Industrial Workshop with Yard
For Sale
$625,000
14617 Kettlersville Road Wapakoneta, Wapakoneta, OH 45895
Steel-sided shop includes four overhead doors, embedded I-beam, and floor drains tied to a 2,000-gallon separator.
Property Size5,000 SF
Price / SF$125
Days on Market43
Property Features for 14617 Kettlersville Road Wapakoneta
General Information
Standard status
Active
Size
5,000 SF
Taxes and HOA fees
Annual Taxes
$2,970
Amenities
No
2.0
5000.0
Building Details
Building Size
5,000 SF
Year Built
1989
Stories
1
Listing Agency:
(614) 660-5959
Listed By:
Joe Herban
(614) 660-5959
Source:
Movenowohio
Added: Jul 10
Changed: Aug 19
Last Checked: Aug 21 at 4:01AM
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 Joe Herban
Investment Insights
Based on property information with market context.
This industrial workshop is built with a 50' x 100' steel frame and steel-sided exterior, providing an open floor plan with concrete flooring and steel-lined, insulated interior walls. The shop includes four 14' x 16' overhead doors and one 20' x 16' overhead door with openers, along with three walk-in doors. A 50' double 16' I-beam is embedded in the floor, and floor drains at each overhead door connect to a 2,000-gallon water/oil separator tank with an alarm system. Electrical service includes two separate 200-amp breaker panels providing 400-amp service, nine welder plugs, fifteen 120-volt outlets, and ten T-8 48' hanging lights. Hot and cold water lines are run to both ends of the shop, and the property includes a 10' x 5' restroom/utility room.
The building is supported by an attached 21' x 25' office with a full restroom with shower, central heat and air conditioning, two walk-through doors, and a 21' x 25' upper-level mezzanine with additional office space. Exterior improvements include a 200' x 70' gravel storage yard, approximately 6' chain-link fencing along the south side, and multiple gates (two double swing gates and a walk-through gate). Driveway and parking areas are gravel topped with asphalt, and a 50-amp RV hookup is located outside the office.
Constructed in 2011 and situated on approximately 1.20± acres, the site also includes a 20' x 50' doublewide home with two bedrooms and one full bathroom, along with a separate 1,500-gallon septic system.
The building is supported by an attached 21' x 25' office with a full restroom with shower, central heat and air conditioning, two walk-through doors, and a 21' x 25' upper-level mezzanine with additional office space. Exterior improvements include a 200' x 70' gravel storage yard, approximately 6' chain-link fencing along the south side, and multiple gates (two double swing gates and a walk-through gate). Driveway and parking areas are gravel topped with asphalt, and a 50-amp RV hookup is located outside the office.
Constructed in 2011 and situated on approximately 1.20± acres, the site also includes a 20' x 50' doublewide home with two bedrooms and one full bathroom, along with a separate 1,500-gallon septic system.
Key Highlights
- Approximately 1.20± acres with a 50' x 100' steel‑frame, steel‑sided shop built in 2011 by Beem Construction Inc.
- Shop features an open floor plan with concrete floors and a 50' double 16' I‑beam embedded in the floor.
- Includes four 14' x 16' overhead doors plus a 20' x 16' overhead door with openers; floor drains at each overhead 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
$43,056
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
6.89%
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%
$861,120
$861.1K
Cap Rate 7%
$615,086
$615.1K
Cap Rate 9%
$478,400
$478.4K
Market Conditions
NOI Build-Up for 5,000 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
$72.0K $14.40/SF
− Vacancy
−$5.8K −$1.15/SF
EGI
$66.2K $13.25/SF
− OpEx
−$23.2K −$4.64/SF
NOI
$43.1K $8.61/SF
Area
Auglaize County, OH
Vacancy
8.00%
Lease Rate
$14.40 /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%
$861,120
Cap Rate 7%
$615,086
Cap Rate 9%
$478,400
Alternative Uses
Best Use
Flex RnD
$615.1K
$538.2K – $717.6K
NOI $43,056 @ 7.0% cap · market cap 6.89%
Second Best
Industrial
$293.5K
$256.8K – $342.4K
NOI $20,546 @ 7.0% cap · market cap 3.29%
Theoretical Best
Office A
$1.01M
$881.2K – $1.17M
NOI $70,499 @ 7.0% cap · market cap 11.28%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
4
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 45895, OH
17,974
Population
7,963
Households
2.3
Avg Household Size
42
Median Age
20%
College-Educated
92%
High-School Grad
187.0 sq mi
ZIP Area
96
Density / Sq Mi
$72,965
Median Household Income
$44,392
Median Earnings
$846
Median Rent
$181,700
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?
Flex space - Steel-sided shop includes four overhead doors, embedded I-beam, and floor drains tied to a 2,000-gallon separator.
Where is this flex space located?
The property is located at 14617 Kettlersville Road Wapakoneta Wapakoneta, OH.
What is the asking price?
The asking price for this property is $625,000.
What are key features of this property?
This property features: Approximately 1.20± acres with a 50' x 100' steel‑frame, steel‑sided shop built in 2011 by Beem Construction Inc.; Shop features an open floor plan with concrete floors and a 50' double 16' I‑beam embedded in the floor.; Includes four 14' x 16' overhead doors plus a 20' x 16' overhead door with openers; floor drains at each overhead door.
