Flex Space with Commercial
For Sale
$549,900
14775 State Route 664 S, Logan, OH 43138
Steel commercial building with a kitchen area, ADA-compliant restroom, on-site parking, and flexible business-use potential.
Property Size2,100 SF
Lot Size2.00 Acres
Price / SF$261.86
Days on Market169
Property Features for 14775 State Route 664 S
General Information
Standard status
Active
Size
2,100 SF
Lot size
2.00 Acres
Additional Details
Road Access
Yes
Building Details
Buildings
1
Construction
steel
Listing Agency:
Brady Group Real Estate
(740) 603-1856
Listed By:
Michael Allen Barrell · License #2017005119
(740) 603-1856
Source:
Exprealty
Added: Feb 25
Changed: Aug 12
Last Checked: Aug 12 at 3:29AM
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 Brady Group Real Estate
Investment Insights
Based on property information with market context.
This flex property includes a 30-by-70-foot steel commercial building on 2 acres. Interior improvements include a kitchen area and an ADA-compliant bathroom, while on-site parking supports customer, staff, or event use. The property was formerly occupied by Dusty Blues and is offered for sale.
Located at 14775 State Route 664 S in Logan, the property is positioned along State Route 664 S, approximately 1 mile from Lake Logan and near the Hocking Hills region. Its setting within a well-known Ohio tourist destination provides direct proximity to outdoor recreation and visitor activity. The existing building and site configuration can accommodate a range of commercial applications, subject to applicable approvals.
Located at 14775 State Route 664 S in Logan, the property is positioned along State Route 664 S, approximately 1 mile from Lake Logan and near the Hocking Hills region. Its setting within a well-known Ohio tourist destination provides direct proximity to outdoor recreation and visitor activity. The existing building and site configuration can accommodate a range of commercial applications, subject to applicable approvals.
Key Highlights
- 30‑by‑70‑foot steel commercial building
- 2‑acre commercial property along State Route 664 S
- Kitchen area and ADA‑compliant bathroom 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
$26,142
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
4.75%
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%
$522,840
$522.8K
Cap Rate 7%
$373,457
$373.5K
Cap Rate 9%
$290,467
$290.5K
Market Conditions
NOI Build-Up for 2,100 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
$45.9K $21.84/SF
− Vacancy
−$11.0K −$5.24/SF
EGI
$34.9K $16.60/SF
− OpEx
−$8.7K −$4.15/SF
NOI
$26.1K $12.45/SF
Area
Hocking County, OH
Vacancy
24.00%
Lease Rate
$21.84 /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%
$522,840
Cap Rate 7%
$373,457
Cap Rate 9%
$290,467
Alternative Uses
Best Use
Specialty Retail
$373.5K
$326.8K – $435.7K
NOI $26,142 @ 7.0% cap · market cap 4.75%
Second Best
Industrial
$348.6K
$305.0K – $406.7K
NOI $24,400 @ 7.0% cap · market cap 4.44%
Theoretical Best
Warehouse
$423.3K
$370.4K – $493.8K
NOI $29,628 @ 7.0% cap · market cap 5.39%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
14
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 43138, OH
18,445
Population
8,457
Households
2.2
Avg Household Size
42
Median Age
14%
College-Educated
87%
High-School Grad
175.8 sq mi
ZIP Area
105
Density / Sq Mi
$65,028
Median Household Income
$37,920
Median Earnings
$766
Median Rent
$169,100
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.
Frequently Asked Questions
What type of property is this?
Flex space - Steel commercial building with a kitchen area, ADA-compliant restroom, on-site parking, and flexible business-use potential.
Where is this flex space located?
The property is located at 14775 State Route 664 S Logan, OH.
What is the asking price?
The asking price for this property is $549,900.
What are key features of this property?
This property features: 30‑by‑70‑foot steel commercial building; 2‑acre commercial property along State Route 664 S; Kitchen area and ADA‑compliant bathroom included
