Flex Space with Office
For Sale
$565,000
1809 11th St., Portsmouth, OH 45662
Commercial Sale, Portsmouth, OH
Property Size10,577 SF
Price / SF$53.42
Days on Market124
Property Features for 1809 11th St.
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
Commercial
Subdivision
Portsmouth
Standard status
Active
APN
32-0578, 32-0577, & 32-2163
Size
10,577 SF
Taxes and HOA fees
Tax Description
T & MCC ALL LOT 10 PT LOT 11 N2 COR 12
Tax Annual Amount
2822
Legal Description
T & MCC ALL LOT 10 PT LOT 11 N2 COR 12
Utilities
Sewer type
Public Sewer
Water source
Public
Amenities
multiple offices
bathrooms
conference room
freezer
breakroom
Building Details
Year built
1900
Flooring type
Concrete
Listing Agency:
Sinclair Real Estate
(740) 354-1151
Listed By:
Marsha Justice
(740) 352-6286
Added: Apr 20
Changed: Aug 19
Last Checked: Aug 21 at 3:06PM
MLS# 155447
Copyright © 2026 Greater Portsmouth Area Multiple Listing Service. 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 10,577-square-foot flex space at 1809 11th St. in Portsmouth, Ohio, combines office and commercial utility within a substantial existing building. The interior includes multiple offices, bathrooms, a conference room, freezer, breakroom, and concrete flooring. A designated area can accommodate loading and unloading activity beside the property.
The property carries Commercial zoning and is served by public water and public sewer. Built in 1900, the building offers a broad multi-use configuration with practical support areas for business operations, storage, or service-oriented functions.
The property carries Commercial zoning and is served by public water and public sewer. Built in 1900, the building offers a broad multi-use configuration with practical support areas for business operations, storage, or service-oriented functions.
Key Highlights
- 10,577 square feet of multi‑use commercial space
- 60 x 130 parking lot
- Multiple offices, bathrooms, and conference 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
$43,463
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
7.69%
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%
$869,260
$869.3K
Cap Rate 7%
$620,900
$620.9K
Cap Rate 9%
$482,922
$482.9K
Market Conditions
NOI Build-Up for 10,577 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
$67.8K $6.41/SF
− Vacancy
−$5.7K −$0.54/SF
EGI
$62.1K $5.87/SF
− OpEx
−$18.6K −$1.76/SF
NOI
$43.5K $4.11/SF
Area
Scioto 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%
$869,260
Cap Rate 7%
$620,900
Cap Rate 9%
$482,922
Alternative Uses
Best Use
Office B
$1.85M
$1.62M – $2.16M
NOI $129,671 @ 7.0% cap · market cap 22.95%
Second Best
Industrial
$620.9K
$543.3K – $724.4K
NOI $43,463 @ 7.0% cap · market cap 7.69%
Theoretical Best
Office A
$2.25M
$1.97M – $2.63M
NOI $157,560 @ 7.0% cap · market cap 27.89%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
594
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 45662, OH
27,718
Population
12,955
Households
2.1
Avg Household Size
39
Median Age
17%
College-Educated
87%
High-School Grad
55.5 sq mi
ZIP Area
499
Density / Sq Mi
$37,345
Median Household Income
$30,399
Median Earnings
$756
Median Rent
$98,100
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?
Flex space - Multi-use layout includes offices, bathrooms, a conference room, freezer, and breakroom.
Where is this flex space located?
The property is located at 1809 11th St. Portsmouth, OH.
What is the asking price?
The asking price for this property is $565,000.
What are key features of this property?
This property features: 10,577 square feet of multi‑use commercial space; 60 x 130 parking lot; Multiple offices, bathrooms, and conference room
