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    Flex Industrial Property with Office Title is generated by Realmo AI

    432 South Ewing Street, Lancaster, OH 43130

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    For Sale
    $975,000

    Multi-building industrial site with office space, drive-through doors, and loading docks across four pole buildings.

    Type:Industrial / Industrial
    Property size:
    1,344 SF
    Lot size:
    5.75 Acres
    Price / SF:
    $725/SF
    Added:
    Jun 1, 2026
    Days on Market:
    6
    Last Refresh:
    Jun 6 at 3:01 am

    Property Features for 432 South Ewing Street

    General Information

    Standard status
    Active
    Size
    1,344 SF
    Lot size
    5.75 Acres
    Property subtype
    Industrial / Industrial

    Building Details

    Year Built
    1920

    We can help!

    Listing Contact
    Gary M Bartlett

    Listing agent Gary M Bartlett License #0700349755

    Listing office BARTLETT BENNER REALTY

    Listing date Jun 1, 2026

    Source Compass

    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 BARTLETT BENNER REALTY

    HighLights

    • 5.75‑acre multi‑building industrial site zoned Advanced Manufacturing with a 1,344 SF office building
    • Four pole buildings totaling approx. 16,112 SF: 3,200 SF, 3,520 SF, 3,840 SF, and 5,552 SF
    • Each pole building includes office space and restrooms, with drive‑through overhead doors
    • Three pole buildings include loading docks for loading and receiving operations
    • Month‑to‑month leases in place with long‑term tenants, providing immediate income with flexibility
    • Partial paving and ample excess land for additional industrial buildings, storage units, outdoor storage, or expansion

    Overview

    This 5.75-acre industrial property includes a 1,344 sq. ft. office building and four pole buildings totaling approximately 16,112 sq. ft., ranging from 3,200 sq. ft. to 5,552 sq. ft. Each building provides office space and restrooms, with drive-through overhead doors for truck or material flow. Three of the pole buildings also feature loading docks, supporting a variety of loading and distribution needs. The improvements were constructed between 1993 and 1998 and are described as well maintained, with partial paving throughout the site.

    The property is zoned Advanced Manufacturing and includes excess land that can support additional industrial buildings, storage units, outdoor storage, or future expansion. All buildings are currently leased on a month-to-month basis to long-term tenants.

    For tenants or owner-users, the mix of office support, drive-through overhead doors, and loading docks across multiple buildings can accommodate industrial, warehouse, and contractor uses with flexible space planning. For investors, the month-to-month structure provides current occupancy while allowing options to adjust layouts and future site use as tenant needs change.
    Location Intelligence

    Current Use by Public Records

    Ultimate Home Health ... Home Health Care Service

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

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

    Location Insight

    • Map
    • Local Demand
    City
    Lancaster
    County
    Fairfield
    State
    Ohio
    Longitude
    -82.5769031
    Latitude
    39.7101513

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    FAQs

    What type of property is this?
    Flex space - Multi-building industrial site with office space, drive-through doors, and loading docks across four pole buildings.
    Where is this flex space located?
    The property is located at 432 South Ewing Street Lancaster, OH.
    What is the asking price?
    The asking price for this property is $975,000.
    What are key features of this property?
    This property features: 5.75‑acre multi‑building industrial site zoned Advanced Manufacturing with a 1,344 SF office building; Four pole buildings totaling approx. 16,112 SF: 3,200 SF, 3,520 SF, 3,840 SF, and 5,552 SF; Each pole building includes office space and restrooms, with drive‑through overhead doors
    (740) 654-1500
    We can help!
    Listing Contact
    Gary M Bartlett
    Real Estate License ID: 0700349755
    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.

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