Adaptable Flex
For Sale
$160,000
239 W Locust St, Wilmington, OH 45177
Commercial property with an adaptable interior configuration for office, retail, service, or mixed-use applications.
Property Size1,100 SF
Price / SF$145.45
Days on Market71
Property Features for 239 W Locust St
General Information
Standard status
Active
Size
1,100 SF
Building Details
Year Built
1938
Listing Agency:
Epique Inc.
Listed By:
Christopher Swain
3820794
Source:
Missyfriede
Added: Aug 6
Changed: Oct 9
Last Checked: Oct 7 at 3:44PM
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 Epique Inc.
Investment Insights
Based on property information with market context.
Located at 239 W. Locust Street in Wilmington, this 1,100-square-foot flex space was constructed in 1938. Its adaptable interior can accommodate a range of business formats, including office, retail, service, or mixed-use applications.
The property is situated minutes from downtown and is surrounded by established businesses. Its location provides access to the surrounding Wilmington commercial area and supports a variety of potential business uses.
The property is situated minutes from downtown and is surrounded by established businesses. Its location provides access to the surrounding Wilmington commercial area and supports a variety of potential business uses.
Key Highlights
- 1,100‑square‑foot commercial property
- Built in 1938
- Adaptable interior layout
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$13,238
Cap Rate
8.27%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$264,760
$264.8K
Cap Rate 7%
$189,114
$189.1K
Cap Rate 9%
$147,089
$147.1K
Market Conditions
NOI Build-Up for 1,100 SF
Gross rent
$23.6K $21.48/SF
− Vacancy
−$6.0K −$5.43/SF
EGI
$17.7K $16.05/SF
− OpEx
−$4.4K −$4.01/SF
NOI
$13.2K $12.03/SF
Area
Clinton County, OH
Vacancy
25.30%
Lease Rate
$21.48 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$264,760
Cap Rate 7%
$189,114
Cap Rate 9%
$147,089
Alternative Uses
Best Use
Retail
$286.4K
$250.6K – $334.1K
NOI $20,046 @ 7.0% cap · market cap 12.53%
Second Best
Office B
$189.1K
$165.5K – $220.6K
NOI $13,238 @ 7.0% cap · market cap 8.27%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
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Current Use
Location Intelligence
Trade Area within ½ mile
687
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 45177, OH
22,349
Population
9,870
Households
2.3
Avg Household Size
40
Median Age
26%
College-Educated
94%
High-School Grad
170.0 sq mi
ZIP Area
131
Density / Sq Mi
$70,483
Median Household Income
$36,980
Median Earnings
$933
Median Rent
$209,400
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Midwest region
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Frequently Asked Questions
What type of property is this?
Flex space - Commercial property with an adaptable interior configuration for office, retail, service, or mixed-use applications.
Where is this flex space located?
The property is located at 239 W Locust St Wilmington, OH.
What is the asking price?
The asking price for this property is $160,000.
What are key features of this property?
This property features: 1,100‑square‑foot commercial property; Built in 1938; Adaptable interior layout
