485 Selma Rd, Springfield, OH 45505

Building Details

Year Built 1920 More

Buildings 1 More

Listing Agency: Lagonda Creek Real Estate, LLC

Listed By: Charlene Roberge · License #2006004954 Show Phone

Source: Thelorilynngroup

Added: Sep 21 Changed: Oct 26 Last Checked: Nov 6 at 1:47PM

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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 Lagonda Creek Real Estate, LLC

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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.

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 / Yr

$4,356

Cap Rate

7.27%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$87,120 $87.1K

Cap Rate 7%

$62,229 $62.2K

Cap Rate 9%

$48,400 $48.4K

Is this asking price fair?

Market Conditions

NOI Build-Up for 1,060 SF

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 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 (±1% cap)

NOI $4,356 @ 7.0% cap · market cap 7.27%

Second Best

Retail

$59.3K

$51.9K – $69.2K (±1% cap)

NOI $4,150 @ 7.0% cap · market cap 6.93%

Theoretical Best

Specialty Retail

$295.7K

$258.7K – $345.0K (±1% cap)

NOI $20,697 @ 7.0% cap · market cap 34.55%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Auto shops

Suggested Use

Top Pick Dental Office Spa & Massage Center Hair Salon Nail Salon Pharmacy Skin Care Clinic

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

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

Market

Vacancy Rate% for Retail in Midwest region

8% 2020

7.3% 2021

6.5% 2022

6% 2023

5.7% 2024

6.3% 2025

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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