Flex Property with Outdoor
For Sale
$419,000
771 State Route 307 E, Jefferson, OH 44047
A freestanding office-and-shop building sits on a gated parcel with space for vehicle, trailer, and equipment storage.
Property Size1,200 SF
Lot Size4.00 Acres
Price / SF$349.17
Days on Market54
Property Features for 771 State Route 307 E
General Information
Standard status
Active
Size
1,200 SF
Lot size
4.00 Acres
Property subtype
Commercial
Site & Location
Road Access
Yes
Fenced Yard
Yes
Outdoor Storage
Yes
Tenancy & Operations
Tenant in Place
Yes
Real Estate Included
Yes
Additional Details
Clear Height
12 ft
Property Use
Flex
Taxes and HOA fees
Annual Taxes
$1,373
Amenities
finished reception area
private office
restroom
spacious shop/service area
12' ceilings
10' high overhead door
concrete floor
natural gas hanging unit heater
covered outdoor storage structure
Building Details
Building Size
1,200 SF
Year Built
1960
Buildings
1
Listing Agency:
Life Stages Realty LLC
Listed By:
Nicolette Kuebeler · License #2022002552
(330) 322-3637
Source:
Lifestagesrealty
Added: Sep 4
Changed: Oct 26
Last Checked: Oct 26 at 2:12PM
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 Life Stages Realty LLC
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Investment Insights
Based on property information with market context.
The freestanding 1,200-square-foot building, constructed in 1960, combines a finished reception area, private office, restroom, and shop/service space. The shop has approximately 12-foot ceilings, a 10-foot overhead door, concrete flooring, and a natural gas hanging unit heater. A covered outdoor storage structure and gravel yard complement the building, which is currently used for trailer sales and storage. A month-to-month tenant would like to remain; the property may also suit an owner-user seeking indoor and outdoor workspace.
The site contains approximately 3.997 acres, with about 637 feet of frontage on State Route 307 and 572 feet on Sycamore Street. It is served by well water and connected to public sewer; city water is available but not connected. Verify zoning and intended use.
The site contains approximately 3.997 acres, with about 637 feet of frontage on State Route 307 and 572 feet on Sycamore Street. It is served by well water and connected to public sewer; city water is available but not connected. Verify zoning and intended use.
Key Highlights
- Approximately 3.997 acres with about 1,209 feet of combined frontage
- Freestanding 1,200 SF building with reception, private office, restroom, and shop/service area
- Shop has approximately 12' ceilings, a 10' overhead door, concrete floor, and natural gas hanging unit heater
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$14,727
Cap Rate
3.51%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$294,540
$294.5K
Cap Rate 7%
$210,386
$210.4K
Cap Rate 9%
$163,633
$163.6K
Market Conditions
NOI Build-Up for 1,200 SF
Gross rent
$21.6K $18.00/SF
− Vacancy
−$562 −$0.47/SF
EGI
$21.0K $17.53/SF
− OpEx
−$6.3K −$5.26/SF
NOI
$14.7K $12.27/SF
Area
Ashtabula County, OH
Vacancy
2.60%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$294,540
Cap Rate 7%
$210,386
Cap Rate 9%
$163,633
Alternative Uses
Best Use
Retail
$210.4K
$184.1K – $245.5K
NOI $14,727 @ 7.0% cap · market cap 3.51%
Second Best
Flex RnD
$97.7K
$85.5K – $114.0K
NOI $6,837 @ 7.0% cap · market cap 1.63%
Theoretical Best
Office A
$223.6K
$195.7K – $260.9K
NOI $15,653 @ 7.0% cap · market cap 3.74%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
12 ft
Clear height
Yes
Fenced yard
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
122
Businesses Nearby
Balanced
Demand for This Use
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Business Placement
Demographics for 44047, OH
9,156
Population
4,075
Households
2.2
Avg Household Size
45
Median Age
18%
College-Educated
90%
High-School Grad
107.0 sq mi
ZIP Area
86
Density / Sq Mi
$59,720
Median Household Income
$39,850
Median Earnings
$985
Median Rent
$182,500
Median Home Value
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Market
Vacancy Rate% for Industrial in Midwest region
Frequently Asked Questions
What type of property is this?
Flex space - A freestanding office-and-shop building sits on a gated parcel with space for vehicle, trailer, and equipment storage.
Where is this flex space located?
The property is located at 771 State Route 307 E Jefferson, OH.
What is the asking price?
The asking price for this property is $419,000.
What are key features of this property?
This property features: Approximately 3.997 acres with about 1,209 feet of combined frontage; Freestanding 1,200 SF building with reception, private office, restroom, and shop/service area; Shop has approximately 12' ceilings, a 10' overhead door, concrete floor, and natural gas hanging unit heater
