Land with 24x24
For Sale
$40,000
Pending
1015 Nevada Rd, Bucyrus, OH 44820
Residential and commercial buildable lot with a 24-by-24 building and access to city utilities.
Property Size576 SF
Lot Size0.95 Acres
Days on Market28
Property Features for 1015 Nevada Rd
General Information
Standard status
Pending
Size
576 SF
Lot size
0.95 Acres
Property subtype
Land
Additional Details
Utilities to Site
Yes
Taxes and HOA fees
Annual Taxes
$763
Listing Agency:
Haring Realty, Inc.
(419) 834-5862
Listed By:
Brittany Von Stein
(419) 834-5862
Source:
Exprealty
Added: Jul 17
Changed: Aug 8
Last Checked: Jul 24 at 5:09AM
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 Haring Realty, Inc.
Investment Insights
Based on property information with market context.
This for-sale lot offers 0.95 acres with an existing 24' x 24' building on site. The property includes access to all city utilities, supporting a range of development and site improvement plans.
Located at 1015 Nevada Rd in Bucyrus, Ohio, the property is near Aumiller Park and close to schools and local amenities.
The sale also includes a 1969 Lincoln Continental, adding value beyond the real estate itself.
Located at 1015 Nevada Rd in Bucyrus, Ohio, the property is near Aumiller Park and close to schools and local amenities.
The sale also includes a 1969 Lincoln Continental, adding value beyond the real estate itself.
Key Highlights
- 0.95‑acre lot at 1015 Nevada Rd, Bucyrus, OH, located near Aumiller Park
- Includes a 24' x 24' building
- Access to all city utilities for convenient development
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
$2,874
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
7.19%
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%
$57,480
$57.5K
Cap Rate 7%
$41,057
$41.1K
Cap Rate 9%
$31,933
$31.9K
Market Conditions
NOI Build-Up for 576 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
$3.7K $6.41/SF
− Vacancy
−$311 −$0.54/SF
EGI
$3.4K $5.87/SF
− OpEx
−$507 −$0.88/SF
NOI
$2.9K $4.99/SF
Area
Crawford 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%
$57,480
Cap Rate 7%
$41,057
Cap Rate 9%
$31,933
Alternative Uses
Best Use
Warehouse
$41.1K
$35.9K – $47.9K
NOI $2,874 @ 7.0% cap · market cap 7.19%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$112.9K
$98.8K – $131.7K
NOI $7,904 @ 7.0% cap · market cap 19.76%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
609
Businesses Nearby
Explore this area
Business Placement
Demographics for 44820, OH
17,114
Population
7,982
Households
2.1
Avg Household Size
45
Median Age
14%
College-Educated
91%
High-School Grad
160.6 sq mi
ZIP Area
107
Density / Sq Mi
$56,942
Median Household Income
$38,073
Median Earnings
$742
Median Rent
$134,100
Median Home Value
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential land & home lot - Residential and commercial buildable lot with a 24-by-24 building and access to city utilities.
Where is this residential land & home lot located?
The property is located at 1015 Nevada Rd Bucyrus, OH.
What is the asking price?
The asking price for this property is $40,000.
What are key features of this property?
This property features: 0.95‑acre lot at 1015 Nevada Rd, Bucyrus, OH, located near Aumiller Park; Includes a 24' x 24' building; Access to all city utilities for convenient development
