Flex Building with Truck
For Sale
$699,900
10 Hunter Place, Bellefontaine, OH 43311
Commercial Sale, Bellefontaine, OH
Property Size8,000 SF
Lot Size1.26 Acres
Price / SF$87.49
Days on Market48
Property Features for 10 Hunter Place
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
Business
Parking
30
Subdivision
Crossroads
Lot features
Survey
Directions
N. Main (U.S. 68) to Reynolds Ave. Right on Hunter Place
Standard status
Active
APN
170770000021001
Size
8,000 SF
Lot size
1.26 Acres
Taxes and HOA fees
Tax Year
2025
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas, Forced Air
Cooling system
Central Air
Amenities
sleeping rooms with shower
generator system
Building Details
Year built
1992
Building materials
Metal Siding
Listing Agency:
Bell Hankins Realty Group, LLC
Listed By:
Jeremy G. Hankins · License #445871
(937) 935-2450
Added: Aug 4
Changed: Sep 2
Last Checked: Sep 20 at 6:06AM
MLS# 1047540
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 8,000-square-foot flex building in Bellefontaine combines dedicated office space with eight heated truck bays. The steel-framed structure includes five offices, two restrooms, a shared office area, two sleeping rooms, and a shower. Each bay has a 12-foot-tall overhead door, and the property also includes a generator system, concrete driveway, rear parking, metal siding, natural gas forced-air heat, central air, and public sewer.
Located at 10 Hunter Place on the north side of Bellefontaine, the 1.26-acre property is zoned B-3. The office portion is leased, while the enclosed bays provide space for truck-related operations, storage, or separate business occupancy as supported by the existing configuration.
Located at 10 Hunter Place on the north side of Bellefontaine, the 1.26-acre property is zoned B-3. The office portion is leased, while the enclosed bays provide space for truck-related operations, storage, or separate business occupancy as supported by the existing configuration.
Key Highlights
- 8,000‑square‑foot flex building on 1.26 acres
- Eight heated truck bays with 12‑foot‑tall overhead doors
- Five offices, two restrooms, common office area, two sleeping rooms, and a shower
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
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Open Analytics
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Steel-framed commercial property combines office accommodations with heated service and storage bays.
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 flex building on 1.26 acres; Eight heated truck bays with 12‑foot‑tall overhead doors; Five offices, two restrooms, common office area, two sleeping rooms, and a shower
