Warehouse with Dock and Drive-In
For Sale
$895,000
1401 Fotler Street, Springfield, OH 45504
Warehouse includes one dock door, two 12' x 14' drive-in doors, and 16'–19' clear height plus fenced outdoor storage.
Property Size10,000 SF
Price / SF$89.50
Days on Market118
Property Features for 1401 Fotler Street
General Information
Standard status
Active
Size
10,000 SF
Property subtype
Industrial
Site & Location
Highway Access
Yes
Fenced Yard
Yes
Outdoor Storage
Yes
Warehouse & Industrial
Clear Height
19 ft
Dock-High Doors
1
Drive-In Doors
2
Heavy Power
Yes
Building Details
Building Size
10,000 SF
Year Built
1989
Listing Agency:
NAI | Ohio Equities
Listed By:
Ryan McGreevy · License #2007000920
(614) 629-5282
Source:
Ohioequities
Added: May 14
Changed: Sep 4
Last Checked: Sep 7 at 8:04AM
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 warehouse offers a practical industrial layout with one dock door and two drive-in doors sized at 12' x 14'. The building provides 16'–19' clear height to support a range of storage and operational needs, with 208-volt, 3-phase power and gas heaters in the warehouse. An outdoor fenced storage area adds additional flexibility for inventory or equipment staging.
Located right off U.S. 68, the site is positioned for convenient access for industrial users.
The configuration supports both dock and drive-in receiving, with the combination of clear height, on-site utilities, and enclosed work space intended to accommodate efficient day-to-day warehouse operations.
Located right off U.S. 68, the site is positioned for convenient access for industrial users.
The configuration supports both dock and drive-in receiving, with the combination of clear height, on-site utilities, and enclosed work space intended to accommodate efficient day-to-day warehouse operations.
Key Highlights
- 10,000 SF warehouse for lease with 16'-19' clear height
- 1 dock door plus 2 drive‑in doors, each 12' x 14'
- 208‑volt, 3‑phase power in the warehouse
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
$49,897
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
5.58%
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%
$997,940
$997.9K
Cap Rate 7%
$712,814
$712.8K
Cap Rate 9%
$554,411
$554.4K
Market Conditions
NOI Build-Up for 10,000 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
$64.1K $6.41/SF
− Vacancy
−$5.4K −$0.54/SF
EGI
$58.7K $5.87/SF
− OpEx
−$8.8K −$0.88/SF
NOI
$49.9K $4.99/SF
Area
Clark County, OH
Vacancy
8.42%
Lease Rate
$6.41 /SF/Yr
Expense Ratio
15.00%
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%
$997,940
Cap Rate 7%
$712,814
Cap Rate 9%
$554,411
Alternative Uses
Best Use
Warehouse
$712.8K
$623.7K – $831.6K
NOI $49,897 @ 7.0% cap · market cap 5.58%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$2.79M
$2.44M – $3.25M
NOI $195,251 @ 7.0% cap · market cap 21.82%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
19 ft
Clear height
1
Dock-high doors
2
Drive-in doors
Yes
Heavy power
Yes
Fenced yard
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
412
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 45504, OH
17,343
Population
7,100
Households
2.4
Avg Household Size
41
Median Age
27%
College-Educated
92%
High-School Grad
22.0 sq mi
ZIP Area
788
Density / Sq Mi
$67,334
Median Household Income
$38,813
Median Earnings
$889
Median Rent
$167,700
Median Home Value
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Space Makers Self Storage Center — 98 N Bechtle Ave, Springfield, OH 45504
- Self-Storage at U-Haul — 802 W Columbia St, Springfield, OH 45504
- Extra Space Storage — 1885 W 1st St, Springfield, OH 45504
Frequently Asked Questions
What type of property is this?
Warehouse - Warehouse includes one dock door, two 12' x 14' drive-in doors, and 16'–19' clear height plus fenced outdoor storage.
Where is this warehouse located?
The property is located at 1401 Fotler Street Springfield, OH.
What is the asking price?
The asking price for this property is $895,000.
What are key features of this property?
This property features: 10,000 SF warehouse for lease with 16'-19' clear height; 1 dock door plus 2 drive‑in doors, each 12' x 14'; 208‑volt, 3‑phase power in the warehouse
