Flex Property with Office and
For Sale
$475,000
4199 Main Street, Perry, OH 44081
CommercialSale, Perry, OH
Property Size7,500 SF
Lot Size0.75 Acres
Price / SF$63.33
Days on Market114
Property Features for 4199 Main Street
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning description
Commercial
Parking
10
Subdivision
Perry Township
Elementary school district
Perry LSD Lake- 4307
Middle school district
Perry LSD Lake- 4307
High school district
Perry LSD Lake- 4307
Directions
SR-20 turn south onto Center St then east onto Main Street.
Standard status
Active
APN
04-A-053-A-00-032-0
Lot size
0.75 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
LOT 54 & 55
Tax Annual Amount
8518
Legal Description
LOT 54 & 55
Utilities
Sewer type
Public Sewer
Heating system
Forced Air, Natural Gas
Cooling system
Central Air
Water source
Public
Building Details
Year built
1940
Number of units
3
Roof type
Shingle
Listing Agency:
Platinum Real Estate
(888) 974-7253
Listed By:
Tim Cline · License #2022005754
(440) 749-5182
Added: May 1
Changed: Aug 20
Last Checked: Aug 22 at 5:06PM
MLS# 5206393
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.
Investment Insights
Based on property information with market context.
This flex property at 4199 Main Street in Perry, Ohio, combines approximately 3,750 SF of vacant office space with an additional approximately 3,750 SF warehouse area. The office component spans upper and lower levels and includes multiple private offices, a reception area, two restrooms, and a kitchenette. The configuration supports office, storage, warehouse, or vehicle-collection uses, subject to verification of permitted uses and property information.
The warehouse is leased on a month-to-month basis, while the office area is available for an owner-occupant or investor. The 0.75-acre property was built in 1940 and has forced-air natural gas heat, central air, public water, public sewer, and a shingle roof.
The warehouse is leased on a month-to-month basis, while the office area is available for an owner-occupant or investor. The 0.75-acre property was built in 1940 and has forced-air natural gas heat, central air, public water, public sewer, and a shingle roof.
Key Highlights
- Approximately 3,750 SF of vacant office space
- Additional approximately 3,750 SF warehouse leased month‑to‑month
- Office layout includes private offices, reception, two restrooms, and kitchenette
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
$35,054
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
7.38%
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%
$701,080
$701.1K
Cap Rate 7%
$500,771
$500.8K
Cap Rate 9%
$389,489
$389.5K
Market Conditions
NOI Build-Up for 7,500 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
$42.8K $5.71/SF
− Vacancy
−$1.6K −$0.21/SF
EGI
$41.2K $5.50/SF
− OpEx
−$6.2K −$0.82/SF
NOI
$35.1K $4.67/SF
Area
Lake County, OH
Vacancy
3.70%
Lease Rate
$5.71 /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%
$701,080
Cap Rate 7%
$500,771
Cap Rate 9%
$389,489
Alternative Uses
Best Use
Office B
$1.36M
$1.19M – $1.58M
NOI $94,991 @ 7.0% cap · market cap 20.00%
Second Best
Warehouse
$500.8K
$438.2K – $584.2K
NOI $35,054 @ 7.0% cap · market cap 7.38%
Theoretical Best
Office A
$1.73M
$1.52M – $2.02M
NOI $121,256 @ 7.0% cap · market cap 25.53%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
67
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 44081, OH
6,930
Population
2,749
Households
2.5
Avg Household Size
44
Median Age
29%
College-Educated
96%
High-School Grad
20.6 sq mi
ZIP Area
336
Density / Sq Mi
$93,929
Median Household Income
$50,579
Median Earnings
$894
Median Rent
$238,700
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Flex space - Two-level office component with private rooms, reception, restrooms, kitchenette, and additional leased warehouse space.
Where is this flex space located?
The property is located at 4199 Main Street Perry, OH.
What is the asking price?
The asking price for this property is $475,000.
What are key features of this property?
This property features: Approximately 3,750 SF of vacant office space; Additional approximately 3,750 SF warehouse leased month‑to‑month; Office layout includes private offices, reception, two restrooms, and kitchenette
