Warehouse with Two Garage
New
For Sale
$250,000
209 Foundry Ave, Batavia, OH 45103
Warehouse property with office, reception area, half bath, and lease availability.
Property Size1,658 SF
Price / SF$150.78
Days on Market2
Property Features for 209 Foundry Ave
General Information
Standard status
Active
Size
1,658 SF
Warehouse & Industrial
Clear Height
13 ft
Office Build-Out
110 SF
Drive-In Doors
2
Amenities
2-door garage
office
reception area
half bath
13-foot ceiling height
new roof (2022)
waterfront land
Building Details
Year Built
1950
Year Renovated
2022
Buildings
1
Listing Agency:
eXp Realty
Listed By:
Tammy R. Gibbs
(513) 515-9533
Source:
Finn-team
Added: Sep 21
Last Checked: Sep 21 at 3:14PM
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 eXp Realty
Investment Insights
Based on property information with market context.
This 1,658-square-foot warehouse includes two garage doors, an office, a reception area, and a half bath. The office measures 10 x 11 feet, while the reception area measures 10 x 14 feet. A 13-foot ceiling provides additional vertical clearance for storage or automotive operations.
The roof was replaced in 2022. The property can support auto body shop or storage use and is also available for lease. Additional waterfront land is included across Foundry Ave.
The roof was replaced in 2022. The property can support auto body shop or storage use and is also available for lease. Additional waterfront land is included across Foundry Ave.
Key Highlights
- 1,658‑square‑foot warehouse with two garage doors
- Office measures 10 x 11 feet
- Reception area measures 10 x 14 feet
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
$16,103
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
6.44%
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%
$322,060
$322.1K
Cap Rate 7%
$230,043
$230.0K
Cap Rate 9%
$178,922
$178.9K
Market Conditions
NOI Build-Up for 1,658 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
$24.9K $15.00/SF
− Vacancy
−$1.9K −$1.13/SF
EGI
$23.0K $13.88/SF
− OpEx
−$6.9K −$4.16/SF
NOI
$16.1K $9.71/SF
Area
Clermont County, OH
Vacancy
7.50%
Lease Rate
$15.00 /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%
$322,060
Cap Rate 7%
$230,043
Cap Rate 9%
$178,922
Alternative Uses
Best Use
Retail
$230.0K
$201.3K – $268.4K
NOI $16,103 @ 7.0% cap · market cap 6.44%
Second Best
Warehouse
$150.4K
$131.6K – $175.5K
NOI $10,531 @ 7.0% cap · market cap 4.21%
Theoretical Best
Office A
$297.2K
$260.1K – $346.8K
NOI $20,807 @ 7.0% cap · market cap 8.32%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
13 ft
Clear height
2
Drive-in doors
Location Intelligence
Trade Area within ½ mile
362
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 45103, OH
35,237
Population
14,928
Households
2.4
Avg Household Size
39
Median Age
27%
College-Educated
90%
High-School Grad
85.3 sq mi
ZIP Area
413
Density / Sq Mi
$81,837
Median Household Income
$45,027
Median Earnings
$1,050
Median Rent
$242,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Industrial in Midwest region
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Similar Off Market Nearby
- Riverside Storage — 410 S Riverside Dr, Batavia, OH 45103
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- Eastside Storage — 4400 OH-222, Batavia, OH 45103
Frequently Asked Questions
What type of property is this?
Warehouse - Warehouse property with office, reception area, half bath, and lease availability.
Where is this warehouse located?
The property is located at 209 Foundry Ave Batavia, OH.
What is the asking price?
The asking price for this property is $250,000.
What are key features of this property?
This property features: 1,658‑square‑foot warehouse with two garage doors; Office measures 10 x 11 feet; Reception area measures 10 x 14 feet
