Renovated Office
For Sale
$249,000
11025 Hebron Road, Buckeye Lake, OH 43008
Updated interior with kitchen appliances, refreshed bath, and General Business zoning supports office or other business use.
Property Size986 SF
Days on Market84
Property Features for 11025 Hebron Road
General Information
Standard status
Active
Size
986 SF
Total Parking Spaces
4
Property subtype
Commercial
Zoning
General Busines
Taxes and HOA fees
Annual Taxes
$2,689
Building Details
Building Size
986 SF
Year Built
1946
Listing Agency:
Howard Hanna Real Estate Svcs
(740) 814-0166
Listed By:
Lisa Stewart
(740) 814-0166
Source:
Carolgoffrealestate
Added: Jun 9
Changed: Aug 29
Last Checked: Aug 30 at 5:44PM
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 Howard Hanna Real Estate Svcs
Investment Insights
Based on property information with market context.
This office unit is housed in a cottage-style property originally built in 1946 and has been completely redone with quality materials. Improvements include new LVP flooring, fresh paint, new cabinets, kitchen appliances, and an updated bathroom. The rooms are described as good sized, and the property may accommodate office space, a short-term rental, or another use permitted under General Business zoning.
The property is located along 79 entering Buckeye Lake Village, within walking distance of the lake, boat ramp, and a four-mile waterfront bike path. Nearby amenities include dining and a market. The Buckeye Lake waterfront area also offers a beach, calm waters on Crane Lake for kayaking and fishing, and plans underway for improvements to the North Shore boat ramp, Picnic Park, guest boat docks, beach, parking, and a large lake pier.
The property is located along 79 entering Buckeye Lake Village, within walking distance of the lake, boat ramp, and a four-mile waterfront bike path. Nearby amenities include dining and a market. The Buckeye Lake waterfront area also offers a beach, calm waters on Crane Lake for kayaking and fishing, and plans underway for improvements to the North Shore boat ramp, Picnic Park, guest boat docks, beach, parking, and a large lake pier.
Key Highlights
- Completely redone property with new LVP flooring, fresh paint, cabinets, appliances, and an updated bath
- General Business zoning in Buckeye Lake Village
- Located along 79 entering Buckeye Lake Village
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
$12,140
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
4.88%
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%
$242,800
$242.8K
Cap Rate 7%
$173,429
$173.4K
Cap Rate 9%
$134,889
$134.9K
Market Conditions
NOI Build-Up for 986 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
$21.3K $21.60/SF
− Vacancy
−$5.1K −$5.18/SF
EGI
$16.2K $16.42/SF
− OpEx
−$4.0K −$4.10/SF
NOI
$12.1K $12.31/SF
Area
Licking County, OH
Vacancy
24.00%
Lease Rate
$21.60 /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%
$242,800
Cap Rate 7%
$173,429
Cap Rate 9%
$134,889
Alternative Uses
Best Use
Office B
$173.4K
$151.8K – $202.3K
NOI $12,140 @ 7.0% cap · market cap 4.88%
Second Best
Apartment 5plus
$129.0K
$112.9K – $150.5K
NOI $9,030 @ 7.0% cap · market cap 3.63%
Theoretical Best
Flex RnD
$791.9K
$692.9K – $923.9K
NOI $55,431 @ 7.0% cap · market cap 22.26%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
156
Businesses Nearby
Explore this area
Business Placement
Demographics for 43008, OH
2,378
Population
1,331
Households
1.8
Avg Household Size
46
Median Age
13%
College-Educated
82%
High-School Grad
1.5 sq mi
ZIP Area
1,585
Density / Sq Mi
$82,750
Median Household Income
$50,179
Median Earnings
$920
Median Rent
$157,100
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office units - Updated interior with kitchen appliances, refreshed bath, and General Business zoning supports office or other business use.
Where is this office units located?
The property is located at 11025 Hebron Road Buckeye Lake, OH.
What is the asking price?
The asking price for this property is $249,000.
What are key features of this property?
This property features: Completely redone property with new LVP flooring, fresh paint, cabinets, appliances, and an updated bath; General Business zoning in Buckeye Lake Village; Located along 79 entering Buckeye Lake Village
