Flex Condominium
For Sale
Contact for pricing
120 BUCKEYE BLVD A UNIT, Port Clinton, OH 43452
Business condominium units offer secure, adaptable space for storage, workshop activities, contractors, and small business operations.
Property Size1,000 SF
Price / SF$129.90
Days on Market16
Property Features for 120 BUCKEYE BLVD A UNIT
General Information
Standard status
Active
Size
1,000 SF
Class
A
Property subtype
Retail, Industrial, Self Storage
Zoning
General Business District
Investment Type
Owner/User
Building Details
Year Built
2026
Year Renovated
2026
Buildings
1
Stories
1
Units
3
Tenancy
Single
Listing Agency:
Parker Realty Associates
(614) 357-4320
Listed By:
Steven Osborn · License #2022005236
Source:
Crexi
Added: Aug 13
Changed: Aug 27
Last Checked: Aug 28 at 1:09PM
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 Parker Realty Associates
Investment Insights
Based on property information with market context.
This 2020 business condominium property provides flexible commercial space for storage, workshop use, contractor operations, small businesses, and supplemental shop needs. Available units measure approximately 1,000 to 1,250 square feet, offering a compact alternative to larger facilities while maintaining functional workspace.
Located at 120 Buckeye Boulevard in Port Clinton, Ohio, the property is designated within a General Business District. The unit configuration supports owner-users, local businesses, tradespeople, hobbyists, and growing operations seeking additional commercial space.
Located at 120 Buckeye Boulevard in Port Clinton, Ohio, the property is designated within a General Business District. The unit configuration supports owner-users, local businesses, tradespeople, hobbyists, and growing operations seeking additional commercial space.
Key Highlights
- Business condominium property built in 2020
- Available units range from approximately 1,000 to 1,250 square feet
- General Business District zoning
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
$4,990
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
3.84%
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%
$99,800
$99.8K
Cap Rate 7%
$71,286
$71.3K
Cap Rate 9%
$55,444
$55.4K
Market Conditions
NOI Build-Up for 1,000 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
$6.4K $6.41/SF
− Vacancy
−$540 −$0.54/SF
EGI
$5.9K $5.87/SF
− OpEx
−$881 −$0.88/SF
NOI
$5.0K $4.99/SF
Area
Ottawa 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%
$99,800
Cap Rate 7%
$71,286
Cap Rate 9%
$55,444
Alternative Uses
Best Use
Warehouse
$71.3K
$62.4K – $83.2K
NOI $4,990 @ 7.0% cap · market cap 3.84%
Second Best
Industrial
$58.7K
$51.4K – $68.5K
NOI $4,109 @ 7.0% cap · market cap 3.16%
Theoretical Best
Retail
$356.4K
$311.8K – $415.8K
NOI $24,946 @ 7.0% cap · market cap 19.20%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
228
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 43452, OH
13,443
Population
10,859
Households
1.2
Avg Household Size
52
Median Age
28%
College-Educated
93%
High-School Grad
46.2 sq mi
ZIP Area
291
Density / Sq Mi
$63,815
Median Household Income
$43,782
Median Earnings
$937
Median Rent
$206,800
Median Home Value
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 - Business condominium units offer secure, adaptable space for storage, workshop activities, contractors, and small business operations.
Where is this flex space located?
The property is located at 120 BUCKEYE BLVD A UNIT Port Clinton, OH.
What is the asking price?
The asking price for this property is $129,900.
What are key features of this property?
This property features: Business condominium property built in 2020; Available units range from approximately 1,000 to 1,250 square feet; General Business District zoning
