0% cap · market cap 11.47%
Second Best
Warehouse
$584.8K
$511.7K – $682.3K
NOI $40,938 @ 7.0% cap · market cap 6.31%
Theoretical Best
Multifamily LT 5
$60.53M
$52.97M – $70.62M
NOI $4,237,229 @ 7.0% cap · market cap 652.89%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Service bays
Location Intelligence
Trade Area within ½ mile
159
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 43348, OH
1,880
Population
1,498
Households
1.3
Avg Household Size
47
Median Age
18%
College-Educated
86%
High-School Grad
2.3 sq mi
ZIP Area
817
Density / Sq Mi
$50,658
Median Household Income
$32,132
Median Earnings
$763
Median Rent
$147,900
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.
Similar Off Market Nearby
- Patriot’s Auto — 8187 OH-708, Russells Point, OH 43348
Frequently Asked Questions
What type of property is this?
Auto shop - Auto shop property with a heated, insulated workshop front building and a rear warehouse building with overhead doors.
Where is this auto shop located?
The property is located at 8187 State Route 708 Russells Point, OH.
What is the asking price?
The asking price for this property is $649,000.
What are key features of this property?
This property features: Two‑building auto shop setup on 3 parcels totaling approximately 2.4 acres; Front building: 2,400 SF with two office spaces, restroom, and fully insulated workshop area; Front shop includes two service bays with available car lifts and a tire changer
