Mixed-Use Building with Fenced
For Sale
$339,900
211 S High St, New Lexington, OH 43764
Commercial building near government offices and uptown businesses, with on-site and off-street parking.
Property Size1,934 SF
Price / SF$175.75
Days on Market42
Property Features for 211 S High St
General Information
Standard status
Active
Size
1,934 SF
Amenities
shady trees
fenced area
outside storage area
Building Details
Year Built
1986
Buildings
1
Listing Agency:
SAYRE SEALS & MCMILLAN REAL ESTATE LLC
(740) 342-1553
Listed By:
Kathy A McMillan
Source:
Thelorilynngroup
Added: Jul 20
Changed: Aug 29
Last Checked: Aug 25 at 5:41AM
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 SAYRE SEALS & MCMILLAN REAL ESTATE LLC
Investment Insights
Based on property information with market context.
This mixed-use commercial building contains 1934 square feet and was built in 1986. The property has a fenced area, exterior storage space, a dedicated parking lot, and additional off-street parking. Its prior use as a preschool provides a documented operating history, while the property information also identifies office and professional-service applications.
The building is located at 211 S High Street in New Lexington, Ohio, just off Main St. It is near city government offices and uptown businesses, placing the property within an established commercial area. The combination of enclosed commercial space, parking, fencing, and outdoor storage supports a range of business, office, and service-oriented configurations.
The building is located at 211 S High Street in New Lexington, Ohio, just off Main St. It is near city government offices and uptown businesses, placing the property within an established commercial area. The combination of enclosed commercial space, parking, fencing, and outdoor storage supports a range of business, office, and service-oriented configurations.
Key Highlights
- 1934 square feet of commercial building area
- Built in 1986
- Fenced area with outside storage area
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
$23,811
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
7.01%
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%
$476,220
$476.2K
Cap Rate 7%
$340,157
$340.2K
Cap Rate 9%
$264,567
$264.6K
Market Conditions
NOI Build-Up for 1,934 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
$41.8K $21.60/SF
− Vacancy
−$10.0K −$5.18/SF
EGI
$31.7K $16.42/SF
− OpEx
−$7.9K −$4.10/SF
NOI
$23.8K $12.31/SF
Area
Perry County, OH
Vacancy
24.00%
Lease Rate
$21.60 /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%
$476,220
Cap Rate 7%
$340,157
Cap Rate 9%
$264,567
Alternative Uses
Best Use
Office B
$340.2K
$297.6K – $396.9K
NOI $23,811 @ 7.0% cap · market cap 7.01%
Second Best
Mixed Use
$264.0K
$231.0K – $308.0K
NOI $18,479 @ 7.0% cap · market cap 5.44%
Theoretical Best
Warehouse
$389.8K
$341.1K – $454.8K
NOI $27,286 @ 7.0% cap · market cap 8.03%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
321
Businesses Nearby
Explore this area
Business Placement
Demographics for 43764, OH
8,177
Population
3,214
Households
2.5
Avg Household Size
39
Median Age
13%
College-Educated
85%
High-School Grad
60.8 sq mi
ZIP Area
134
Density / Sq Mi
$54,388
Median Household Income
$36,581
Median Earnings
$664
Median Rent
$129,800
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Commercial building near government offices and uptown businesses, with on-site and off-street parking.
Where is this mixed-use property located?
The property is located at 211 S High St New Lexington, OH.
What is the asking price?
The asking price for this property is $339,900.
What are key features of this property?
This property features: 1934 square feet of commercial building area; Built in 1986; Fenced area with outside storage area
