10862 Mill Dam Road, Hebron, OH 43025

Building Details

Building Size 1,473 SF More

Buildings 2 More

Stories 1 More

Listing Agency: Coldwell Banker Realty m***@cbrealty.com Show Phone

Listed By: Denisse Kimble Show Phone

Source: Douglaskeycresolutions

Added: Nov 30, 2025 Changed: Nov 7 Last Checked: Nov 10 at 5:21PM

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Review the available facts, identify missing information and prepare questions for the agent.

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Investment Insights

Based on property information with market context.

This flex property includes a 1,473-square-foot main building with a kitchen and one bathroom, plus a separate 30-by-40-foot outbuilding. The secondary structure has high ceilings, a large overhead door, and a concrete floor. The property is offered as-is, and the two parcels are zoned GB.

Gravel parking serves the site, which is on Mill Dam Road in Hebron and described as minutes from Buckeye Lake. The main building and outbuilding provide distinct spaces for commercial activity and storage.

Key Highlights

• 1,473‑square‑foot main building with kitchen and one bathroom
• Separate 30‑by‑40‑foot outbuilding with high ceilings, large overhead door, and concrete floor
• Two parcels zoned GB

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$17,115

Cap Rate

3.81%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$342,300 $342.3K

Cap Rate 7%

$244,500 $244.5K

Cap Rate 9%

$190,167 $190.2K

Is this asking price fair?

Market Conditions

NOI Build-Up for 1,473 SF

Gross rent

$32.2K $21.84/SF

− Vacancy

−$7.7K −$5.24/SF

EGI

$24.4K $16.60/SF

− OpEx

−$7.3K −$4.98/SF

NOI

$17.1K $11.62/SF

Area

Licking County, OH

Vacancy

24.00%

Lease Rate

$21.84 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$342,300

Cap Rate 7%

$244,500

Cap Rate 9%

$190,167

Alternative Uses

Best Use

Industrial

$244.5K

$213.9K – $285.3K (±1% cap)

NOI $17,115 @ 7.0% cap · market cap 3.81%

Second Best

Flex RnD

$227.0K

$198.7K – $264.9K (±1% cap)

NOI $15,892 @ 7.0% cap · market cap 3.54%

Theoretical Best

Retail

$383.5K

$335.5K – $447.4K (±1% cap)

NOI $26,843 @ 7.0% cap · market cap 5.97%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Flex space

Suggested Use

Top Pick Building Supply Auto Repair Shop Big Box & Wholesale Store Furniture & Home Goods HVAC Service Nail Salon

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

96

Businesses Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Demographics for 43025, OH

5,541

Population

2,608

Households

2.1

Avg Household Size

46

Median Age

19%

College-Educated

93%

High-School Grad

35.5 sq mi

ZIP Area

156

Density / Sq Mi

$85,809

Median Household Income

$50,393

Median Earnings

$817

Median Rent

$262,800

Median Home Value

Market

Vacancy Rate% for Industrial in Midwest region

4.4% 2019

4.9% 2020

3.6% 2021

3.1% 2022

4.6% 2023

5% 2024

4.9% 2025

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Frequently Asked Questions

What type of property is this?

Flex space - A flexible primary building and separate outbuilding support a range of commercial configurations under GB zoning.

Where is this flex space located?

The property is located at 10862 Mill Dam Road Hebron, OH.

What is the asking price?

The asking price for this property is $449,500.

What are key features of this property?

This property features: 1,473‑square‑foot main building with kitchen and one bathroom; Separate 30‑by‑40‑foot outbuilding with high ceilings, large overhead door, and concrete floor; Two parcels zoned GB