Flex Space with
For Sale
$481,500
131 & 123 N Chestnut Street, Jefferson, OH 44047
CommercialSale, Jefferson, OH
Property Size3,764 SF
Lot Size0.68 Acres
Price / SF$127.92
Days on Market93
Property Features for 131 & 123 N Chestnut Street
General Information
Property type
Commercial Sale
Property subtype
Retail
Zoning description
Commercial
Parking
15
Elementary school district
Jefferson Area LSD - 406
Middle school district
Jefferson Area LSD - 406
High school district
Jefferson Area LSD - 406
Directions
Located on the west side of N. Chestnut (Rt. 46) just south W Ashtabula St and north of W Walnut St.
Standard status
Active
APN
260190011500
Lot size
0.68 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
38 & 40 ASHTABULA ST
Tax Annual Amount
2614
Legal Description
38 & 40 ASHTABULA ST
Utilities
Heating system
Forced Air, Natural Gas
Water source
Public
Building Details
Year built
1950
Listing Agency:
Berkshire Hathaway HomeServices Professional Realty
(440) 576-6985
Listed By:
Victoria S Miller · License #412174
(440) 813-3379
Added: Jul 15
Changed: Sep 2
Last Checked: Oct 15 at 8:06AM
MLS# 5206833
Copyright © 2026 MLS Now. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This flex space combines 2,604 square feet of retail or showroom area with 1,160 square feet of warehouse space, creating a practical configuration for customer-facing activity, inventory, storage, and workspace. The property contains 3,764 square feet within a building constructed in 1950 and sits on a 0.68-acre parcel. Natural gas forced-air heating and public water serve the building.
The property is located at 131 & 123 N Chestnut Street on the west side of State Route 46 in Jefferson, Ohio. Approximately 142 feet of road frontage provides direct exposure along the corridor. The parcel offers room for customer parking and deliveries, with flexibility for an owner-occupant, investor, or business requiring both finished commercial space and rear warehouse capacity.
The property is located at 131 & 123 N Chestnut Street on the west side of State Route 46 in Jefferson, Ohio. Approximately 142 feet of road frontage provides direct exposure along the corridor. The parcel offers room for customer parking and deliveries, with flexibility for an owner-occupant, investor, or business requiring both finished commercial space and rear warehouse capacity.
Key Highlights
- 3,764 square feet total building area
- 2,604 square feet of retail or showroom space
- 1,160 square feet of warehouse space
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$21,444
Cap Rate
4.45%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$428,880
$428.9K
Cap Rate 7%
$306,343
$306.3K
Cap Rate 9%
$238,267
$238.3K
Market Conditions
NOI Build-Up for 3,764 SF
Gross rent
$37.5K $9.96/SF
− Vacancy
−$4.5K −$1.20/SF
EGI
$33.0K $8.76/SF
− OpEx
−$11.5K −$3.07/SF
NOI
$21.4K $5.70/SF
Area
Ashtabula County, OH
Vacancy
12.00%
Lease Rate
$9.96 /SF/Yr
Expense Ratio
35.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$428,880
Cap Rate 7%
$306,343
Cap Rate 9%
$238,267
Alternative Uses
Best Use
Retail
$659.9K
$577.4K – $769.9K
NOI $46,193 @ 7.0% cap · market cap 9.59%
Second Best
Flex RnD
$306.3K
$268.1K – $357.4K
NOI $21,444 @ 7.0% cap · market cap 4.45%
Theoretical Best
Office A
$701.4K
$613.7K – $818.3K
NOI $49,099 @ 7.0% cap · market cap 10.20%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
363
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 44047, OH
9,156
Population
4,075
Households
2.2
Avg Household Size
45
Median Age
18%
College-Educated
90%
High-School Grad
107.0 sq mi
ZIP Area
86
Density / Sq Mi
$59,720
Median Household Income
$39,850
Median Earnings
$985
Median Rent
$182,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in Midwest region
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Frequently Asked Questions
What type of property is this?
Flex space - A mixed retail and warehouse layout supports customer-facing operations alongside storage and work areas.
Where is this flex space located?
The property is located at 131 & 123 N Chestnut Street Jefferson, OH.
What is the asking price?
The asking price for this property is $481,500.
What are key features of this property?
This property features: 3,764 square feet total building area; 2,604 square feet of retail or showroom space; 1,160 square feet of warehouse space
