Building Details

Building Size 2,374 SF

Year Built 1960

Buildings 1

Stories 2

Construction wood frame/block

Listing Agency: Century 21 Frank Frye

Listed By: Cynthia Layton · License #2016005667 Show Phone

Source: Camtaylor

Added: Oct 3 Changed: Oct 6 Last Checked: Oct 5 at 8:29PM

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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.

This 2,374-square-foot office building, constructed in 1960, has two levels with several office areas, a reception space, work areas, kitchenette, storage, and restrooms. The upper floor includes a full bathroom, washer and dryer connections, storage, and an open area. Basement space offers additional room for office or break use, alongside utility space and an outdoor seating area. A concrete parking area serves the property.

Building systems include two AC units, two attic furnaces, and separate gas and electric meters. Improvements include a roof replacement in 2024, central air in 2024, new carpet and flooring in 2020, a sump pump installed in 2020, exterior repainting, and a hot water tank dated 2026. The property is near I-70, Rt 40, and Rt 79 in Buckeye Lake.

Key Highlights

• 2,374 square feet across two stories; built in 1960
• Multiple office areas, reception space, kitchenette, storage, and restrooms
• Upper floor includes a full bathroom and washer/dryer hookups

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$29,229

Cap Rate

4.98%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$584,580 $584.6K

Cap Rate 7%

$417,557 $417.6K

Cap Rate 9%

$324,767 $324.8K

Market Conditions

NOI Build-Up for 2,374 SF

Gross rent

$51.3K $21.60/SF

− Vacancy

−$12.3K −$5.18/SF

EGI

$39.0K $16.42/SF

− OpEx

−$9.7K −$4.10/SF

NOI

$29.2K $12.31/SF

Area

Licking County, OH

Vacancy

24.00%

Lease Rate

$21.60 /SF/Yr

Expense Ratio

25.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$584,580

Cap Rate 7%

$417,557

Cap Rate 9%

$324,767

Alternative Uses

Best Use

Office B

$417.6K

$365.4K – $487.2K (±1% cap)

NOI $29,229 @ 7.0% cap · market cap 4.98%

Second Best

—

—

no second resolved use

Theoretical Best

Flex RnD

$1.91M

$1.67M – $2.22M (±1% cap)

NOI $133,463 @ 7.0% cap · market cap 22.74%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Open Analytics

Current Use

Blue Star Transport Trucking Company Office Moving Alliance Moving Company

Suggested Use

Top Pick Auto Repair Shop Big Box & Wholesale Store Building Supply Storage Facility Cafe & Coffee Shop Law Firm

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Yes

Highway access

Yes

Utilities to site

Location Intelligence

Trade Area within ½ mile

92

Businesses Nearby

Explore this area Business Placement

Demographics for 43008, OH

2,378

Population

1,331

Households

1.8

Avg Household Size

46

Median Age

13%

College-Educated

82%

High-School Grad

1.5 sq mi

ZIP Area

1,585

Density / Sq Mi

$82,750

Median Household Income

$50,179

Median Earnings

$920

Median Rent

$157,100

Median Home Value

Market

Vacancy Rate% for Office in Midwest region

13.7% 2019

15.6% 2020

17.1% 2021

18.9% 2022

21% 2023

22% 2024

21.3% 2025

Questions? Ask Rey

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What type of property is this? Where is this office buildings located? What is the asking price? Find similar properties What are key features of this property?

Frequently Asked Questions

What type of property is this?

Office building - Multiple office areas, a reception zone, kitchenette, and flexible upper- and lower-level spaces support varied work functions.

Where is this office building located?

The property is located at 4459 Walnut Road SE Buckeye Lake, OH.

What is the asking price?

The asking price for this property is $587,000.

What are key features of this property?

This property features: 2,374 square feet across two stories; built in 1960; Multiple office areas, reception space, kitchenette, storage, and restrooms; Upper floor includes a full bathroom and washer/dryer hookups