12-Unit Flex
For Sale
Contact for pricing
1793 North Main Street, Orrville, OH 44667
The property combines a service-repair garage with an occupied leased suite.
Property Size12,080 SF
Lot Size1.38 Acres
Price / SF$101.41
Days on Market382
Property Features for 1793 North Main Street
General Information
Standard status
Active
Size
12,080 SF
Total Parking Spaces
60
Lot size
1.38 Acres
Property subtype
INDUSTRIAL
Additional Details
Road Access
Yes
Drive-In Doors
4
Amenities
Drive-In Doors
Reception Area
Private Office
Training Room
Restrooms
Building Details
Year Built
2017
Buildings
1
Building Size
12,080 SF
Listing Agency:
Gerspacher Real Estate Group
(330) 634-5289
Listed By:
Sam Tecca
(330) 634-5289
Source:
Moodyscre
Added: Aug 15, 2025
Changed: Aug 30
Last Checked: Aug 30 at 8:00PM
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 Gerspacher Real Estate Group
Investment Insights
Based on property information with market context.
This 12,080 SF flex property sits on 1.38 AC and is divided into two suites. The 6,040 SF right-side unit is configured for service and repair work, with a reception area at the front, one private office, a large training room, restrooms, and drive-in access. Four 14 FT drive-in doors serve the building in total.
The left-side suite is leased to Lincare through April 30, 2029, while the service-repair space provides substantial functional area for an owner-user or commercial operator. The property was built in 2017 and includes 60 parking spaces. Its parking lot was resurfaced in 2025.
The left-side suite is leased to Lincare through April 30, 2029, while the service-repair space provides substantial functional area for an owner-user or commercial operator. The property was built in 2017 and includes 60 parking spaces. Its parking lot was resurfaced in 2025.
Key Highlights
- 12,080 SF flex building on 1.38 AC
- 6,040 SF service‑repair garage with reception, private office, training room, and restrooms
- Four 14 FT drive‑in doors serve the building
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
$60,276
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
4.92%
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%
$1,205,520
$1.2M
Cap Rate 7%
$861,086
$861.1K
Cap Rate 9%
$669,733
$669.7K
Market Conditions
NOI Build-Up for 12,080 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
$77.4K $6.41/SF
− Vacancy
−$6.5K −$0.54/SF
EGI
$70.9K $5.87/SF
− OpEx
−$10.6K −$0.88/SF
NOI
$60.3K $4.99/SF
Area
Wayne County, OH
Vacancy
8.42%
Lease Rate
$6.41 /SF/Yr
Expense Ratio
15.00%
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%
$1,205,520
Cap Rate 7%
$861,086
Cap Rate 9%
$669,733
Alternative Uses
Best Use
Retail
$1.74M
$1.52M – $2.03M
NOI $121,513 @ 7.0% cap · market cap 9.92%
Second Best
Warehouse
$861.1K
$753.5K – $1.00M
NOI $60,276 @ 7.0% cap · market cap 4.92%
Theoretical Best
Multifamily LT 5
$8.83M
$7.73M – $10.30M
NOI $618,031 @ 7.0% cap · market cap 50.45%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Drive-in doors
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
81
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 44667, OH
13,723
Population
5,381
Households
2.6
Avg Household Size
39
Median Age
25%
College-Educated
88%
High-School Grad
44.7 sq mi
ZIP Area
307
Density / Sq Mi
$72,402
Median Household Income
$41,792
Median Earnings
$852
Median Rent
$196,300
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?
Flex space - The property combines a service-repair garage with an occupied leased suite.
Where is this flex space located?
The property is located at 1793 North Main Street Orrville, OH.
What is the asking price?
The asking price for this property is $1,225,000.
What are key features of this property?
This property features: 12,080 SF flex building on 1.38 AC; 6,040 SF service‑repair garage with reception, private office, training room, and restrooms; Four 14 FT drive‑in doors serve the building
