Commercial Garage Condo with Overhead
For Sale
$289,900
Pending
4202 Mason Pointe Dr, Mason, OH 45040
Own a versatile storage and work unit with a large overhead door, high ceilings, and modern utilities.
Property Size1,300 SF
Days on Market882
Property Features for 4202 Mason Pointe Dr
General Information
Standard status
Pending
Size
1,300 SF
Warehouse & Industrial
Clear Height
18 ft
Drive-In Doors
1
Listing Agency:
Re/Max Time
(513) 600-5277
Listed By:
Michelle R Sloan · License #BRKP.2019002235
(513) 600-5277
Source:
Exprealty
Added: Mar 15, 2024
Changed: Aug 8
Last Checked: Aug 12 at 11:55AM
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 Re/Max Time
Investment Insights
Based on property information with market context.
This commercial garage condo is a flexible 1,300 SF unit built for both storage and private workspace. The space measures 24' x 52' with soaring 18' ceilings, designed to accommodate shelving, inventory, and other operational needs. Access includes a 14' x 14' overhead door with an opener, plus a separate steel access door. Interior amenities include fully drywalled construction for privacy and security, along with a half bath, a utility sink, and a hot water heater. The unit also features 125 Amp electric service and gas furnace heat, with insulated, fire-rated walls between units for added separation.
Located at 4202 Mason Pointe Dr in Mason, OH, the property is part of a multi-unit garage condo environment. The construction includes a concrete shell and a metal roof, and the offering notes multiple available units, allowing buyers to select an option that fits their current storage or workspace requirements.
For small business owners, contractors, tradespeople, and other operators, the combination of high-clearance space, vehicle-friendly overhead access, and dedicated utilities supports day-to-day use without relying on a traditional lease. Ownership also provides the opportunity to scale within the available unit options as needs change.
Located at 4202 Mason Pointe Dr in Mason, OH, the property is part of a multi-unit garage condo environment. The construction includes a concrete shell and a metal roof, and the offering notes multiple available units, allowing buyers to select an option that fits their current storage or workspace requirements.
For small business owners, contractors, tradespeople, and other operators, the combination of high-clearance space, vehicle-friendly overhead access, and dedicated utilities supports day-to-day use without relying on a traditional lease. Ownership also provides the opportunity to scale within the available unit options as needs change.
Key Highlights
- Own a 1,300 SF commercial garage condo for business storage or private workspace
- 24' x 52' unit with soaring 18' ceilings for shelving, inventory, or vehicle lift
- 14' x 14' overhead door with opener plus a separate steel access door
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
$15,463
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
5.33%
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%
$309,260
$309.3K
Cap Rate 7%
$220,900
$220.9K
Cap Rate 9%
$171,811
$171.8K
Market Conditions
NOI Build-Up for 1,300 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
$23.4K $18.00/SF
− Vacancy
−$1.3K −$1.01/SF
EGI
$22.1K $16.99/SF
− OpEx
−$6.6K −$5.10/SF
NOI
$15.5K $11.89/SF
Area
Warren County, OH
Vacancy
5.60%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
30.00%
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%
$309,260
Cap Rate 7%
$220,900
Cap Rate 9%
$171,811
Alternative Uses
Best Use
Self Storage
$220.9K
$193.3K – $257.7K
NOI $15,463 @ 7.0% cap · market cap 5.33%
Second Best
Warehouse
$92.7K
$81.1K – $108.1K
NOI $6,487 @ 7.0% cap · market cap 2.24%
Theoretical Best
Office A
$290.4K
$254.1K – $338.8K
NOI $20,326 @ 7.0% cap · market cap 7.01%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
18 ft
Clear height
1
Drive-in doors
Location Intelligence
Trade Area within ½ mile
126
Businesses Nearby
Explore this area
Business Placement
Demographics for 45040, OH
57,153
Population
21,977
Households
2.6
Avg Household Size
40
Median Age
65%
College-Educated
98%
High-School Grad
28.5 sq mi
ZIP Area
2,005
Density / Sq Mi
$131,803
Median Household Income
$68,422
Median Earnings
$1,691
Median Rent
$403,700
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?
Self storage facility - Own a versatile storage and work unit with a large overhead door, high ceilings, and modern utilities.
Where is this self storage facility located?
The property is located at 4202 Mason Pointe Dr Mason, OH.
What is the asking price?
The asking price for this property is $289,900.
What are key features of this property?
This property features: Own a 1,300 SF commercial garage condo for business storage or private workspace; 24' x 52' unit with soaring 18' ceilings for shelving, inventory, or vehicle lift; 14' x 14' overhead door with opener plus a separate steel access door
