4-Bay Auto
For Sale
$300,000
5971 59 And 71 E Second St, Logan, OH 43138
Established automotive service property with multiple bays, lifts, and an additional lot.
Property Size2,300 SF
Price / SF$130.43
Days on Market42
Property Features for 5971 59 And 71 E Second St
General Information
Standard status
Active
Size
2,300 SF
Property subtype
Business Opportunity
Listing Agency:
Best Corporate Real Estate
(614) 559-3350
Listed By:
Randy J Best · License #311236
Source:
Dreamcolumbus
Added: Jul 21
Changed: Aug 31
Last Checked: Aug 31 at 12:31AM
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 Best Corporate Real Estate
Investment Insights
Based on property information with market context.
This automotive service property includes a building of approximately 2,300 square feet, four service bays, and three above-ground lifts. The offering includes the established auto service business together with the real estate and an additional lot. The operation has served the area for over 60 years.
The property is located at 5971 59 And 71 E Second St in Logan, Ohio, with service coverage extending across central and southern Ohio. The total land area is approximately ± 0.375 acres and includes parcels 040003580000 and 040003570000.
The property is located at 5971 59 And 71 E Second St in Logan, Ohio, with service coverage extending across central and southern Ohio. The total land area is approximately ± 0.375 acres and includes parcels 040003580000 and 040003570000.
Key Highlights
- 4‑bay automotive service center with real estate and established business
- Approximately 2,300 Sq Ft building
- 3 above‑ground lifts included
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
$26,723
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
8.91%
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%
$534,460
$534.5K
Cap Rate 7%
$381,757
$381.8K
Cap Rate 9%
$296,922
$296.9K
Market Conditions
NOI Build-Up for 2,300 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
$50.2K $21.84/SF
− Vacancy
−$12.1K −$5.24/SF
EGI
$38.2K $16.60/SF
− OpEx
−$11.5K −$4.98/SF
NOI
$26.7K $11.62/SF
Area
Hocking County, OH
Vacancy
24.00%
Lease Rate
$21.84 /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%
$534,460
Cap Rate 7%
$381,757
Cap Rate 9%
$296,922
Alternative Uses
Best Use
Industrial
$381.8K
$334.0K – $445.4K
NOI $26,723 @ 7.0% cap · market cap 8.91%
Second Best
Retail
$381.8K
$334.0K – $445.4K
NOI $26,723 @ 7.0% cap · market cap 8.91%
Theoretical Best
Warehouse
$463.6K
$405.6K – $540.8K
NOI $32,450 @ 7.0% cap · market cap 10.82%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
148
Businesses Nearby
4k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Sunoco
Shops & Services
4,405 visits/mo
0.1 miles
Demographics for 43138, OH
18,445
Population
8,457
Households
2.2
Avg Household Size
42
Median Age
14%
College-Educated
87%
High-School Grad
175.8 sq mi
ZIP Area
105
Density / Sq Mi
$65,028
Median Household Income
$37,920
Median Earnings
$766
Median Rent
$169,100
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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Similar Off Market Nearby
- Marty's Wrecker Services — 1481 E Front St, Logan, OH 43138
- TANSKY SERVICE CENTER — 71 E 2nd St, Logan, OH 43138
- Firestone — 92 E Front St, Logan, OH 43138
- C&C auto and truck repair — 65 S Orchard St, Logan, OH 43138
- Toyota of Logan Service — 297 E Main St, Logan, OH 43138
Frequently Asked Questions
What type of property is this?
Auto shop - Established automotive service property with multiple bays, lifts, and an additional lot.
Where is this auto shop located?
The property is located at 5971 59 And 71 E Second St Logan, OH.
What is the asking price?
The asking price for this property is $300,000.
What are key features of this property?
This property features: 4‑bay automotive service center with real estate and established business; Approximately 2,300 Sq Ft building; 3 above‑ground lifts included
