Auto Repair Shop with Two Service
New
For Sale
$137,000
214 Kentucky Street, Lafayette, OH 45854
Separate work areas, a climate-controlled office, and detached storage provide a range of shop functions.
Property Size2,976 SF
Lot Size0.42 Acres
Price / SF$46.03
Days on Market3
Property Features for 214 Kentucky Street
General Information
Standard status
Active
Size
2,976 SF
Total Parking Spaces
10
Lot size
0.42 Acres
Zoning
455-Commercial Garages
Additional Details
Utilities to Site
Yes
Taxes and HOA fees
Annual Taxes
$689
Amenities
heated and air-conditioned office
natural gas forced air heat
220 volt single phase electric
paved asphalt lot
detached post frame storage building
garden shed
well
Concrete
true
1
See Remarks,Overhead Door
Buildings and land
Well,See Remarks
.42
See Remarks,Private
Asphalt
City Street,See Remarks
2976
2
Building Details
Building Size
2,976 SF
Year Built
1947
Stories
1
Listing Agency:
Ron Spencer Real Estate
Listed By:
Randall Faulder
(419) 302-6455
Source:
Koehlerrealty
Added: Oct 30
Last Checked: Oct 30 at 1:56AM
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 Ron Spencer Real Estate
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Investment Insights
Based on property information with market context.
The 2,976-square-foot auto shop has two service bays and several dedicated work areas. Interior spaces include a 10×14 heated and air-conditioned office, a 12×19 machine shop, a 28×27 car shop, an 18×32 woodworking shop, a 15×17 parts room, and a 17×18 cold storage area. The building has natural gas forced-air heat and 220-volt single-phase electric service. A paved asphalt lot provides 10+ parking spaces, and the property includes a well.
A detached 24×32 post-frame building has a concrete floor and two overhead doors. The property also includes a 12×19 garden shed. The site covers .42 acres and is zoned 455-Commercial Garages.
A detached 24×32 post-frame building has a concrete floor and two overhead doors. The property also includes a 12×19 garden shed. The site covers .42 acres and is zoned 455-Commercial Garages.
Key Highlights
- 2,976‑square‑foot auto shop with two service bays
- Work areas include a 12×19 machine shop, 28×27 car shop, and 18×32 woodworking shop
- 10×14 heated and air‑conditioned office; 15×17 parts room and 17×18 cold storage area
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$12,229
Cap Rate
8.93%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$244,580
$244.6K
Cap Rate 7%
$174,700
$174.7K
Cap Rate 9%
$135,878
$135.9K
Market Conditions
NOI Build-Up for 2,976 SF
Gross rent
$19.1K $6.41/SF
− Vacancy
−$1.6K −$0.54/SF
EGI
$17.5K $5.87/SF
− OpEx
−$5.2K −$1.76/SF
NOI
$12.2K $4.11/SF
Area
Allen 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 Rate 5%
$244,580
Cap Rate 7%
$174,700
Cap Rate 9%
$135,878
Alternative Uses
Best Use
Industrial
$174.7K
$152.9K – $203.8K
NOI $12,229 @ 7.0% cap · market cap 8.93%
Second Best
Retail
$168.7K
$147.6K – $196.9K
NOI $11,811 @ 7.0% cap · market cap 8.62%
Theoretical Best
Office A
$716.8K
$627.2K – $836.3K
NOI $50,177 @ 7.0% cap · market cap 36.63%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
Who owns this building?
See the owner, sales and loan history
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Current Use
Lease Details
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
35
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 45854, OH
461
Population
165
Households
2.8
Avg Household Size
37
Median Age
7%
College-Educated
100%
High-School Grad
0.4 sq mi
ZIP Area
1,153
Density / Sq Mi
$49,653
Median Household Income
$45,000
Median Earnings
$743
Median Rent
$121,700
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Midwest region
Frequently Asked Questions
What type of property is this?
Auto shop - Separate work areas, a climate-controlled office, and detached storage provide a range of shop functions.
Where is this auto shop located?
The property is located at 214 Kentucky Street Lafayette, OH.
What is the asking price?
The asking price for this property is $137,000.
What are key features of this property?
This property features: 2,976‑square‑foot auto shop with two service bays; Work areas include a 12×19 machine shop, 28×27 car shop, and 18×32 woodworking shop; 10×14 heated and air‑conditioned office; 15×17 parts room and 17×18 cold storage area
