Building Details

Building Size 12,000 SF

Year Built 2018

Listing Agency: Fell Realty, LLC c***@fellrealty.com Show Phone

Listed By: Caleb M Fell Show Phone

Source: Evrealestate

Added: Jul 2 Changed: Aug 8 Last Checked: Jul 24 at 7:24AM

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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 Fell Realty, LLC

Investment Insights

Based on property information with market context.

This for-sale property is described as flex space with industrial and manufacturing classification, offering a combined-use setup suitable for businesses that need flexibility between work space and operational space. The listing also places it within commercial real estate, indicating an adaptable platform for a range of light industrial and manufacturing-oriented uses.

Access is provided via State Route 39 NW to Belden Parkway, with the property located on the left. The asset is in Tuscarawas County, OH.

From a tenant or buyer perspective, the classification supports a practical fit for operators looking for a facility that can accommodate manufacturing-related activities and flex-style utilization, rather than a single-purpose configuration. While specific building features, office buildout, and utility details are not provided in the information available, the flex and industrial/manufacturing positioning can still be valuable for users seeking a property type designed to support on-site production or operations alongside adaptable space needs.

Key Highlights

• Year built: 2018
• Central air cooling and forced‑air natural gas heating
• On‑site parking available with gravel parking

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

$73,027

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

4.17%

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%

$1,460,540 $1.5M

Cap Rate 7%

$1,043,243 $1.0M

Cap Rate 9%

$811,411 $811.4K

Market Conditions

NOI Build-Up for 12,000 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

$119.5K $9.96/SF

− Vacancy

−$7.2K −$0.60/SF

EGI

$112.3K $9.36/SF

− OpEx

−$39.3K −$3.28/SF

NOI

$73.0K $6.09/SF

Area

Tuscarawas County, OH

Vacancy

6.00%

Lease Rate

$9.96 /SF/Yr

Expense Ratio

35.00%

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%

$1,460,540

Cap Rate 7%

$1,043,243

Cap Rate 9%

$811,411

Alternative Uses

Best Use

Flex RnD

$1.04M

$912.8K – $1.22M (±1% cap)

NOI $73,027 @ 7.0% cap · market cap 4.17%

Second Best

Industrial

$562.5K

$492.2K – $656.2K (±1% cap)

NOI $39,372 @ 7.0% cap · market cap 2.25%

Theoretical Best

Office A

$2.24M

$1.96M – $2.61M (±1% cap)

NOI $156,534 @ 7.0% cap · market cap 8.94%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Property Profile

Current Use

Flex space

Suggested Use

Top Pick Parking Lot & Garage HVAC Service Electrical Service Auto Parts Store (Bike/Boat/Book/etc) Store Dental Office

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

76

Businesses Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Demographics for 44681, OH

8,053

Population

2,987

Households

2.7

Avg Household Size

32

Median Age

12%

College-Educated

53%

High-School Grad

56.4 sq mi

ZIP Area

143

Density / Sq Mi

$83,250

Median Household Income

$40,926

Median Earnings

$817

Median Rent

$304,700

Median Home Value

Market

Vacancy Rate% for Industrial in Midwest region

4.4% 2019

4.9% 2020

3.6% 2021

3.1% 2022

4.6% 2023

5% 2024

4.9% 2025

Questions? Ask Rey

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What type of property is this? Where is this flex space located? What is the asking price? Find similar properties ... What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Flex space - For-sale flex/industrial asset positioned along Belden Parkway in Tuscarawas County.

Where is this flex space located?

The property is located at 540 Belden Parkway NE Sugarcreek, OH.

What is the asking price?

The asking price for this property is $1,750,000.

What are key features of this property?

This property features: Year built: 2018; Central air cooling and forced‑air natural gas heating; On‑site parking available with gravel parking