Mechanics Shop with Office
101 Academy Street New Lexington, OH 43764
For Sale
$225,000
Three-building automotive property includes mechanics shop, office/workshop space, and a storage building with a bedroom and bathroom.
Property Size1,200 SF
Price / SF$187.50
Days on Market162
Property Features for 101 Academy Street
General Information
- Standard status
- Active
- Size
- 1,200 SF
- Property subtype
- Industrial / Mixed Use
Building Details
- Year Built
- 1964
Listing Agency:
SAYRE SEALS & MCMILLAN REAL ESTATE LLC
(740) 621-0555
Listed By:
Jeremy Seals · License #2016001814
(740) 621-0555
Source:
Compass
Added: Feb 12
Changed: Jul 23
Last Checked: Jul 23 at 3:29PM
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 SAYRE SEALS & MCMILLAN REAL ESTATE LLC
Investment Insights
Based on property information with market context.
This for-sale automotive property features three separate buildings that have been used as a mechanics shop. The layout includes one building used for storage, with a bedroom and bathroom, along with other buildings that provided office space and workshop areas.
The property is located just off Route 37, across the railroad tracks behind the fairgrounds.
The seller is leaving several items to help the next business get started, including a lift, office furniture, a tire balancer, and shelving units.
The property is located just off Route 37, across the railroad tracks behind the fairgrounds.
The seller is leaving several items to help the next business get started, including a lift, office furniture, a tire balancer, and shelving units.
Key Highlights
- Three‑building automotive property used as a mechanics shop, with office/workshop and a storage building
- One building includes a bedroom and bathroom, and the other buildings were used for office space and workshop areas
- Seller will leave the lift, office furniture, tire balancer, and shelving units
Financial Insights For Warehouse
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $26.2k | $21.84 |
| − Vacancy | −$6.3k | −$5.24 |
| EGI | $19.9k | $16.60 |
| − OpEx | −$3.0k | −$2.49 |
| NOI | $16.9k | $14.11 |
1,200 SF · lease $21.84/SF/yr · vacancy 24.00% · expense 15.00%
Alternative Uses
Best Use
Warehouse
$241.9K
$211.6K – $282.2K
NOI $16,930 @ 7.0% cap · market cap 7.52%
Second Best
Industrial
$199.2K
$174.3K – $232.4K
NOI $13,943 @ 7.0% cap · market cap 6.20%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Auto shops
Similar Off Market Nearby
- Shriner automotive llc — 127 Union St, New Lexington, OH 43764
- Ray's Body Shop LLC — 601 N Pleasant St, New Lexington, OH 43764
- Cycle Works — 624 W Broadway St #9578, New Lexington, OH 43764
- Smock Performance Center — 218 W Broadway St, New Lexington, OH 43764
- SNT KARKARE — 228 W Broadway St, New Lexington, OH 43764
FAQs
What type of property is this?
Auto shop - Three-building automotive property includes mechanics shop, office/workshop space, and a storage building with a bedroom and bathroom.
Where is this auto shop located?
The property is located at 101 Academy Street New Lexington, OH.
What is the asking price?
The asking price for this property is $225,000.
What are key features of this property?
This property features: Three‑building automotive property used as a mechanics shop, with office/workshop and a storage building; One building includes a bedroom and bathroom, and the other buildings were used for office space and workshop areas; Seller will leave the lift, office furniture, tire balancer, and shelving units
