Mixed-Use Property with Overhead
For Sale
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283 E Main Street #A, Newark, OH 43055
The interior combines private offices and a reception/showroom area with storage access through two overhead doors.
Property Size5,000 SF
Price / SF$0.50
Days on Market58
Property Features for 283 E Main Street #A
General Information
Standard status
Active
Size
5,000 SF
Property subtype
Mixed Use
Additional Details
Property Use
Flex
Building Details
Year Built
1976
Listing Agency:
Shai-Hess Commerical Real Estate, LLC
(740) 587-7441
Listed By:
Joseph Gebhart · License #2005015521
(740) 334-2863
Source:
Livewellhomegrp
Added: Sep 3
Changed: Oct 28
Last Checked: Oct 28 at 4:40PM
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 Shai-Hess Commerical Real Estate, LLC
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Investment Insights
Based on property information with market context.
This mixed-use property has a remodeled interior with two private offices and a reception/showroom area. Two overhead doors connect to the storage area, one measuring 14 feet and the other 12 feet. The building was constructed in 1976.
Key Highlights
- Remodeled interior with two private offices and a reception/showroom area
- Two overhead doors: one 14 feet and one 12 feet
- Built in 1976
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$58,094
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,161,880
$1.2M
Cap Rate 7%
$829,914
$829.9K
Cap Rate 9%
$645,489
$645.5K
Market Conditions
NOI Build-Up for 5,000 SF
Gross rent
$109.2K $21.84/SF
− Vacancy
−$26.2K −$5.24/SF
EGI
$83.0K $16.60/SF
− OpEx
−$24.9K −$4.98/SF
NOI
$58.1K $11.62/SF
Area
Licking County, OH
Vacancy
24.00%
Lease Rate
$21.84 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,161,880
Cap Rate 7%
$829,914
Cap Rate 9%
$645,489
Alternative Uses
Best Use
Flex RnD
$4.02M
$3.51M – $4.68M
NOI $281,093 @ 7.0% cap · market cap 11,243.72%
Second Best
Mixed Use
$1.16M
$1.02M – $1.36M
NOI $81,354 @ 7.0% cap · market cap 3,254.16%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
559
Businesses Nearby
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Business Placement
Demographics for 43055, OH
62,590
Population
27,046
Households
2.3
Avg Household Size
40
Median Age
23%
College-Educated
92%
High-School Grad
112.7 sq mi
ZIP Area
555
Density / Sq Mi
$61,807
Median Household Income
$39,412
Median Earnings
$920
Median Rent
$185,300
Median Home Value
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Market
Vacancy Rate% for Industrial in Midwest region
Frequently Asked Questions
What type of property is this?
Mixed-use property - The interior combines private offices and a reception/showroom area with storage access through two overhead doors.
Where is this mixed-use property located?
The property is located at 283 E Main Street #A Newark, OH.
What are key features of this property?
This property features: Remodeled interior with two private offices and a reception/showroom area; Two overhead doors: one 14 feet and one 12 feet; Built in 1976
