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    1419 Wayne Street 197 Celina, OH 45822

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    Claim this Listing
    For Sale
    $299,000

    COMMERCIAL - Other - Celina, OH

    Property size:
    2,016 SF
    Lot size:
    0.90 Acres
    Price / SF:
    $148/SF
    Added:
    Feb 17, 2025
    Days on Market:
    445
    Last Refresh:
    May 8 at 2:06 am

    Property Features for 1419 Wayne Street 197

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Parking
    10
    Exterior features
    Overhead Door(s)
    Appliances
    Gas Water Heater
    Standard status
    Active
    APN
    270271000000
    Size
    2,016 SF
    Lot size
    0.90 Acres

    Taxes and HOA fees

    Tax Year
    2025

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Natural Gas, Forced Air
    Cooling system
    Central Air

    Building Details

    Year built
    1981
    Building materials
    Metal Siding, Wood Siding
    Architectural style
    Other
    Additional Structures
    Workshop

    We can help!

    Listing Contact
    Deborah A Borns
    Deborah A Borns

    Listing agent Deborah A Borns

    Listing office Lake Shore Realtors 909 E Wayne Street - Suite 107, Celina, OH

    Listing date Feb 17, 2025

    MLS# 1037003

    Copyright © 2026 West Metro Board of REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Prime location in a high‑demand commercial and industrial corridor with versatile zoning potential.
    • Full municipal utilities available (Storm Sewer, Sanitary Sewer, City Water, Electric, Natural Gas).
    • Proximity to major employers, healthcare, and national retailers.
    • Includes a 36x56 building with 10' ceilings and two 8x10 overhead doors.
    • Ideal for a wide range of businesses.
    • Additional .8 acres available for purchase.

    Overview

    Versatile Commercial Property in Celina, OH

    This property, situated in a high-demand commercial and industrial area, offers flexibility and long-term value. The site has full municipal utilities available, including storm sewer, sanitary sewer, city water, electric, and natural gas. It is located near major employers, healthcare facilities, and national retailers. The property includes a 36x56 building with 10' ceilings and two 8x10 overhead doors. An additional 0.8 acres is available for purchase. The location is ideal for various commercial, industrial, or mixed-use developments. The property is directly across the street from an industrial park, making it suitable for construction firms, warehousing, distribution, manufacturing support, and logistics-based businesses. Mercer Health Medical Center is one block away, driving demand for medical offices, outpatient services, pharmaceutical support, wellness providers, and professional services. Crown Manufacturing is also one block away, presenting an opportunity for B1 operations, suppliers, service providers, and industrial support businesses. The property is within 1/4 mile of a retail and commercial hub with major national retailers such as Walmart, Menards, Dunham's Sporting Goods, Ruler Foods, McDonald's, and Harbor Freight. This retail concentration supports businesses tied to construction, trades, consumer services, food, and retail-oriented operations. The property has versatile zoning potential for industrial, commercial, medical, or service-based users. It benefits from a strong labor pool due to surrounding industrial, medical, and retail employers, as well as high traffic counts and excellent visibility. The total size of the property is approximately 1+/- acres, with a building size of 2016 square feet.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Flex space

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Celina
    County
    Mercer
    State
    Ohio
    Longitude
    -84.550481
    Latitude
    40.559987

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    FAQs

    What type of property is this?
    Flex space - Flexible commercial space near major employers and retailers.
    Where is this flex space located?
    The property is located at 1419 Wayne Street 197 Celina, OH.
    What is the asking price?
    The asking price for this property is $299,000.
    What are key features of this property?
    This property features: Prime location in a high‑demand commercial and industrial corridor with versatile zoning potential.; Full municipal utilities available (Storm Sewer, Sanitary Sewer, City Water, Electric, Natural Gas).; Proximity to major employers, healthcare, and national retailers.
    (419) 586-6427
    We can help!
    Listing Contact
    Deborah A Borns
    Deborah A Borns
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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