Warehouse with Overhead Garage
For Sale
$385,000
113 E Kress Street, Russells Point, OH 43348
COMMERCIAL - Other - Russells Point, OH
Property Size4,000 SF
Lot Size0.54 Acres
Price / SF$120.31
Days on Market119
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
Natural Gas, Forced Air
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) 842-2244
Added: Apr 17
Changed: Aug 5
Last Checked: Aug 13 at 4:06AM
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 for-sale commercial property offers a total of 3,200 square feet with an additional 800 square feet on the second floor. The building includes two 12x17 overhead garage doors with electric openers, along with 6-inch concrete floors. On-site utilities include gas, electric, sewer, and water, and the property has LED lighting. The lot is fully fenced with 4x4 wire fencing and includes a header for an awning.
The property also includes living quarters with an open-concept kitchen/living room, a full bath, and a large bedroom, plus in-unit amenities such as a washer/dryer, slop sink, and hot water heater.
Zoned M1, the listing notes that residential use may be possible with zoning approval, including the potential for an R2 (medium density residential) change.
The property also includes living quarters with an open-concept kitchen/living room, a full bath, and a large bedroom, plus in-unit amenities such as a washer/dryer, slop sink, and hot water heater.
Zoned M1, the listing notes that residential use may be possible with zoning approval, including the potential for an R2 (medium density residential) change.
Key Highlights
- 3,200 sq. ft. commercial building with an 800 sq. ft. second floor in Russells Point
- 0.75‑acre fenced lot with 4x4 wire fencing and fenced perimeter for added security
- Two 12x17 overhead garage doors with electric openers
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
$20,469
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
5.32%
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%
$409,380
$409.4K
Cap Rate 7%
$292,414
$292.4K
Cap Rate 9%
$227,433
$227.4K
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
$25.7K $8.04/SF
− Vacancy
−$1.6K −$0.51/SF
EGI
$24.1K $7.53/SF
− OpEx
−$3.6K −$1.13/SF
NOI
$20.5K $6.40/SF
Area
Montgomery County, OH
Vacancy
6.40%
Lease Rate
$8.04 /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%
$409,380
Cap Rate 7%
$292,414
Cap Rate 9%
$227,433
Alternative Uses
Best Use
Warehouse
$292.4K
$255.9K – $341.2K
NOI $20,469 @ 7.0% cap · market cap 5.32%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$30.27M
$26.48M – $35.31M
NOI $2,118,614 @ 7.0% cap · market cap 550.29%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
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
Balanced
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
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Schuler Marina Inc. — Russells Point, OH 43348
- Lake Life Storage — Washington Township, OH 43348
Frequently Asked Questions
What type of property is this?
Warehouse - Warehouse property includes two electric overhead doors, a fenced lot, and utilities with living quarters on-site.
Where is this warehouse 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 sq. ft. commercial building with an 800 sq. ft. second floor in Russells Point; 0.75‑acre fenced lot with 4x4 wire fencing and fenced perimeter for added security; Two 12x17 overhead garage doors with electric openers
