Mixed-Use Property with Storage
For Sale
Contact for pricing
545 E Main St, Lancaster, OH 43130
Commercial offices, an upstairs apartment, and attached enclosed storage support multiple occupancy options.
Property Size192 SF
Price / SF$52.08
Days on Market52
Property Features for 545 E Main St
General Information
Standard status
Active
Size
192 SF
Property subtype
Multi-Unit (2-4)
Additional Details
Floor
Ground Floor
Asking Price
$275,000
Road Access
Yes
Warehouse Space
2,106 SF
Amenities
Lot Size Acres: 0.13
Asphalt Roof
Sewer Type: Municipal
Percentage of Tax that is Deductable: 0
Hardwood Floor, Laminate Floor, Tile Floor
Garage Type: Has
Gas Heat Fuel
Sale, Sale Type: Foreclosure, Sale Type: Auction, Online Only Auction, Auction URL: https://www.ohiorealestateauctions.com/property_details/545_e_main_st_lancaster_oh_43130_2820, Auction Start Time: 2026-08-05 21:00:00, Auction End Time: 2026-09-29 18:00:00
School District: Lancaster City
One Story, Built in 1900
Property Township: LANCASTER CORPORATION
Property Zone Type: 900, Above Area Square Feet: 192, Street View
2 Full Baths
Water Source: Municipal
Construction Type: Frame, Deck
Vinyl Siding
Building Details
Year Built
1900
Listing Agency:
Ohio Real Estate Auctions LLC
Listed By:
Christopher Cox · License #SL3538748
(937) 581-3037
Source:
Doyle-realty
Added: Aug 5
Changed: Sep 24
Last Checked: Sep 24 at 9:54AM
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 Ohio Real Estate Auctions LLC
Investment Insights
Based on property information with market context.
Built in 1900, this mixed-use property combines ground-floor commercial and office areas with an upstairs apartment that has previously been rented. Exterior features include an enclosed porch, open porch, and wood deck, adding usable space beyond the primary interior areas.
An attached four-sided metal building measures 27' x 78' and provides 2,106 square feet for storage, warehouse, shop, or equipment use. The property sits on E Main St in Lancaster, surrounded by established commercial neighbors. Banks, gas stations, grocery stores, restaurants, and law offices are described as within walking distance, placing everyday services close to the property.
An attached four-sided metal building measures 27' x 78' and provides 2,106 square feet for storage, warehouse, shop, or equipment use. The property sits on E Main St in Lancaster, surrounded by established commercial neighbors. Banks, gas stations, grocery stores, restaurants, and law offices are described as within walking distance, placing everyday services close to the property.
Key Highlights
- Attached four‑sided metal storage building measures 27' x 78'
- 2,106 sq ft of enclosed storage, warehouse, or shop space
- Ground‑floor commercial and office areas
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
$727
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%
$14,540
$14.5K
Cap Rate 7%
$10,386
$10.4K
Cap Rate 9%
$8,078
$8.1K
Market Conditions
NOI Build-Up for 192 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
$1.2K $6.36/SF
− Vacancy
−$103 −$0.54/SF
EGI
$1.1K $5.82/SF
− OpEx
−$391 −$2.04/SF
NOI
$727 $3.79/SF
Area
Fairfield County, OH
Vacancy
8.42%
Lease Rate
$6.36 /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%
$14,540
Cap Rate 7%
$10,386
Cap Rate 9%
$8,078
Alternative Uses
Best Use
Warehouse
$38.7K
$33.9K – $45.2K
NOI $2,709 @ 7.0% cap · market cap 27.09%
Second Best
Office B
$33.1K
$29.0K – $38.6K
NOI $2,317 @ 7.0% cap · market cap 23.17%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,048
Businesses Nearby
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Midwest region
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Commercial offices, an upstairs apartment, and attached enclosed storage support multiple occupancy options.
Where is this mixed-use property located?
The property is located at 545 E Main St Lancaster, OH.
What are key features of this property?
This property features: Attached four‑sided metal storage building measures 27' x 78'; 2,106 sq ft of enclosed storage, warehouse, or shop space; Ground‑floor commercial and office areas
