Office Building at Signalized
For Sale
$349,900
1534 S Main Street, Bellefontaine, OH 43311
Commercial Sale, Bellefontaine, OH
Property Size1,316 SF
Lot Size0.23 Acres
Price / SF$265.88
Days on Market105
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
Forced Air, Natural Gas
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) 935-1392
Added: Jun 11
Changed: Sep 13
Last Checked: Sep 23 at 6:06PM
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 1,316-square-foot office building sits on a 0.23-acre parcel and is configured for office and meeting functions. The interior includes private offices, open work areas, a client workstation, restroom, storage, and a mechanical room. Newer flooring, central air, forced-air heating, and natural gas service are among the property features. Construction is vinyl siding, and the building dates to 1960.
Located at a signalized intersection on South Main Street, the property has average daily traffic counts of 15-18k and sits directly across from Chipotle and Tsunami Car Wash. The B3 - General Business District zoning and public sewer support its existing commercial configuration. On-site parking includes 5 concrete spaces at the front and 5 asphalt spaces at the rear.
Located at a signalized intersection on South Main Street, the property has average daily traffic counts of 15-18k and sits directly across from Chipotle and Tsunami Car Wash. The B3 - General Business District zoning and public sewer support its existing commercial configuration. On-site parking includes 5 concrete spaces at the front and 5 asphalt spaces at the rear.
Key Highlights
- 1,316‑square‑foot office building on a 0.23‑acre parcel
- B3 - General Business District zoning
- Signalized South Main Street intersection with 15‑18k average daily traffic
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
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Open Analytics
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
295
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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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 units - B3-zoned office property with private rooms, open work areas, and dedicated on-site parking.
Where is this office units 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‑square‑foot office building on a 0.23‑acre parcel; B3 - General Business District zoning; Signalized South Main Street intersection with 15‑18k average daily traffic
