Zanesville Commercial Property with
For Sale
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999 Zane St, Zanesville, OH
Commercial property with office, showroom, and warehouse space for sale.
Property Size33,712 SF
Lot Size8.30 Acres
Price / SF$50.43
Days on Market1078
Property Features for 999 Zane St
General Information
Standard status
Active
Size
33,712 SF
Lot size
8.30 Acres
Property subtype
INDUSTRIAL
Listing Agency:
SHAI-Hess Commercial Real Estate
(740) 587-7441
Listed By:
J. Park Shai III
(740) 404-0665
Source:
Moodyscre
Added: Oct 4, 2023
Changed: Sep 14
Last Checked: Sep 14 at 10:32AM
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 SHAI-Hess Commercial Real Estate
Investment Insights
Based on property information with market context.
This commercial property is located in Zanesville, Ohio, just off State Route 60 and a quarter mile from Interstate 70. The property, subject to lot split and approval by local governing offices, is approximately 2.5 acres. The main office and showroom building offers 5,925 square feet of space. The property also includes second-floor offices and a warehouse with three docks. The warehouse features eleven 14-foot garage doors, 16-foot ceilings, and a five-bay garage with 11-foot doors. The total property size is 33,712 square feet.
Key Highlights
- Prime commercial location: Just off SR‑60 and 1/4 mile to I‑70 in Zanesville.
- Substantial warehouse space: Features (11) 14' garage doors and 16' ceilings.
- Includes 3 docks for efficient loading and unloading.
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
$127,631
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
7.51%
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%
$2,552,620
$2.6M
Cap Rate 7%
$1,823,300
$1.8M
Cap Rate 9%
$1,418,122
$1.4M
Market Conditions
NOI Build-Up for 33,712 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
$214.4K $6.36/SF
− Vacancy
−$18.1K −$0.54/SF
EGI
$196.4K $5.82/SF
− OpEx
−$68.7K −$2.04/SF
NOI
$127.6K $3.79/SF
Area
Muskingum County, OH
Vacancy
8.42%
Lease Rate
$6.36 /SF/Yr
Expense Ratio
35.00%
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%
$2,552,620
Cap Rate 7%
$1,823,300
Cap Rate 9%
$1,418,122
Alternative Uses
Best Use
Warehouse
$3.62M
$3.16M – $4.22M
NOI $253,179 @ 7.0% cap · market cap 14.89%
Second Best
Industrial
$2.98M
$2.61M – $3.48M
NOI $208,500 @ 7.0% cap · market cap 12.26%
Theoretical Best
Office A
$7.32M
$6.40M – $8.54M
NOI $512,185 @ 7.0% cap · market cap 30.13%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
725
Businesses Nearby
Balanced
Demand for This Use
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Business Placement
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in Midwest region
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Similar Off Market Nearby
- ABC Mini Storage — 1071 Linden Ave, Zanesville, OH 43701
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- Flagg Mini-Storage — 300 Adair Avenue, 1901 Hoge Ave, Zanesville, OH 43701
Frequently Asked Questions
What type of property is this?
Warehouse - Commercial property with office, showroom, and warehouse space for sale.
Where is this warehouse located?
The property is located at 999 Zane St Zanesville, OH.
What is the asking price?
The asking price for this property is $1,700,000.
What are key features of this property?
This property features: Prime commercial location: Just off SR‑60 and 1/4 mile to I‑70 in Zanesville.; Substantial warehouse space: Features (11) 14' garage doors and 16' ceilings.; Includes 3 docks for efficient loading and unloading.
