Flex Building with
For Sale
$3,000,000
3071 Sportsman Club Road NW, Johnstown, OH 43031
Recently completed flex property combining finished office space with a substantial warehouse component and extensive on-site improvements.
Property Size14,540 SF
Lot Size21.00 Acres
Price / SF$206.26
Days on Market47
Property Features for 3071 Sportsman Club Road NW
General Information
Standard status
Active
Size
14,540 SF
Lot size
21.00 Acres
Property subtype
Commercial
Site & Location
Highway Access
Yes
Utilities to Site
Yes
Warehouse & Industrial
Warehouse Space
7,496 SF
Drive-In Doors
16
Power
400 amps
Additional Details
Furnished
No
Taxes and HOA fees
Annual Taxes
$9,120
Amenities
keypad entry
cat 6 fiber
central vacuum system
security camera system
large kitchen
conference room
break room
Building Details
Building Size
14,540 SF
Year Built
2024
Buildings
1
Construction
metal siding
Listing Agency:
Century 21 Frank Frye
(740) 345-4001
Listed By:
Cynthia Layton · License #2016005667
Source:
Honnerlawrealestate
Added: Jul 15
Changed: Aug 30
Last Checked: Aug 25 at 9:18AM
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 Century 21 Frank Frye
Investment Insights
Based on property information with market context.
Completed in 2024, this 14,545-square-foot flex property combines a finished office component with approximately 7,496 square feet of warehouse area. The office layout includes approximately 9 offices, conference and meeting areas, a file room, telecom room, marketing room, kitchen, and 6 restrooms. Interior improvements include LED and motion-sensor lighting, Cat 6 fiber, keypad access, new carpet, 3G concrete coating, and a central vacuum system.
The warehouse provides 16 overhead drive-in doors, including 14 doors measuring 10x10 and 2 measuring 14x12, along with a 250,000 BTU gas heater and kitchenette. The building has 400 Amp electric service, security cameras, a metal exterior and roof, upgraded insulation, and a 50 Amp RV connection with water and sewer hookup. The property encompasses over 21 wooded acres adjoining the Links at EchoSprings Golf Course, with access to Rt 13, 661, SR 16, SR 161, SR 40, Rt 70, and Rt 270. Business use should be reviewed with McKean Twp Zoning during due diligence.
The warehouse provides 16 overhead drive-in doors, including 14 doors measuring 10x10 and 2 measuring 14x12, along with a 250,000 BTU gas heater and kitchenette. The building has 400 Amp electric service, security cameras, a metal exterior and roof, upgraded insulation, and a 50 Amp RV connection with water and sewer hookup. The property encompasses over 21 wooded acres adjoining the Links at EchoSprings Golf Course, with access to Rt 13, 661, SR 16, SR 161, SR 40, Rt 70, and Rt 270. Business use should be reviewed with McKean Twp Zoning during due diligence.
Key Highlights
- 14,545 sf flex building completed in 2024
- Approximately 7,496 sf warehouse with 16 overhead drive‑in doors
- Over 21 Wooded Acres backing up to the Links at EchoSprings Golf Course
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
$205,210
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
6.84%
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%
$4,104,200
$4.1M
Cap Rate 7%
$2,931,571
$2.9M
Cap Rate 9%
$2,280,111
$2.3M
Market Conditions
NOI Build-Up for 14,545 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
$317.7K $21.84/SF
− Vacancy
−$76.2K −$5.24/SF
EGI
$241.4K $16.60/SF
− OpEx
−$36.2K −$2.49/SF
NOI
$205.2K $14.11/SF
Area
Licking County, OH
Vacancy
24.00%
Lease Rate
$21.84 /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%
$4,104,200
Cap Rate 7%
$2,931,571
Cap Rate 9%
$2,280,111
Alternative Uses
Best Use
Flex RnD
$11.68M
$10.22M – $13.63M
NOI $817,698 @ 7.0% cap · market cap 27.26%
Second Best
Warehouse
$2.93M
$2.57M – $3.42M
NOI $205,210 @ 7.0% cap · market cap 6.84%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
16
Drive-in doors
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
7
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 43031, OH
13,189
Population
5,240
Households
2.5
Avg Household Size
42
Median Age
41%
College-Educated
97%
High-School Grad
85.0 sq mi
ZIP Area
155
Density / Sq Mi
$109,652
Median Household Income
$58,405
Median Earnings
$1,005
Median Rent
$341,300
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Recently completed flex property combining finished office space with a substantial warehouse component and extensive on-site improvements.
Where is this flex space located?
The property is located at 3071 Sportsman Club Road NW Johnstown, OH.
What is the asking price?
The asking price for this property is $3,000,000.
What are key features of this property?
This property features: 14,545 sf flex building completed in 2024; Approximately 7,496 sf warehouse with 16 overhead drive‑in doors; Over 21 Wooded Acres backing up to the Links at EchoSprings Golf Course
