Versatile Commercial Property with
For Sale
$525,000
1200 S Hartshorn Rd, Lakeside-Marblehead, OH 43440
High-traffic location, M-1 zoning, ideal for various business uses.
Property Size4,800 SF
Price / SF$109.38
Days on Market91
Property Features for 1200 S Hartshorn Rd
General Information
Standard status
Active
Size
4,800 SF
Taxes and HOA fees
Annual Taxes
$2,799
Listing Agency:
Truth First Realty
(419) 680-6390
Listed By:
Steven G Lehmann · License #2010003176
(419) 680-6390
Source:
Exprealty
Added: May 26
Changed: Aug 23
Last Checked: Aug 22 at 4:37PM
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 Truth First Realty
Investment Insights
Based on property information with market context.
This commercial property is located in a high-traffic central location and is zoned M-1 Light Manufacturing Industrial, suitable for business owners and investors. It is ideal for automotive services, car detailing, storage, distribution, manufacturing, assembly, and mini-warehouse operations. The insulated main warehouse provides approximately 3,960 sq. ft. of space with 12-foot ceilings, concrete floors, lighting, forced air heat and cooling, and a 10x10 overhead garage door. The front office area offers approximately 840 sq. ft. of finished space, including a waiting room, conference room, private office, and flexible workspace. There are two restroom areas, one with a half bath and another with a shower and sink. The property is serviced by public water, a septic system, and an electric heat pump with propane backup. This well-maintained building offers functionality, visibility, and room to grow in an accessible location. The total property size is 4,800 sq. ft.
Key Highlights
- High‑traffic central location with M‑1 Light Manufacturing Industrial zoning
- Approximately 3,960 sq. ft. insulated warehouse with 12‑foot ceilings and 10x10 overhead garage door
- Approximately 840 sq. ft. of finished front office space including waiting room, conference room, and private office
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
$23,951
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
4.56%
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%
$479,020
$479.0K
Cap Rate 7%
$342,157
$342.2K
Cap Rate 9%
$266,122
$266.1K
Market Conditions
NOI Build-Up for 4,800 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
$30.8K $6.41/SF
− Vacancy
−$2.6K −$0.54/SF
EGI
$28.2K $5.87/SF
− OpEx
−$4.2K −$0.88/SF
NOI
$24.0K $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%
$479,020
Cap Rate 7%
$342,157
Cap Rate 9%
$266,122
Alternative Uses
Best Use
Retail
$1.71M
$1.50M – $2.00M
NOI $119,742 @ 7.0% cap · market cap 22.81%
Second Best
Mixed Use
$1.12M
$976.3K – $1.30M
NOI $78,100 @ 7.0% cap · market cap 14.88%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
10
Businesses Nearby
Explore this area
Business Placement
Demographics for 43440, OH
4,665
Population
6,605
Households
0.7
Avg Household Size
59
Median Age
44%
College-Educated
94%
High-School Grad
15.9 sq mi
ZIP Area
293
Density / Sq Mi
$76,627
Median Household Income
$40,762
Median Earnings
$863
Median Rent
$274,700
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Mixed-use property - High-traffic location, M-1 zoning, ideal for various business uses.
Where is this mixed-use property located?
The property is located at 1200 S Hartshorn Rd Lakeside-Marblehead, OH.
What is the asking price?
The asking price for this property is $525,000.
What are key features of this property?
This property features: High‑traffic central location with M‑1 Light Manufacturing Industrial zoning; Approximately 3,960 sq. ft. insulated warehouse with **12‑foot ceilings and 10x10 overhead garage door**; Approximately 840 sq. ft. of finished front office space including waiting room, conference room, and private office
