Commercial Land with Existing
For Sale
$395,000
10451049 Main Street, Bellefontaine, OH 43311
Three parcels with B2 and B3 zoning, a paved parking lot, and an existing professional building.
Property Size1,625 SF
Price / SF$243.08
Days on Market70
Property Features for 10451049 Main Street
General Information
Standard status
Active
Size
1,625 SF
Property subtype
General Commercial
Taxes and HOA fees
Annual Taxes
$1,121
Amenities
Central Air
3
Parking.
Lot.
3 parcels
City Road, US Highway, Paved Road, Public Roads, Asphalt.
Building Details
Year Built
1930
Listing Agency:
Key Realty
(877) 539-7589
Listed By:
Malia Hughes · License #2008001822
(877) 539-7589
Source:
Xome
Added: Jun 1
Changed: Aug 8
Last Checked: Aug 8 at 4:12AM
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 Key Realty
Investment Insights
Based on property information with market context.
This commercial land offering combines three parcels totaling approximately one acre with an existing professional building at 1045-1049 Main Street in Bellefontaine. The building was constructed in 1930 and includes central air, office areas, retail space, studio space, and showroom space. Updates have been completed, and a paved parking lot serves the property.
The site is actively zoned B2 and B3 and is positioned at the north end of the city along Main Street. Access to State Route 33 and public paved roads supports connectivity for commercial users. The property also offers exposure from a city road and US Highway, with potential applications including office, retail, service, and redevelopment uses as supported by the zoning and existing improvements.
The site is actively zoned B2 and B3 and is positioned at the north end of the city along Main Street. Access to State Route 33 and public paved roads supports connectivity for commercial users. The property also offers exposure from a city road and US Highway, with potential applications including office, retail, service, and redevelopment uses as supported by the zoning and existing improvements.
Key Highlights
- Three parcels totaling approximately one acre
- Active B2 and B3 zoning
- Existing professional building constructed in 1930
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
$19,968
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
5.06%
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%
$399,360
$399.4K
Cap Rate 7%
$285,257
$285.3K
Cap Rate 9%
$221,867
$221.9K
Market Conditions
NOI Build-Up for 1,625 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
$35.0K $21.53/SF
− Vacancy
−$8.4K −$5.15/SF
EGI
$26.6K $16.38/SF
− OpEx
−$6.7K −$4.10/SF
NOI
$20.0K $12.29/SF
Area
Logan County, OH
Vacancy
23.90%
Lease Rate
$21.53 /SF/Yr
Expense Ratio
25.00%
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%
$399,360
Cap Rate 7%
$285,257
Cap Rate 9%
$221,867
Alternative Uses
Best Use
Office B
$285.3K
$249.6K – $332.8K
NOI $19,968 @ 7.0% cap · market cap 5.06%
Second Best
Retail
$90.9K
$79.5K – $106.0K
NOI $6,361 @ 7.0% cap · market cap 1.61%
Theoretical Best
Office A
$328.0K
$287.0K – $382.7K
NOI $22,962 @ 7.0% cap · market cap 5.81%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
245
Businesses Nearby
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
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Frequently Asked Questions
What type of property is this?
Commercial land - Three parcels with B2 and B3 zoning, a paved parking lot, and an existing professional building.
Where is this commercial land located?
The property is located at 10451049 Main Street Bellefontaine, OH.
What is the asking price?
The asking price for this property is $395,000.
What are key features of this property?
This property features: Three parcels totaling approximately one acre; Active B2 and B3 zoning; Existing professional building constructed in 1930
