Historic Multi-Level Storefront
For Sale
$1,500,000
144 S Main Street, Bellefontaine, OH 43311
COMMERCIAL - Bellefontaine, OH
Property Size19,000 SF
Price / SF$78.95
Days on Market709
Property Features for 144 S Main Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
Business
Parking features
Parking Lot
Basement
Full
Directions
Corner of Main and Chillicothe
Subdivision
901 Bellefontaine
Standard status
Active
APN
170911225008000
Size
19,000 SF
Taxes and HOA fees
Tax Year
2023
Utilities
Sewer type
Public Sewer
Building Details
Year built
1910
Building materials
Stone
Listing Agency:
Bell Hankins Realty Group, LLC
(937) 935-2450
Listed By:
Heidi Baker · License #2018000866
(937) 935-2450
Added: Sep 13, 2024
Changed: Aug 5
Last Checked: Aug 22 at 4:06PM
MLS# 1034370
Copyright © 2026 Western Regional Information System & Technology, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This stone storefront property contains 19,000 square feet across three floors, with each floor measuring approximately 6,000 square feet. A full basement and mezzanine expand the building’s usable configuration. Constructed in 1910, the property combines historic character with substantial 2014 improvements, including a new roof, storefront glazing, doors, upper-floor windows, tuckpointing, and terra cotta tile repairs.
The building occupies the corner of Main and Chillicothe in downtown Bellefontaine, within walking distance of restaurants and specialty retailers. A parking lot supports the property, and public sewer service is in place. The multi-level layout and range of existing improvements accommodate a variety of potential commercial uses.
The building occupies the corner of Main and Chillicothe in downtown Bellefontaine, within walking distance of restaurants and specialty retailers. A parking lot supports the property, and public sewer service is in place. The multi-level layout and range of existing improvements accommodate a variety of potential commercial uses.
Key Highlights
- 19,000 SF storefront property at 144 S Main Street, Bellefontaine, OH 43311
- Three floors with approximately 6,000 SF per floor
- Full basement and mezzanine included
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
$74,378
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
4.96%
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%
$1,487,560
$1.5M
Cap Rate 7%
$1,062,543
$1.1M
Cap Rate 9%
$826,422
$826.4K
Market Conditions
NOI Build-Up for 19,000 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
$110.2K $5.80/SF
− Vacancy
−$3.9K −$0.21/SF
EGI
$106.3K $5.59/SF
− OpEx
−$31.9K −$1.68/SF
NOI
$74.4K $3.91/SF
Area
Logan County, OH
Vacancy
3.58%
Lease Rate
$5.80 /SF/Yr
Expense Ratio
30.00%
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%
$1,487,560
Cap Rate 7%
$1,062,543
Cap Rate 9%
$826,422
Alternative Uses
Best Use
Retail
$1.06M
$929.7K – $1.24M
NOI $74,378 @ 7.0% cap · market cap 4.96%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.84M
$3.36M – $4.47M
NOI $268,475 @ 7.0% cap · market cap 17.90%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
738
Businesses Nearby
Under-served
Demand for This Use
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.
Similar Off Market Nearby
- Wren's Florist & Greenhouse — 500 E Columbus Ave, Bellefontaine, OH 43311
- Dorcey's Flowers — 300 S Main St, Bellefontaine, OH 43311
Frequently Asked Questions
What type of property is this?
Storefront property - Three floors, a basement, and mezzanine provide flexible commercial space in a walkable downtown business district.
Where is this storefront property located?
The property is located at 144 S Main Street Bellefontaine, OH.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: 19,000 SF storefront property at 144 S Main Street, Bellefontaine, OH 43311; Three floors with approximately 6,000 SF per floor; Full basement and mezzanine included
