Four-Room Office
For Sale
Contact for pricing
624 E Main Street, Lancaster, OH 43130
A shared conference room complements four main-floor offices and a basement area.
Property Size1,000 SF
Price / SF$1.20
Days on Market77
Property Features for 624 E Main Street
General Information
Standard status
Active
Size
1,000 SF
Property subtype
Office
Additional Details
Floor
Main Floor
Property Use
Office
Amenities
shared conference room
Building Details
Year Built
1900
Listing Agency:
BARTLETT BENNER REALTY
(740) 654-1500
Listed By:
Nicholas Joseph Bartlett · License #2016002097
(614) 530-1885
Source:
Livewellhomegrp
Added: Aug 18
Changed: Nov 1
Last Checked: Nov 1 at 3:14AM
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 BARTLETT BENNER REALTY
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Investment Insights
Based on property information with market context.
This 1,000-square-foot office suite has four rooms on the main floor, with basement space that can serve as additional office or storage area. Occupants also have access to a shared conference room.
The property is at 624 E Main Street in downtown Lancaster, Ohio. The building dates to 1900.
The property is at 624 E Main Street in downtown Lancaster, Ohio. The building dates to 1900.
Key Highlights
- 1,000 square feet of office space
- Four separate office rooms on the main floor
- Basement area suitable for office use or storage
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$12,066
Suggested Prices Based on Cap Rates
Cap Rate 5%
$241,320
$241.3K
Cap Rate 7%
$172,371
$172.4K
Cap Rate 9%
$134,067
$134.1K
Market Conditions
NOI Build-Up for 1,000 SF
Gross rent
$21.5K $21.48/SF
− Vacancy
−$5.4K −$5.39/SF
EGI
$16.1K $16.09/SF
− OpEx
−$4.0K −$4.02/SF
NOI
$12.1K $12.07/SF
Area
Fairfield County, OH
Vacancy
25.10%
Lease Rate
$21.48 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$241,320
Cap Rate 7%
$172,371
Cap Rate 9%
$134,067
Alternative Uses
Best Use
Office B
$172.4K
$150.8K – $201.1K
NOI $12,066 @ 7.0% cap · market cap 1,005.50%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$201.6K
$176.4K – $235.2K
NOI $14,109 @ 7.0% cap · market cap 1,175.75%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
832
Businesses Nearby
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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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Market
Vacancy Rate% for Office in Midwest region
Frequently Asked Questions
What type of property is this?
Office unit - A shared conference room complements four main-floor offices and a basement area.
Where is this office unit located?
The property is located at 624 E Main Street Lancaster, OH.
What are key features of this property?
This property features: 1,000 square feet of office space; Four separate office rooms on the main floor; Basement area suitable for office use or storage
