Mixed-Use Unit with Overhead
For Sale
Contact for pricing
15630 STATE RTE 12, Findlay, OH 45840
Heated and cooled commercial unit with retail space, upper-level flexibility, and a dedicated bathroom.
Property Size1,210 SF
Price / SF$107.36
Days on Market62
Property Features for 15630 STATE RTE 12
General Information
Standard status
Active
Size
1,210 SF
Total Parking Spaces
3
Property subtype
Retail, Mixed Use, Self Storage
Additional Details
Road Access
Yes
Amenities
lawn care
snow removal
Building Details
Units
1
Tenancy
Multi
Listing Agency:
Key Realty
Listed By:
Chris Keller · License #2022006926
Source:
Crexi
Added: Jun 30
Changed: Aug 29
Last Checked: Aug 29 at 5:33PM
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 Key Realty
Investment Insights
Based on property information with market context.
This 1,210-square-foot mixed-use unit combines retail or small-business space with a substantial storage area and an upstairs room suitable for office or additional storage use. A 14-foot overhead door supports access to the storage area, while the unit also includes a bathroom and heating and cooling throughout.
The property fronts State Route 12 east of Findlay, Ohio. Association services cover lawn care and snow removal. Photography studio equipment is available for negotiation.
The property fronts State Route 12 east of Findlay, Ohio. Association services cover lawn care and snow removal. Photography studio equipment is available for negotiation.
Key Highlights
- 1,210 SF mixed‑use unit with retail or small‑business space
- 14‑foot overhead door serving the storage area
- Upstairs space for office or additional storage use
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
$4,972
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
3.83%
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%
$99,440
$99.4K
Cap Rate 7%
$71,029
$71.0K
Cap Rate 9%
$55,244
$55.2K
Market Conditions
NOI Build-Up for 1,210 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
$7.8K $6.41/SF
− Vacancy
−$653 −$0.54/SF
EGI
$7.1K $5.87/SF
− OpEx
−$2.1K −$1.76/SF
NOI
$5.0K $4.11/SF
Area
Hancock County, OH
Vacancy
8.42%
Lease Rate
$6.41 /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%
$99,440
Cap Rate 7%
$71,029
Cap Rate 9%
$55,244
Alternative Uses
Best Use
Mixed Use
$201.7K
$176.5K – $235.3K
NOI $14,116 @ 7.0% cap · market cap 10.87%
Second Best
Industrial
$71.0K
$62.2K – $82.9K
NOI $4,972 @ 7.0% cap · market cap 3.83%
Theoretical Best
Specialty Retail
$337.5K
$295.3K – $393.8K
NOI $23,625 @ 7.0% cap · market cap 18.19%
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
29
Businesses Nearby
Explore this area
Business Placement
Demographics for 45840, OH
54,901
Population
25,396
Households
2.2
Avg Household Size
40
Median Age
33%
College-Educated
95%
High-School Grad
166.5 sq mi
ZIP Area
330
Density / Sq Mi
$64,076
Median Household Income
$42,546
Median Earnings
$934
Median Rent
$203,800
Median Home Value
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Heated and cooled commercial unit with retail space, upper-level flexibility, and a dedicated bathroom.
Where is this mixed-use property located?
The property is located at 15630 STATE RTE 12 Findlay, OH.
What is the asking price?
The asking price for this property is $129,900.
What are key features of this property?
This property features: 1,210 SF mixed‑use unit with retail or small‑business space; 14‑foot overhead door serving the storage area; Upstairs space for office or additional storage use
