Automotive Facility with Drive-Thru
For Sale
Contact for pricing
1246 N Main St, Urbana, OH 43078
Former auto dealership with showroom space and 8 semi-truck accessible drive-thru bays plus multiple drive-in doors.
Property Size25,034 SF
Lot Size10.06 Acres
Price / SF$139.81
Days on Market38
Property Features for 1246 N Main St
General Information
Standard status
Active
Size
25,034 SF
Lot size
10.06 Acres
Property subtype
INDUSTRIAL
Zoning
M-1
Site & Location
Highway Access
Yes
Road Access
Yes
Warehouse & Industrial
Drive-In Doors
18
Heavy Power
Yes
Additional Details
Service Bays
8
Amenities
private offices
restrooms
storage
conference room
monument signage
Listing Agency:
NAI Ohio Equities
(614) 296-3739
Listed By:
Curt Berlin, SIOR · License #2023003870
(614) 296-3739
Source:
Moodyscre
Added: Jul 25
Changed: Aug 8
Last Checked: Aug 30 at 7:26PM
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 NAI Ohio Equities
Investment Insights
Based on property information with market context.
This former auto dealership property includes three buildings totaling 120,334 SF for the main showroom and vehicle maintenance operations. The main building features 18 drive-in doors, including 8 full drive-thru bays that are semi-truck accessible, along with a former paint booth/wash bay. The maintenance area includes floor drains, waste oil heat, and an oil/water separator. The property also offers 3-phase power and LED lighting, plus a showroom with three private offices, restrooms, storage, and an upstairs conference room, as well as a parts department with mezzanine space.
Two additional buildings of 3,200 SF and 1,500 SF provide supplementary space. The site offers monument signage and high visibility on US-68 at a signalized corner.
Zoned M-1, the facility is suited for vehicle sales or maintenance and other industrial-oriented uses that align with a manufacturing district designation.
Two additional buildings of 3,200 SF and 1,500 SF provide supplementary space. The site offers monument signage and high visibility on US-68 at a signalized corner.
Zoned M-1, the facility is suited for vehicle sales or maintenance and other industrial-oriented uses that align with a manufacturing district designation.
Key Highlights
- Former auto dealership on 10.06 acres with a main building totaling 20,334 SF
- 8 full drive‑thru bays plus 18 drive‑in doors (12' x 14'), with semi‑truck accessible bays
- Showroom with 3 private offices, restrooms, storage, and an upstairs conference room
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
$102,870
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
2.94%
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%
$2,057,400
$2.1M
Cap Rate 7%
$1,469,571
$1.5M
Cap Rate 9%
$1,143,000
$1.1M
Market Conditions
NOI Build-Up for 25,034 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
$160.5K $6.41/SF
− Vacancy
−$13.5K −$0.54/SF
EGI
$147.0K $5.87/SF
− OpEx
−$44.1K −$1.76/SF
NOI
$102.9K $4.11/SF
Area
Champaign County, OH
Vacancy
8.42%
Lease Rate
$6.41 /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%
$2,057,400
Cap Rate 7%
$1,469,571
Cap Rate 9%
$1,143,000
Alternative Uses
Best Use
Industrial
$1.47M
$1.29M – $1.71M
NOI $102,870 @ 7.0% cap · market cap 2.94%
Second Best
Retail
$651.7K
$570.3K – $760.3K
NOI $45,620 @ 7.0% cap · market cap 1.30%
Theoretical Best
Specialty Retail
$6.98M
$6.11M – $8.15M
NOI $488,790 @ 7.0% cap · market cap 13.97%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
18
Drive-in doors
8
Service bays
Yes
Heavy power
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
107
Businesses Nearby
7k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Dollar General
Shops & Services
6,280 visits/mo
0.1 miles
White's Ford
Shops & Services
1,063 visits/mo
0.1 miles
Demographics for 43078, OH
20,067
Population
8,904
Households
2.3
Avg Household Size
43
Median Age
22%
College-Educated
91%
High-School Grad
150.4 sq mi
ZIP Area
133
Density / Sq Mi
$72,500
Median Household Income
$40,854
Median Earnings
$909
Median Rent
$176,300
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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Similar Off Market Nearby
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- Don's Auto — 1140 n main st, urbana, oh 43078
Frequently Asked Questions
What type of property is this?
Auto shop - Former auto dealership with showroom space and 8 semi-truck accessible drive-thru bays plus multiple drive-in doors.
Where is this auto shop located?
The property is located at 1246 N Main St Urbana, OH.
What is the asking price?
The asking price for this property is $3,500,000.
What are key features of this property?
This property features: Former auto dealership on 10.06 acres with a main building totaling 20,334 SF; 8 full drive‑thru bays plus 18 drive‑in doors (12' x 14'), with semi‑truck accessible bays; Showroom with 3 private offices, restrooms, storage, and an upstairs conference room
