Flex Space with USDA-Approved Food
New
For Sale
$1,500,000
501 S High Street, Lancaster, OH 43130
COMMERCIAL - Lancaster, OH
Property Size11,975 SF
Lot Size0.17 Acres
Price / SF$125.26
Days on Market4
Property Features for 501 S High Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
CBD
Standard status
Active
APN
05-35067-800
Size
11,975 SF
Lot size
0.17 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
7702
Utilities
Utilities
Water Available
Heating system
Forced Air
Building Details
Year built
2003
Floors in Building
2
Listing Agency:
e-Merge Real Estate Unlimited
(614) 678-5505
Listed By:
Thomas M Buoni · License #2016002482
(480) 316-1652
Added: Jul 28
Changed: Jul 31
Last Checked: Jul 31 at 6:06PM
MLS# 226028351
Copyright © 2026 Columbus and Central Ohio Multiple Listing Service. 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 space is set up as a combined office, shipping, and production center, totaling 22,275 square feet. The main building includes a small frozen production facility with USDA-approved food production space and dedicated areas for office use, frozen or refrigerated storage, and dedicated shipping and receiving. A commercial kitchen, freezer, and refrigeration equipment are included in the sale.
United Parcel Service (UPS) operates as a tenant with approximately 8,000 square feet of shipping and receiving space on the south side of the building, and the UPS lease runs until 2024. The property also provides substantial parking on the north and west sides. Built in 2003, the facility is served by forced air heating and water available.
Access to the Rt 33 corridor serving Southeastern Ohio is less than 1.2 miles away, supporting connectivity for day-to-day distribution and operations. The property is located within walking distance of the downtown historic district.
United Parcel Service (UPS) operates as a tenant with approximately 8,000 square feet of shipping and receiving space on the south side of the building, and the UPS lease runs until 2024. The property also provides substantial parking on the north and west sides. Built in 2003, the facility is served by forced air heating and water available.
Access to the Rt 33 corridor serving Southeastern Ohio is less than 1.2 miles away, supporting connectivity for day-to-day distribution and operations. The property is located within walking distance of the downtown historic district.
Key Highlights
- 22,275 SF flex space with main building frozen production facility totaling 14,000 SF
- UPS tenant with approx. 8,000 SF shipping and receiving space on the south side
- USDA‑approved food production space with frozen/refrigerated storage
Financial Insights For Flex RnD
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $76.2k | $6.36 |
| − Vacancy | −$6.4k | −$0.54 |
| EGI | $69.7k | $5.82 |
| − OpEx | −$24.4k | −$2.04 |
| NOI | $45.3k | $3.79 |
11,975 SF · lease $6.36/SF/yr · vacancy 8.42% · expense 35.00%
Alternative Uses
Best Use
Warehouse
$2.41M
$2.11M – $2.82M
NOI $168,951 @ 7.0% cap · market cap 11.26%
Second Best
Industrial
$1.99M
$1.74M – $2.32M
NOI $139,136 @ 7.0% cap · market cap 9.28%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,101
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 43130, OH
62,010
Population
26,434
Households
2.3
Avg Household Size
41
Median Age
23%
College-Educated
92%
High-School Grad
164.5 sq mi
ZIP Area
377
Density / Sq Mi
$68,242
Median Household Income
$43,936
Median Earnings
$1,031
Median Rent
$215,900
Median Home Value
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Flex space designed for shipping, production, and office use with frozen and refrigerated storage for USDA-approved food work.
Where is this flex space located?
The property is located at 501 S High Street Lancaster, OH.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: 22,275 SF flex space with main building frozen production facility totaling 14,000 SF; UPS tenant with approx. 8,000 SF shipping and receiving space on the south side; USDA‑approved food production space with frozen/refrigerated storage
