Equipped Commercial Properties with
For Sale
Contact for pricing
Pending
37062 Hocking Dr, Logan, OH 43138
Two commercial properties tailored for welding, machining, metal, and lumber.
Property Size18,944 SF
Lot Size3.67 Acres
Days on Market437
Property Features for 37062 Hocking Dr
General Information
Standard status
Pending
Size
18,944 SF
Lot size
3.67 Acres
Property subtype
Business for Sale, Industrial
Zoning
industrial
Building Details
Buildings
3
Listing Agency:
CENTURY 21 Darfus Realty
(740) 304-4910
Listed By:
Shawna Linn · License #2019002167
Source:
Crexi
Added: Jun 20, 2025
Changed: Aug 8
Last Checked: Aug 29 at 1:36PM
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 Darfus Realty
Investment Insights
Based on property information with market context.
Two fully equipped commercial properties with a dedicated storefront are available. The industrial facility, situated on 3.67 acres in Logan, Ohio, offers 18,944 sq. ft. of versatile workspace. It is tailored for precision welding, metal sales, CNC machining operations, and lumberyard use. The property features spacious welding bays, a CNC machining area, and office space for administrative operations. Multiple overhead doors provide access, and ample parking is available for trucks. Secure storage is provided for raw materials and finished products. The location offers easy access to major highways and distribution routes, making it suitable for manufacturing, fabrication, or a custom metalwork business, as well as metal and lumber needs. This turnkey facility is ready to power your business forward.
Key Highlights
- Turnkey industrial facility with 18,944 sq. ft. of versatile workspace suitable for precision welding, metal sales, CNC machining, and lumberyard operations.
- Strategically located in Logan, Ohio, on 3.67 acres with easy access to major highways and distribution routes.
- Includes dedicated storefront and office space for administrative operations.
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
$220,108
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
8.80%
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%
$4,402,160
$4.4M
Cap Rate 7%
$3,144,400
$3.1M
Cap Rate 9%
$2,445,644
$2.4M
Market Conditions
NOI Build-Up for 18,944 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
$413.7K $21.84/SF
− Vacancy
−$99.3K −$5.24/SF
EGI
$314.4K $16.60/SF
− OpEx
−$94.3K −$4.98/SF
NOI
$220.1K $11.62/SF
Area
Hocking 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 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%
$4,402,160
Cap Rate 7%
$3,144,400
Cap Rate 9%
$2,445,644
Alternative Uses
Best Use
Industrial
$3.14M
$2.75M – $3.67M
NOI $220,108 @ 7.0% cap · market cap 8.80%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$3.82M
$3.34M – $4.45M
NOI $267,274 @ 7.0% cap · market cap 10.69%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
16
Businesses Nearby
Explore this area
Business Placement
Demographics for 43138, OH
18,445
Population
8,457
Households
2.2
Avg Household Size
42
Median Age
14%
College-Educated
87%
High-School Grad
175.8 sq mi
ZIP Area
105
Density / Sq Mi
$65,028
Median Household Income
$37,920
Median Earnings
$766
Median Rent
$169,100
Median Home Value
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Manufacturing property - Two commercial properties tailored for welding, machining, metal, and lumber.
Where is this manufacturing property located?
The property is located at 37062 Hocking Dr Logan, OH.
What is the asking price?
The asking price for this property is $2,500,000.
What are key features of this property?
This property features: Turnkey industrial facility with **18,944 sq. ft. of versatile workspace** suitable for precision welding, metal sales, CNC machining, and lumberyard operations.; Strategically located in Logan, Ohio, on 3.67 acres with easy access to major highways and distribution routes.; Includes dedicated storefront and office space for administrative operations.
