Multi-Building Industrial
For Sale
$1,200,000
6470 Township Road 310, Millersburg, OH 44654
COMMERCIAL - Millersburg, OH
Property Size12,000 SF
Lot Size3.14 Acres
Price / SF$100
Days on Market95
Property Features for 6470 Township Road 310
General Information
Property type
Commercial Sale
Property subtype
Other
Parking features
Driveway, Garage
Elementary school district
East Holmes LSD - 3801
Middle school district
East Holmes LSD - 3801
High school district
East Holmes LSD - 3801
Directions
From SR 39 by Holmes Lumber head south on TR351 turn right on TR310 and property will be on left hand side. Signs posted.
Standard status
Active
APN
01-00010.016
Lot size
3.14 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
R6 T9 S18 3.138ACB-02
Tax Annual Amount
2921
Legal Description
R6 T9 S18 3.138ACB-02
Utilities
Sewer type
Septic Tank
Heating system
Natural Gas
Water source
Well
Building Details
Year built
2000
Roof type
Metal
Listing Agency:
Kaufman Realty & Auction, LLC.
(330) 602-4111
Listed By:
James J Mast · License #2023000439
(330) 466-2594
Added: May 7
Changed: Aug 4
Last Checked: Aug 9 at 2:06PM
MLS# 5208432
Copyright © 2026 MLS Now. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Located at 6470 Township Road 310 in Millersburg, Ohio (Holmes County), this for-sale multi-building industrial property includes three separate structures totaling more than 12,000 square feet of flexible workspace. Building #1 is 60' x 80' and includes a dedicated engine room, natural gas utilities, and an attached two-story 16' x 24' office and lunchroom area.
Building #2 measures 152' x 32' and features an 8-foot canopy, in-floor heating, and an inverter system. The building also provides seven 12' x 16' overhead garage doors for equipment storage, vehicle access, or workshop use. Building #3 offers an additional 24' x 60' of space with an 8-foot overhang for covered storage.
The property is situated on 3.138 acres and is presented as a versatile option for industrial, manufacturing, or storage operations based on the existing building configuration and on-site utility and mechanical infrastructure.
Building #2 measures 152' x 32' and features an 8-foot canopy, in-floor heating, and an inverter system. The building also provides seven 12' x 16' overhead garage doors for equipment storage, vehicle access, or workshop use. Building #3 offers an additional 24' x 60' of space with an 8-foot overhang for covered storage.
The property is situated on 3.138 acres and is presented as a versatile option for industrial, manufacturing, or storage operations based on the existing building configuration and on-site utility and mechanical infrastructure.
Key Highlights
- 3.138‑acre commercial property with 12,000+ SF of versatile building space for industrial, manufacturing, or storage use
- Building #1: 60' x 80' with a dedicated engine room, plus attached 16' x 24' two‑story office and lunchroom area
- Building #2: 152' x 32' with 8‑foot canopy, in‑floor heating, inverter system, and seven 12' x 16' overhead garage doors
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
$85,466
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
7.12%
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%
$1,709,320
$1.7M
Cap Rate 7%
$1,220,943
$1.2M
Cap Rate 9%
$949,622
$949.6K
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
$108.0K $9.00/SF
− Vacancy
−$7.5K −$0.62/SF
EGI
$100.5K $8.38/SF
− OpEx
−$15.1K −$1.26/SF
NOI
$85.5K $7.12/SF
Area
Holmes County, OH
Vacancy
6.90%
Lease Rate
$9.00 /SF/Yr
Expense Ratio
15.00%
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%
$1,709,320
Cap Rate 7%
$1,220,943
Cap Rate 9%
$949,622
Alternative Uses
Best Use
Flex RnD
$1.64M
$1.43M – $1.91M
NOI $114,529 @ 7.0% cap · market cap 9.54%
Second Best
Warehouse
$1.22M
$1.07M – $1.42M
NOI $85,466 @ 7.0% cap · market cap 7.12%
Theoretical Best
Multifamily LT 5
$151.53M
$132.59M – $176.79M
NOI $10,607,205 @ 7.0% cap · market cap 883.93%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
7
Drive-in doors
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
10
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 44654, OH
20,612
Population
6,848
Households
3
Avg Household Size
32
Median Age
15%
College-Educated
60%
High-School Grad
160.2 sq mi
ZIP Area
129
Density / Sq Mi
$75,195
Median Household Income
$41,572
Median Earnings
$770
Median Rent
$288,000
Median Home Value
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Three industrial buildings offer overhead garage doors, office space, and covered storage on a multi-acre site.
Where is this flex space located?
The property is located at 6470 Township Road 310 Millersburg, OH.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: 3.138‑acre commercial property with 12,000+ SF of versatile building space for industrial, manufacturing, or storage use; Building #1: 60' x 80' with a dedicated engine room, plus attached 16' x 24' two‑story office and lunchroom area; Building #2: 152' x 32' with 8‑foot canopy, in‑floor heating, inverter system, and seven 12' x 16' overhead garage doors
