Flex Building with Truck
For Sale
$699,900
10 Hunter Place, Bellefontaine, OH 43311
Steel-framed commercial property combines office areas, heated vehicle bays, and B-3 zoning.
Property Size8,000 SF
Price / SF$87.49
Days on Market14
Property Features for 10 Hunter Place
General Information
Standard status
Active
Size
8,000 SF
Property subtype
General Commercial
Zoning
B-3
Additional Details
Gross Income
$42,000
Drive-In Doors
8
Taxes and HOA fees
Annual Taxes
$7,720
Amenities
sleeping rooms with shower
generator
3
30 Parking Spaces.
Building Details
Year Built
1992
Buildings
1
Building Size
8,000 SF
Construction
steel frame
Listing Agency:
Bell Hankins Realty Group, LLC
(937) 935-2450
Listed By:
Jeremy Hankins · License #445871
(937) 935-2450
Source:
Xome
Added: Jul 29
Changed: Aug 11
Last Checked: Aug 11 at 5:48AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Bell Hankins Realty Group, LLC
Investment Insights
Based on property information with market context.
This 8,000-square-foot flex property, built in 1992, combines office and vehicle-service components within a steel-framed building. The office portion includes five offices, two restrooms, a shared office area, and two sleeping rooms with a shower. Eight heated truck bays are fitted with 12-foot-tall overhead doors, while a generator system supports the building’s improvements.
Exterior features include steel siding, a concrete driveway, and additional rear parking. The property also provides 30 parking spaces and is zoned B-3. Its location on the north side of Bellefontaine adds a defined local setting for the commercial facility.
Exterior features include steel siding, a concrete driveway, and additional rear parking. The property also provides 30 parking spaces and is zoned B-3. Its location on the north side of Bellefontaine adds a defined local setting for the commercial facility.
Key Highlights
- 8,000‑square‑foot steel‑framed flex building constructed in 1992
- 8 heated truck bays with 12‑foot‑tall overhead doors
- Office layout includes 5 offices, 2 restrooms, and a common office area
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
$39,918
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
5.70%
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%
$798,360
$798.4K
Cap Rate 7%
$570,257
$570.3K
Cap Rate 9%
$443,533
$443.5K
Market Conditions
NOI Build-Up for 8,000 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
$51.3K $6.41/SF
− Vacancy
−$4.3K −$0.54/SF
EGI
$47.0K $5.87/SF
− OpEx
−$7.0K −$0.88/SF
NOI
$39.9K $4.99/SF
Area
Logan County, OH
Vacancy
8.42%
Lease Rate
$6.41 /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%
$798,360
Cap Rate 7%
$570,257
Cap Rate 9%
$443,533
Alternative Uses
Best Use
Office B
$1.40M
$1.23M – $1.64M
NOI $98,306 @ 7.0% cap · market cap 14.05%
Second Best
Warehouse
$570.3K
$499.0K – $665.3K
NOI $39,918 @ 7.0% cap · market cap 5.70%
Theoretical Best
Office A
$1.61M
$1.41M – $1.88M
NOI $113,042 @ 7.0% cap · market cap 16.15%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
8
Drive-in doors
Location Intelligence
Trade Area within ½ mile
337
Businesses Nearby
Balanced
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 Office in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Flex space - Steel-framed commercial property combines office areas, heated vehicle bays, and B-3 zoning.
Where is this flex space located?
The property is located at 10 Hunter Place Bellefontaine, OH.
What is the asking price?
The asking price for this property is $699,900.
What are key features of this property?
This property features: 8,000‑square‑foot steel‑framed flex building constructed in 1992; 8 heated truck bays with 12‑foot‑tall overhead doors; Office layout includes 5 offices, 2 restrooms, and a common office area
