Warehouse with Three Overhead
For Sale
$237,500
2420 Wilmer Street, Zanesville, OH 43701
Commercially zoned warehouse with utilities, concrete flooring, and roughed-in plumbing.
Property Size3,150 SF
Price / SF$89.96
Days on Market173
Property Features for 2420 Wilmer Street
General Information
Standard status
Active
Size
3,150 SF
Total Parking Spaces
4
Property subtype
Commercial
Zoning
Commercial
Warehouse & Industrial
Warehouse Space
2,640 SF
Drive-In Doors
3
Additional Details
Utilities to Site
Yes
Taxes and HOA fees
Annual Taxes
$1,207
Building Details
Building Size
3,150 SF
Year Built
2022
Buildings
1
Stories
1
Listing Agency:
Olde Town Realty
(740) 607-4750
Listed By:
Alan H Wilson · License #2003017451
(740) 607-4750
Source:
Carolgoffrealestate
Added: Mar 11
Changed: Aug 29
Last Checked: Aug 29 at 1:51PM
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 Olde Town Realty
Investment Insights
Based on property information with market context.
Constructed in 2022, this 2,640-square-foot warehouse provides an enclosed setting for storage or commercial operations. The building measures 30 feet by 88 feet and includes a concrete floor, electricity, water service, and roughed-in plumbing for a bathroom. Three overhead doors, each measuring 12 feet high by 12 feet wide, accommodate motor homes, campers, boats, automobiles, trucks, and other stored property.
The property is located at 2420 Wilmer Street in Zanesville, Ohio, just off Maple Avenue, with Commercial zoning. The building is vacant and available for inspection, allowing a buyer to evaluate its condition and configuration for storage or business use.
The property is located at 2420 Wilmer Street in Zanesville, Ohio, just off Maple Avenue, with Commercial zoning. The building is vacant and available for inspection, allowing a buyer to evaluate its condition and configuration for storage or business use.
Key Highlights
- 2,640 square feet on a 30‑foot by 88‑foot footprint
- Three 12‑foot high by 12‑foot wide overhead doors
- Built in 2022
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
$19,827
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
8.35%
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%
$396,540
$396.5K
Cap Rate 7%
$283,243
$283.2K
Cap Rate 9%
$220,300
$220.3K
Market Conditions
NOI Build-Up for 2,640 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
$25.0K $9.48/SF
− Vacancy
−$1.7K −$0.64/SF
EGI
$23.3K $8.84/SF
− OpEx
−$3.5K −$1.33/SF
NOI
$19.8K $7.51/SF
Area
Muskingum County, OH
Vacancy
6.80%
Lease Rate
$9.48 /SF/Yr
Expense Ratio
15.00%
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%
$396,540
Cap Rate 7%
$283,243
Cap Rate 9%
$220,300
Alternative Uses
Best Use
Warehouse
$283.2K
$247.8K – $330.5K
NOI $19,827 @ 7.0% cap · market cap 8.35%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$573.0K
$501.4K – $668.5K
NOI $40,109 @ 7.0% cap · market cap 16.89%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Drive-in doors
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,132
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 43701, OH
55,361
Population
25,785
Households
2.1
Avg Household Size
42
Median Age
18%
College-Educated
90%
High-School Grad
180.5 sq mi
ZIP Area
307
Density / Sq Mi
$54,900
Median Household Income
$34,345
Median Earnings
$819
Median Rent
$164,200
Median Home Value
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
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Similar Off Market Nearby
- Flaggs' Mini-Storage — 1901 Hoge Ave, Zanesville, OH 43701
Frequently Asked Questions
What type of property is this?
Warehouse - Commercially zoned warehouse with utilities, concrete flooring, and roughed-in plumbing.
Where is this warehouse located?
The property is located at 2420 Wilmer Street Zanesville, OH.
What is the asking price?
The asking price for this property is $237,500.
What are key features of this property?
This property features: 2,640 square feet on a 30‑foot by 88‑foot footprint; Three 12‑foot high by 12‑foot wide overhead doors; Built in 2022
