Office Building With Reception
For Sale
$650,000
1392 Rawlings St, Washington Court House, OH 43160
Professional office property with private offices, client reception space, dual HVAC systems, and substantial electrical capacity.
Property Size3,282 SF
Price / SF$198.05
Days on Market8
Property Features for 1392 Rawlings St
General Information
Standard status
Active
Size
3,282 SF
Site & Location
Highway Access
Yes
Utilities to Site
Yes
Taxes and HOA fees
Annual Taxes
$6,566
Building Details
Year Built
2010
Buildings
1
Listing Agency:
RealtyX-Real Estate Xperts LLC
(740) 324-7653
Listed By:
Kaden Tyler
(740) 505-1277
Source:
Exprealty
Added: Sep 16
Changed: Sep 20
Last Checked: Sep 22 at 10:40PM
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 RealtyX-Real Estate Xperts LLC
Investment Insights
Based on property information with market context.
Built in 2010, this 3,282-square-foot office building includes three private offices, a waiting area, reception room, and a dedicated mechanical room. Twin electric HVAC units and 400-amp electrical service provide core building infrastructure for professional, medical, and business uses.
The property is located at 1392 Rawlings St in Washington Court House, Ohio, near the Adena Hospital construction site and less than one minute from U.S. Route 62. Its layout combines private work areas with defined client-facing space, while the accessible mechanical room supports organized building operations.
The property is located at 1392 Rawlings St in Washington Court House, Ohio, near the Adena Hospital construction site and less than one minute from U.S. Route 62. Its layout combines private work areas with defined client-facing space, while the accessible mechanical room supports organized building operations.
Key Highlights
- 3,282‑square‑foot office building constructed in 2010
- Three private offices plus waiting and reception areas
- Twin electric HVAC units
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
$40,236
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
6.19%
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%
$804,720
$804.7K
Cap Rate 7%
$574,800
$574.8K
Cap Rate 9%
$447,067
$447.1K
Market Conditions
NOI Build-Up for 3,282 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
$70.5K $21.48/SF
− Vacancy
−$16.8K −$5.13/SF
EGI
$53.6K $16.35/SF
− OpEx
−$13.4K −$4.09/SF
NOI
$40.2K $12.26/SF
Area
Fayette County, OH
Vacancy
23.90%
Lease Rate
$21.48 /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%
$804,720
Cap Rate 7%
$574,800
Cap Rate 9%
$447,067
Alternative Uses
Best Use
Office B
$574.8K
$503.0K – $670.6K
NOI $40,236 @ 7.0% cap · market cap 6.19%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$915.4K
$801.0K – $1.07M
NOI $64,081 @ 7.0% cap · market cap 9.86%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
488
Businesses Nearby
Explore this area
Business Placement
Demographics for 43160, OH
22,117
Population
10,012
Households
2.2
Avg Household Size
41
Median Age
14%
College-Educated
86%
High-School Grad
213.2 sq mi
ZIP Area
104
Density / Sq Mi
$57,475
Median Household Income
$38,296
Median Earnings
$802
Median Rent
$162,200
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Midwest region
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Frequently Asked Questions
What type of property is this?
Office building - Professional office property with private offices, client reception space, dual HVAC systems, and substantial electrical capacity.
Where is this office building located?
The property is located at 1392 Rawlings St Washington Court House, OH.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: 3,282‑square‑foot office building constructed in 2010; Three private offices plus waiting and reception areas; Twin electric HVAC units
