Multi-Use Flex
For Sale
$565,000
1809-1809 11th St, Portsmouth, OH 45662
Multi-use commercial space with office amenities and a freezer, plus truck loading area and parking.
Property Size10,577 SF
Price / SF$53.42
Days on Market146
Property Features for 1809-1809 11th St
General Information
Standard status
Active
Size
10,577 SF
Taxes and HOA fees
Annual Taxes
$2,821
Listing Agency:
Sinclair Real Estate
(740) 354-1151
Listed By:
Marsha Justice
(740) 352-6286
Source:
Exprealty
Added: Apr 20
Changed: Sep 2
Last Checked: Sep 11 at 1:49PM
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 Sinclair Real Estate
Investment Insights
Based on property information with market context.
This multi-use flex warehouse totals 10,577 SF and is configured for both office and operational needs. The space includes multiple offices, bathrooms, a conference room, a freezer, and a breakroom, with additional room that could be used as a medical/computer room or shop. The property also offers room to load and unload trucks to the right of the building, supporting light warehousing and user-operated functions.
The site includes a 60 x 130 parking lot, providing on-site space for staff and visitors. In addition to the main property, an additional parcel (31-3163) is available and could be used as a rental with some TLC, or as added parking if the existing home were removed, depending on the buyer’s intended plan.
The layout and amenities make the property practical for an owner-user seeking a combined work and office setup, or for a buyer evaluating a rental strategy. With multiple rooms that support office, conference, and operational uses, it may fit a range of tenants or businesses looking for flexible, functional space rather than a single-purpose facility.
The site includes a 60 x 130 parking lot, providing on-site space for staff and visitors. In addition to the main property, an additional parcel (31-3163) is available and could be used as a rental with some TLC, or as added parking if the existing home were removed, depending on the buyer’s intended plan.
The layout and amenities make the property practical for an owner-user seeking a combined work and office setup, or for a buyer evaluating a rental strategy. With multiple rooms that support office, conference, and operational uses, it may fit a range of tenants or businesses looking for flexible, functional space rather than a single-purpose facility.
Key Highlights
- 10,577 SF multi‑use commercial space with multiple offices, bathrooms, and a conference room
- Includes a freezer and breakroom, with flexibility to add a medial/computer room or shop
- On‑site parking with a 60 x 130 parking lot
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
Industrial
$620.9K
$543.3K – $724.4K
NOI $43,463 @ 7.0% cap · market cap 7.69%
Second Best
Flex RnD
$572.1K
$500.6K – $667.4K
NOI $40,044 @ 7.0% cap · market cap 7.09%
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
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Open Analytics
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in Midwest region
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Frequently Asked Questions
What type of property is this?
Flex space - Multi-use commercial space with office amenities and a freezer, plus truck loading area and parking.
Where is this flex space located?
The property is located at 1809-1809 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 SF multi‑use commercial space with multiple offices, bathrooms, and a conference room; Includes a freezer and breakroom, with flexibility to add a medial/computer room or shop; On‑site parking with a 60 x 130 parking lot
