Fenced Flex Space with Overhead
For Sale
$385,000
113 E Kress Street, Russells Point, OH 43348
Commercial Sale, Russells Point, OH
Property Size4,000 SF
Lot Size0.54 Acres
Price / SF$120.31
Days on Market164
Property Features for 113 E Kress Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
Commercial
Security features
Security Lighting
Interior features
Ceiling Fan(s)
Exterior features
Overhead Door(s)
Fencing
Fenced
Appliances
Dryer, Range, Refrigerator, Washer
Subdivision
Nichelson South
Lot features
Building Restrictions
Directions
State Route 708 to Kress St. (across from the Russells Point post office).
Standard status
Active
APN
520321333001006
Size
3,200 SF
Lot size
0.54 Acres
Taxes and HOA fees
Tax Year
2024
Utilities
Sewer type
Public Sewer
Heating system
Forced Air, Natural Gas
Building Details
Year built
2015
Building materials
Metal Siding
Architectural style
Other
Listing Agency:
Choice Properties Real Estate
(937) 842-2244
Listed By:
Diane (Teri) P. Frymyer
(937) 843-9400
Added: Apr 17
Changed: Sep 15
Last Checked: Sep 27 at 6:06AM
MLS# 1045057
Copyright © 2026 Western Regional Information System & Technology, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 3,200-square-foot flex property in Russells Point was built in 2015 and offers a metal-sided commercial building with two overhead garage doors, 6-inch concrete floors, LED lighting, and a fully enclosed wire fence. The interior includes open-concept kitchen and living areas, a full bathroom, a large bedroom, ceiling fans, and a slop sink. Appliances include a range, refrigerator, washer, and dryer.
The property is located at 113 E Kress Street and is served by public sewer, natural gas, and electric service. M1 zoning supports its commercial use. The building also includes an awning header and electric door openers, providing practical features for storage, workshop, or business operations.
The property is located at 113 E Kress Street and is served by public sewer, natural gas, and electric service. M1 zoning supports its commercial use. The building also includes an awning header and electric door openers, providing practical features for storage, workshop, or business operations.
Key Highlights
- 3,200 SF commercial flex property built in 2015
- Two 12x17 overhead garage doors with electric openers
- M1 zoning with gas, electric, sewer, and water on‑site
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
$15,967
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
4.15%
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%
$319,340
$319.3K
Cap Rate 7%
$228,100
$228.1K
Cap Rate 9%
$177,411
$177.4K
Market Conditions
NOI Build-Up for 3,200 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
$20.5K $6.41/SF
− Vacancy
−$1.7K −$0.54/SF
EGI
$18.8K $5.87/SF
− OpEx
−$2.8K −$0.88/SF
NOI
$16.0K $4.99/SF
Area
Logan 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%
$319,340
Cap Rate 7%
$228,100
Cap Rate 9%
$177,411
Alternative Uses
Best Use
Warehouse
$228.1K
$199.6K – $266.1K
NOI $15,967 @ 7.0% cap · market cap 4.15%
Second Best
Industrial
$187.8K
$164.4K – $219.2K
NOI $13,149 @ 7.0% cap · market cap 3.42%
Theoretical Best
Office A
$646.0K
$565.2K – $753.6K
NOI $45,217 @ 7.0% cap · market cap 11.74%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Drive-in doors
Yes
Fenced yard
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
158
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 43348, OH
1,880
Population
1,498
Households
1.3
Avg Household Size
47
Median Age
18%
College-Educated
86%
High-School Grad
2.3 sq mi
ZIP Area
817
Density / Sq Mi
$50,658
Median Household Income
$32,132
Median Earnings
$763
Median Rent
$147,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - M1-zoned commercial property with on-site utilities, durable flooring, and existing living quarters.
Where is this flex space located?
The property is located at 113 E Kress Street Russells Point, OH.
What is the asking price?
The asking price for this property is $385,000.
What are key features of this property?
This property features: 3,200 SF commercial flex property built in 2015; Two 12x17 overhead garage doors with electric openers; M1 zoning with gas, electric, sewer, and water on‑site
