For Sale
$225,000
1325 Detroit Street South, Bellefontaine, OH 43311
Car washes
Property Size2,522 SF
Price / SF$89.21
Days on Market400
Property Features for 1325 Detroit Street South
General Information
Standard status
Active
Size
2,522 SF
Property subtype
Industrial / Other Ind
Additional Details
Road Access
Yes
Service Bays
5
Taxes and HOA fees
Annual Taxes
$2,785
Amenities
heated floors
Gas
1
Building Details
Year Built
1992
Listing Agency:
Best Corporate Real Estate
(937) 935-5991
Listed By:
Shawn D Wilcoxon · License #2011001894
(937) 935-5991
Source:
Compass
Added: Jul 6, 2025
Changed: Aug 8
Last Checked: Aug 8 at 10:49AM
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 Best Corporate Real Estate
Investment Insights
Based on property information with market context.
Key Highlights
- Car wash with 5 hand‑wash bays plus a 16x32 storage bay with two 10' overhead doors
- New roof installed 10/2024
- Heated floors
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
$10,724
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
4.77%
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%
$214,480
$214.5K
Cap Rate 7%
$153,200
$153.2K
Cap Rate 9%
$119,156
$119.2K
Market Conditions
NOI Build-Up for 2,522 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
$14.8K $5.88/SF
− Vacancy
−$531 −$0.21/SF
EGI
$14.3K $5.67/SF
− OpEx
−$3.6K −$1.42/SF
NOI
$10.7K $4.25/SF
Area
Logan County, OH
Vacancy
3.58%
Lease Rate
$5.88 /SF/Yr
Expense Ratio
25.00%
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%
$214,480
Cap Rate 7%
$153,200
Cap Rate 9%
$119,156
Alternative Uses
Best Use
Specialty Retail
$153.2K
$134.1K – $178.7K
NOI $10,724 @ 7.0% cap · market cap 4.77%
Second Best
Industrial
$148.0K
$129.5K – $172.7K
NOI $10,363 @ 7.0% cap · market cap 4.61%
Theoretical Best
Office A
$509.1K
$445.5K – $593.9K
NOI $35,636 @ 7.0% cap · market cap 15.84%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
5
Service bays
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
723
Businesses Nearby
Explore this area
Business Placement
Demographics for 43311, OH
20,029
Population
9,497
Households
2.1
Avg Household Size
40
Median Age
17%
College-Educated
93%
High-School Grad
103.8 sq mi
ZIP Area
193
Density / Sq Mi
$64,217
Median Household Income
$40,341
Median Earnings
$833
Median Rent
$183,000
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
Where is this car wash located?
The property is located at 1325 Detroit Street South Bellefontaine, OH.
What is the asking price?
The asking price for this property is $225,000.
What are key features of this property?
This property features: Car wash with 5 hand‑wash bays plus a 16x32 storage bay with two 10' overhead doors; New roof installed 10/2024; Heated floors
