Listing Agency: Howard Hanna Real Estate Services h***@howardhanna.com Show Phone

Listed By: Tricia Cash · License #2012002206 Show Phone

Source: Exprealty

Added: Jun 17 Changed: Sep 6 Last Checked: Sep 7 at 11:18AM

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Investment Insights

Based on property information with market context.

This flex-style property sits on 2+ acres and includes a 56x80 shop plus a 16x40 garage. The shop is set up with an office, full bathroom, and loft storage, and it also includes three new garage door openers along with multiple overhead doors, a pit, and utility/operations equipment such as a Frontier Fiber optic with a $3,000 booster, an AC Recycling Machine, and a Port A Cool directional cooler.

An oversized, two-bay garage includes a Rol-Air Compressor with a new $900 motor and a $1,200 compressor. The parking lot provides substantial open space and is wired for block heaters, supporting flexibility for staging and parking needs.

The property is near downtown Sugarcreek and is just outside corporate limits, and it can be used for a variety of purposes as described in the remarks.

Key Highlights

• 2+ acre commercial or mixed‑use flex property near downtown Sugarcreek, just outside corp limits
• Includes a 56x80 shop with office, full bathroom, loft storage, and multiple garage doors (1‑16' and 3‑14')
• Shop includes 3 new garage door openers, a pit, and Frontier Fiber optic with a $3,000 booster

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

$31,158

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

4.62%

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%

$623,160 $623.2K

Cap Rate 7%

$445,114 $445.1K

Cap Rate 9%

$346,200 $346.2K

Market Conditions

NOI Build-Up for 5,120 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

$51.0K $9.96/SF

− Vacancy

−$3.1K −$0.60/SF

EGI

$47.9K $9.36/SF

− OpEx

−$16.8K −$3.28/SF

NOI

$31.2K $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%

$623,160

Cap Rate 7%

$445,114

Cap Rate 9%

$346,200

Alternative Uses

Best Use

Flex RnD

$445.1K

$389.5K – $519.3K (±1% cap)

NOI $31,158 @ 7.0% cap · market cap 4.62%

Second Best

Industrial

$240.0K

$210.0K – $280.0K (±1% cap)

NOI $16,799 @ 7.0% cap · market cap 2.49%

Theoretical Best

Office A

$954.1K

$834.9K – $1.11M (±1% cap)

NOI $66,788 @ 7.0% cap · market cap 9.89%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Property Profile

Current Use

Miller Tractor Service Factory Pleasant Valley Trucking ... Trucking Company

Suggested Use

Top Pick Auto Repair Shop Auto Parts Store Plumbing Service Pet Store & Service Kitchen & Bath Showroom Bed & Breakfast

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

Lease Details

6

Drive-in doors

Location Intelligence

Trade Area within ½ mile

5

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

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

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?

Frequently Asked Questions

What type of property is this?

Flex space - Flex property with a 56x80 shop and separate 16x40 garage, plus a sizable, wired parking lot.

Where is this flex space located?

The property is located at 622 Pleasant Valley Rd Nw Sugarcreek, OH.

What is the asking price?

The asking price for this property is $675,000.

What are key features of this property?

This property features: 2+ acre commercial or mixed‑use flex property near downtown Sugarcreek, just outside corp limits; Includes a 56x80 shop with office, full bathroom, loft storage, and multiple garage doors (1‑16' and 3‑14'); Shop includes 3 new garage door openers, a pit, and Frontier Fiber optic with a $3,000 booster