Office Building with No-Step Rear
For Sale
$199,900
717 S Main Street, Bellefontaine, OH 43311
Commercial Sale, Bellefontaine, OH
Property Size1,384 SF
Lot Size0.14 Acres
Price / SF$144.44
Days on Market123
Property Features for 717 S Main Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
Business, Residential
Parking
6
Parking features
Parking Lot
Patio and Porch features
Porch
Basement
Unfinished
Directions
Main Street (US 68) to address
Subdivision
901 Bellefontaine
Standard status
Active
APN
170912007003000
Size
1,384 SF
Lot size
0.14 Acres
Taxes and HOA fees
Tax Year
2025
Utilities
Sewer type
Public Sewer
Heating system
Forced Air, Natural Gas
Cooling system
Central Air
Building Details
Year built
1900
Building materials
Vinyl Siding
Listing Agency:
Zimmerman Realty Ltd.
(937) 592-4896
Listed By:
Kyle Springs · License #2005015645
(937) 592-4896
Added: Apr 21
Changed: Aug 19
Last Checked: Aug 21 at 6:06PM
MLS# 1045142
Copyright © 2026 Western Regional Information System & Technology, Inc. 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.
This office building offers a flexible layout with existing professional office use. The home was converted from a former residence and includes a stamped concrete front porch and no-step rear entry that provides convenient access to the main floor.
The property is heated with natural gas forced air and cooled with central air. Exterior construction is vinyl siding. Parking is provided via a parking lot, and services include public sewer.
Built in 1900, the building is positioned for a range of office-oriented uses where a small-footprint facility and straightforward client access are important. With the right interior updates, it can also support alternative concepts consistent with the building’s current configuration and access features.
The property is heated with natural gas forced air and cooled with central air. Exterior construction is vinyl siding. Parking is provided via a parking lot, and services include public sewer.
Built in 1900, the building is positioned for a range of office-oriented uses where a small-footprint facility and straightforward client access are important. With the right interior updates, it can also support alternative concepts consistent with the building’s current configuration and access features.
Key Highlights
- No‑step rear entry provides main‑floor access
- Stamped concrete front porch
- Natural gas forced air heating
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
—
—
no second resolved use
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
Property Profile
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 units - Professional office space with central air, natural gas forced air heat, and no-step rear access plus a front porch.
Where is this office units located?
The property is located at 717 S 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: No‑step rear entry provides main‑floor access; Stamped concrete front porch; Natural gas forced air heating
