Office Building with Meeting
For Sale
$349,900
1534 S Main Street, Bellefontaine, OH 43311
COMMERCIAL - Bellefontaine, OH
Property Size1,316 SF
Lot Size0.23 Acres
Price / SF$265.88
Days on Market59
Property Features for 1534 S Main Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
Business
Parking
10
Parking features
Parking Lot
Appliances
Refrigerator
Subdivision
Clarks Park Add
Directions
Located at the corner of South Main St. (US 68) an Clarkson Ave.
Standard status
Active
APN
171061201009000
Size
1,316 SF
Lot size
0.23 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
1960
Building materials
Vinyl Siding
Listing Agency:
Bell Hankins Realty Group, LLC
(937) 935-2450
Listed By:
Chelsey Bailey
(937) 935-2450
Added: Jun 11
Changed: Aug 5
Last Checked: Aug 8 at 11:06PM
MLS# 1046603
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 office building is configured for office and meeting use and includes private office space, open work areas, a client workstation, a restroom, a storage area, and a mechanical room. Recent interior updates include newer flooring.
The property is located on South Main Street in Bellefontaine and sits at a signalized intersection. It offers exposure across from Chipotle and Tsunami Car Wash, and provides ample on-site parking with five concrete spaces in the front and five additional asphalt spaces in the rear.
Zoned B3 – General Business District, the building totals 1,316 square feet and is well-suited for office-oriented operations and service businesses within the general business zoning framework.
The property is located on South Main Street in Bellefontaine and sits at a signalized intersection. It offers exposure across from Chipotle and Tsunami Car Wash, and provides ample on-site parking with five concrete spaces in the front and five additional asphalt spaces in the rear.
Zoned B3 – General Business District, the building totals 1,316 square feet and is well-suited for office-oriented operations and service businesses within the general business zoning framework.
Key Highlights
- 1,316 sq. ft. building on South Main Street configured for office and meeting use with private office, open work areas, and client workstation
- Zoned B3 – General Business District
- Mechanical updates include newer flooring and includes restroom, storage area, and mechanical room
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
$16,171
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
4.62%
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%
$323,420
$323.4K
Cap Rate 7%
$231,014
$231.0K
Cap Rate 9%
$179,678
$179.7K
Market Conditions
NOI Build-Up for 1,316 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
$28.3K $21.53/SF
− Vacancy
−$6.8K −$5.15/SF
EGI
$21.6K $16.38/SF
− OpEx
−$5.4K −$4.10/SF
NOI
$16.2K $12.29/SF
Area
Logan County, OH
Vacancy
23.90%
Lease Rate
$21.53 /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%
$323,420
Cap Rate 7%
$231,014
Cap Rate 9%
$179,678
Alternative Uses
Best Use
Office B
$231.0K
$202.1K – $269.5K
NOI $16,171 @ 7.0% cap · market cap 4.62%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$265.6K
$232.4K – $309.9K
NOI $18,595 @ 7.0% cap · market cap 5.31%
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
642
Businesses Nearby
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 Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Office building with private offices, open work areas, a client workstation, and a restroom, plus on-site parking.
Where is this office building located?
The property is located at 1534 S Main Street Bellefontaine, OH.
What is the asking price?
The asking price for this property is $349,900.
What are key features of this property?
This property features: 1,316 sq. ft. building on South Main Street configured for office and meeting use with private office, open work areas, and client workstation; Zoned B3 – General Business District; Mechanical updates include newer flooring and includes restroom, storage area, and mechanical room
