Building Details

Buildings 1

Building Size 4,590 SF

Listing Agency: RE/MAX Realty of Defiance m***@remax.net Show Phone

Listed By: Matthew Joost · License #2016002565 Show Phone

Source: Exprealty

Added: Sep 3 Changed: Sep 29 Last Checked: Oct 5 at 8:30PM

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Investment Insights

Based on property information with market context.

This flex property includes a shop, office area, and restroom within a building measuring approximately 54' x 85', with around 4,590 square feet. The shop has concrete floors, insulation, suspended heat, LED lighting, and two overhead doors. Ceiling heights range from approximately 11 to 15 feet.

The building sits on 5+ acres across from the First Quality paper plant, with Defiance, Paulding, and Sherwood each described as minutes away. The acreage provides room for additional parking, storage, expansion, or future development.

Key Highlights

• 5+ acres with room for expansion, parking, storage, or future development
• Approximately 4,590 square feet in a 54' x 85' building
• Shop, office area, and restroom

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$18,983

Cap Rate

7.18%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$379,660 $379.7K

Cap Rate 7%

$271,186 $271.2K

Cap Rate 9%

$210,922 $210.9K

Market Conditions

NOI Build-Up for 4,590 SF

Gross rent

$29.4K $6.41/SF

− Vacancy

−$2.3K −$0.50/SF

EGI

$27.1K $5.91/SF

− OpEx

−$8.1K −$1.77/SF

NOI

$19.0K $4.14/SF

Area

Defiance County, OH

Vacancy

7.83%

Lease Rate

$6.41 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$379,660

Cap Rate 7%

$271,186

Cap Rate 9%

$210,922

Alternative Uses

Best Use

Flex RnD

$390.5K

$341.7K – $455.6K (±1% cap)

NOI $27,338 @ 7.0% cap · market cap 10.34%

Second Best

Industrial

$271.2K

$237.3K – $316.4K (±1% cap)

NOI $18,983 @ 7.0% cap · market cap 7.18%

Theoretical Best

Office A

$1.04M

$914.2K – $1.22M (±1% cap)

NOI $73,137 @ 7.0% cap · market cap 27.65%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Kingdom Auto Repair ... Auto Repair Shop Wagner Metal Supply Metal Industry Suppliers

Suggested Use

Top Pick Auto Repair Shop

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

15 ft

Clear height

Location Intelligence

Trade Area within ½ mile

3

Businesses Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Demographics for 43512, OH

28,208

Population

12,665

Households

2.2

Avg Household Size

42

Median Age

21%

College-Educated

93%

High-School Grad

217.7 sq mi

ZIP Area

130

Density / Sq Mi

$72,082

Median Household Income

$42,014

Median Earnings

$851

Median Rent

$149,300

Median Home Value

Market

Vacancy Rate% for Industrial in Midwest region

4.4% 2019

4.9% 2020

3.6% 2021

3.1% 2022

4.6% 2023

5% 2024

4.9% 2025

Questions? Ask Rey

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What type of property is this? Where is this flex space located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Flex space - A shop, office area, and restroom create a practical mix of work and administrative space.

Where is this flex space located?

The property is located at 18743 County Road 424 Defiance, OH.

What is the asking price?

The asking price for this property is $264,500.

What are key features of this property?

This property features: 5+ acres with room for expansion, parking, storage, or future development; Approximately 4,590 square feet in a 54' x 85' building; Shop, office area, and restroom