Auto Shop with
New
For Sale
$59,900
485 Selma Rd, Springfield, OH 45505
Existing automotive improvements include a covered work area, enclosed entrance, and vehicle lift.
Property Size1,060 SF
Lot Size0.51 Acres
Price / SF$56.51
Days on Market3
Property Features for 485 Selma Rd
General Information
Standard status
Active
Size
1,060 SF
Lot size
0.51 Acres
Zoning
C-HC
Amenities
canopy
enclosed entry
Building Details
Year Built
1920
Buildings
1
Listing Agency:
Lagonda Creek Real Estate, LLC
Listed By:
Charlene Roberge · License #2006004954
(937) 342-9995
Source:
Thelorilynngroup
Added: Sep 21
Last Checked: Sep 22 at 6:49PM
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 Lagonda Creek Real Estate, LLC
Investment Insights
Based on property information with market context.
This automotive property includes a 1,060-square-foot building with a canopy, enclosed entry, and lift. The improvements are currently used for auto parts, repair, and towing operations. Constructed in 1920, the building sits on two parcels totaling 0.51 acres.
The property is located at 485 Selma Rd in Springfield, Ohio, and carries Heavy Commercial Corridor (C-HC) District zoning. Both parcels are included in the sale, with parcel identifiers 3400700034407057 and 3400700034407058.
The property is located at 485 Selma Rd in Springfield, Ohio, and carries Heavy Commercial Corridor (C-HC) District zoning. Both parcels are included in the sale, with parcel identifiers 3400700034407057 and 3400700034407058.
Key Highlights
- 1,060‑square‑foot automotive building
- Two parcels totaling 0.51 acres
- Canopy, enclosed entry, and vehicle lift
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
$4,356
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
7.27%
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%
$87,120
$87.1K
Cap Rate 7%
$62,229
$62.2K
Cap Rate 9%
$48,400
$48.4K
Market Conditions
NOI Build-Up for 1,060 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
$6.8K $6.41/SF
− Vacancy
−$572 −$0.54/SF
EGI
$6.2K $5.87/SF
− OpEx
−$1.9K −$1.76/SF
NOI
$4.4K $4.11/SF
Area
Clark County, OH
Vacancy
8.42%
Lease Rate
$6.41 /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%
$87,120
Cap Rate 7%
$62,229
Cap Rate 9%
$48,400
Alternative Uses
Best Use
Industrial
$62.2K
$54.5K – $72.6K
NOI $4,356 @ 7.0% cap · market cap 7.27%
Second Best
Retail
$59.3K
$51.9K – $69.2K
NOI $4,150 @ 7.0% cap · market cap 6.93%
Theoretical Best
Specialty Retail
$295.7K
$258.7K – $345.0K
NOI $20,697 @ 7.0% cap · market cap 34.55%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
382
Businesses Nearby
11k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Sunoco
Shops & Services
4,956 visits/mo
0.1 miles
Family Dollar
Shops & Services
3,441 visits/mo
0.2 miles
Sunoco
Shops & Services
2,210 visits/mo
0.4 miles
Demographics for 45505, OH
19,708
Population
9,365
Households
2.1
Avg Household Size
38
Median Age
10%
College-Educated
84%
High-School Grad
13.6 sq mi
ZIP Area
1,449
Density / Sq Mi
$42,409
Median Household Income
$30,322
Median Earnings
$802
Median Rent
$87,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Sexton's Shop — 1602 Selma Rd, Springfield, OH 45505
- Pablos Tires Springfield — 1602 Selma Rd, Springfield, OH 45505
- Im that guy — 1429 nagley st, springfield, oh 45505
- Glass Shop Of Ohio — 830 Selma Rd, Springfield, OH 45505
- Ohio Spring & Wheel Services — 480 Selma Rd, Springfield, OH 45505
Frequently Asked Questions
What type of property is this?
Auto shop - Existing automotive improvements include a covered work area, enclosed entrance, and vehicle lift.
Where is this auto shop located?
The property is located at 485 Selma Rd Springfield, OH.
What is the asking price?
The asking price for this property is $59,900.
What are key features of this property?
This property features: 1,060‑square‑foot automotive building; Two parcels totaling 0.51 acres; Canopy, enclosed entry, and vehicle lift
