Converted Office Building with No-Step
For Sale
$199,900
717 Main Street, Bellefontaine, OH 43311
Converted from a residence, this office building features a stamped concrete front porch and rear no-step entry.
Property Size1,384 SF
Price / SF$144.44
Days on Market112
Property Features for 717 Main Street
General Information
Standard status
Active
Size
1,384 SF
Property subtype
General Commercial
Taxes and HOA fees
Annual Taxes
$850
Amenities
Central Air
3
Parking.
6 Parking Spaces. Lot, On Site, Private.
47 X 114
Building Details
Year Built
1900
Listing Agency:
Zimmerman Realty Ltd.
(937) 592-4896
Listed By:
Kyle Springs · License #2005015645
(937) 592-4896
Source:
Xome
Added: Apr 20
Changed: Aug 7
Last Checked: Aug 8 at 3:34AM
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 Zimmerman Realty Ltd.
Investment Insights
Based on property information with market context.
This converted office building was originally a residence and has also previously been used as a boutique clothing shop. The property has been set up to accommodate professional office use, with a stamped concrete front porch and a rear entry that provides no-step access to the main floor for clients and visitors.
Located at 717 S Main Street in Bellefontaine, Ohio, the building offers a distinctive configuration for an owner-operator or tenant seeking a smaller, street-facing office environment.
Located at 717 S Main Street in Bellefontaine, Ohio, the building offers a distinctive configuration for an owner-operator or tenant seeking a smaller, street-facing office environment.
Key Highlights
- Converted from a residence to professional office space
- Stamped concrete front porch
- Rear entry offers no‑step access to the main floor
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
$17,007
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
8.51%
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%
$340,140
$340.1K
Cap Rate 7%
$242,957
$243.0K
Cap Rate 9%
$188,967
$189.0K
Market Conditions
NOI Build-Up for 1,384 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
$29.8K $21.53/SF
− Vacancy
−$7.1K −$5.15/SF
EGI
$22.7K $16.38/SF
− OpEx
−$5.7K −$4.10/SF
NOI
$17.0K $12.29/SF
Area
Logan County, OH
Vacancy
23.90%
Lease Rate
$21.53 /SF/Yr
Expense Ratio
25.00%
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%
$340,140
Cap Rate 7%
$242,957
Cap Rate 9%
$188,967
Alternative Uses
Best Use
Office B
$243.0K
$212.6K – $283.5K
NOI $17,007 @ 7.0% cap · market cap 8.51%
Second Best
Healthcare Medical
$196.1K
$171.6K – $228.8K
NOI $13,726 @ 7.0% cap · market cap 6.87%
Theoretical Best
Office A
$279.4K
$244.5K – $325.9K
NOI $19,556 @ 7.0% cap · market cap 9.78%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
291
Businesses Nearby
Explore this area
Business Placement
Demographics for 43311, OH
20,029
Population
9,497
Households
2.1
Avg Household Size
40
Median Age
17%
College-Educated
93%
High-School Grad
103.8 sq mi
ZIP Area
193
Density / Sq Mi
$64,217
Median Household Income
$40,341
Median Earnings
$833
Median Rent
$183,000
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Converted from a residence, this office building features a stamped concrete front porch and rear no-step entry.
Where is this office building located?
The property is located at 717 Main Street Bellefontaine, OH.
What is the asking price?
The asking price for this property is $199,900.
What are key features of this property?
This property features: Converted from a residence to professional office space; Stamped concrete front porch; Rear entry offers no‑step access to the main floor
