Commercial Property with Detached
11915 State Route 235 Lakeview, OH 43331
11915 State Route 235, Lakeview, OH, 43331
Contact for pricing
For Sale
Contact for pricing
Pending
Commercially zoned property on State Route 235 with a heated office in a detached two-car garage.
Property Size1,584 SF
Days on Market608
Property Features for 11915 State Route 235
General Information
- Standard status
- Pending
- Size
- 1,584 SF
- Property subtype
- Retail, Land, Office, Multifamily
Building Details
- Year Built
- 1974
Listing agency
Choice Properties Real Estate
(937) 842-2244
Listed by
Tina Pearson · License #2004002212
Source
Crexi
Added: Nov 21, 2024 Updated: Jul 21 at 11:24PM Checked: Jul 21 at 11:24PM
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 Choice Properties Real Estate
Investment Insights
Based on property information with market context.
This for-sale commercial property offers a residential structure that could be divided into two units, with a 2 bed/1.5 bath layout and a separate 1 bed/1 bath layout. Additional improvements include a detached 30 x 26 two-car garage with a heated office space. A parking lot on-site can accommodate multiple vehicles, supporting flexible small-business operations.
The property is positioned for high visibility on State Route 235. It is also located near Indian Lake and the Blackhawk boat ramp, providing convenient access to the surrounding recreational area.
With commercial zoning and on-site parking, the asset may fit a variety of small business uses while also retaining residential income potential through the possible two-unit configuration.
The property is positioned for high visibility on State Route 235. It is also located near Indian Lake and the Blackhawk boat ramp, providing convenient access to the surrounding recreational area.
With commercial zoning and on-site parking, the asset may fit a variety of small business uses while also retaining residential income potential through the possible two-unit configuration.
Key Highlights
- Commercially zoned property on State Route 235 with high visibility
- Nearly 1 acre zoned commercial
- 30x26 detached 2‑car garage includes heated office space
Local Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $34.1k | $21.53 |
| − Vacancy | −$8.2k | −$5.15 |
| EGI | $26.0k | $16.38 |
| − OpEx | −$6.5k | −$4.10 |
| NOI | $19.5k | $12.29 |
1,584 SF · lease $21.53/SF/yr · vacancy 23.90% · expense 25.00%
Alternative Uses
Best Use
Office B
$278.1K
$243.3K – $324.4K
NOI $19,465 @ 7.0% cap · market cap 6.95%
Second Best
Multifamily LT 5
$76.8K
$67.2K – $89.6K
NOI $5,376 @ 7.0% cap · market cap 1.92%
Theoretical Best
Office A
$319.7K
$279.8K – $373.0K
NOI $22,382 @ 7.0% cap · market cap 7.99%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Duplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Duplex - Commercially zoned property on State Route 235 with a heated office in a detached two-car garage.
Where is this duplex located?
The property is located at 11915 State Route 235 Lakeview, OH.
What is the asking price?
The asking price for this property is $280,000.
What are key features of this property?
This property features: Commercially zoned property on State Route 235 with high visibility; Nearly 1 acre zoned commercial; 30x26 detached 2‑car garage includes heated office space
