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    3510 State Route 39 Millersburg, OH 44654

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    Claim this Listing
    Pending
    $4,500 /Mo

    COMMERCIAL - Millersburg, OH

    Property size:
    12,600 SF
    Lot size:
    1.44 Acres
    Added:
    Mar 13, 2026
    Days on Market:
    46
    Last Refresh:
    Apr 27 at 6:06 pm

    Property Features for 3510 State Route 39

    General Information

    Property type
    Commercial Lease
    Property subtype
    Other
    Standard status
    Pending
    APN
    26-01291.002
    Size
    12,600 SF
    Lot size
    1.44 Acres

    Utilities

    Sewer type
    Private Sewer
    Heating system
    Natural Gas
    Cooling system
    Window Unit(s)
    Water source
    Private

    Building Details

    Year built
    1990

    We can help!

    Listing Contact
    Jamie H Miller

    Listing agent Jamie H Miller License #2022007784

    Listing office Kaufman Realty & Auction, LLC. 1047 W Main Street, OH

    Listing date Mar 13, 2026

    MLS# 5192979

    Copyright © 2026 MLS Now. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Millersburg Commercial Space For Lease

    This commercial space for lease offers a great opportunity for industrial or manufacturing purposes. The building provides approximately 12,600 square feet of available space, equipped with 3-phase electric power and ample storage capacity. The property features concrete floors and one bathroom. Approximately half of the building has 16-foot ceilings and is heated, with window units available for air conditioning. The remaining half has 8-foot ceilings and is not heated. The property includes convenient loading docks designed to facilitate efficient shipping and receiving operations. The lot size is 1.436 acres.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Manufacturing properties

    Suggested Use

    Spa & Massage Center Building Supply Auto Repair Shop Big Box & Wholesale Store Hotel & Motel Skin Care Clinic Food Market Storage Facility HVAC Service Discount Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Millersburg
    County
    Holmes
    State
    Ohio
    Longitude
    -81.74972
    Latitude
    40.546275

    Nearby Similar for Lease

    • $3,900/Mo

      Visible Office Space Near Winesburg

      Office space with high visibility and flexible layout options.
      7400 State Route 515, Millersburg, OH 44654
      View Details
    • $6,500/Mo

      Versatile Commercial Property with Dry Kilns

      Industrial, manufacturing, or storage property with versatile building space.
      6470 Township Road 310, Millersburg, OH 44654
      View Details
    • $3,900/Mo

      Commercial Property on State Route

      Commercial property for rent located on State Route 515.
      7400 State Route 515, Millersburg, OH 44654
      View Details

    FAQs

    What type of property is this?
    Manufacturing property - Commercial space ideal for industrial or manufacturing use.
    Where is this manufacturing property located?
    The property is located at 3510 State Route 39 Millersburg, OH.
    What is the lease rate?
    The lease rate is $4,500 /Mo.
    What are key features of this property?
    This property features: 12,600 sq. ft. of available commercial space.; Suitable for industrial or manufacturing use.; Features convenient loading docks.
    (330) 275-7202
    We can help!
    Listing Contact
    Jamie H Miller
    Real Estate License ID: 2022007784
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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