Building Details

Building Size 20,808 SF

Year Built 2019

Listing Agency: Life Stages Realty LLC

Listed By: Nicolette Kuebeler · License #2022002552 Show Phone

Source: Lifestagesrealty

Added: May 12 Changed: Oct 27 Last Checked: Oct 27 at 3:52AM

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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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Review the available facts, identify missing information and prepare questions for the agent.

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Investment Insights

Based on property information with market context.

This flex property on 5.049 acres includes 16,800 square feet across two steel, free-span buildings and a 4,008-square-foot showroom. The 80' x 120' building dates to 2019 and the 80' x 90' building to 2024; both have 18' sidewalls, heating and cooling, and 6-inch concrete floors. Overhead access comprises one 12' x 12' door and four 14' x 14' doors. The buildings also include two restrooms and a breakroom. The showroom has four offices, a restroom, storeroom, utility room, in-floor heat, and air conditioning.

Utilities include a private water well, septic, three gas furnaces, central air, and a generator with battery backup. MCTV internet is available, and 3-phase electric is located approximately 500' from the property. About 3 acres at the front remain available for expansion, outdoor storage, parking, or additional improvements.

Key Highlights

• 5.049‑acre site with approximately 3 acres at the front available for future improvements or storage
• 16,800 square feet of steel building space plus a 4,008‑square‑foot showroom
• Steel free‑span buildings measure 80' x 120' (2019) and 80' x 90' (2024), each with 18' sidewalls

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$103,826

Cap Rate

4.15%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$2,076,520 $2.1M

Cap Rate 7%

$1,483,229 $1.5M

Cap Rate 9%

$1,153,622 $1.2M

Is this asking price fair?

Market Conditions

NOI Build-Up for 20,808 SF

Gross rent

$133.4K $6.41/SF

− Vacancy

−$11.2K −$0.54/SF

EGI

$122.1K $5.87/SF

− OpEx

−$18.3K −$0.88/SF

NOI

$103.8K $4.99/SF

Area

Wayne County, OH

Vacancy

8.42%

Lease Rate

$6.41 /SF/Yr

Expense Ratio

15.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$2,076,520

Cap Rate 7%

$1,483,229

Cap Rate 9%

$1,153,622

Alternative Uses

Best Use

Warehouse

$1.48M

$1.30M – $1.73M (±1% cap)

NOI $103,826 @ 7.0% cap · market cap 4.15%

Second Best

Industrial

$1.22M

$1.07M – $1.43M (±1% cap)

NOI $85,504 @ 7.0% cap · market cap 3.42%

Theoretical Best

Multifamily LT 5

$15.21M

$13.31M – $17.74M (±1% cap)

NOI $1,064,568 @ 7.0% cap · market cap 42.58%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Flex space

Suggested Use

Top Pick Electrical Service Bakery Kitchen & Bath Showroom Daycare Center Discount Store Department Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

5

Businesses Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Demographics for 44627, OH

7,692

Population

1,849

Households

4.2

Avg Household Size

23

Median Age

6%

College-Educated

34%

High-School Grad

47.5 sq mi

ZIP Area

162

Density / Sq Mi

$81,895

Median Household Income

$41,703

Median Earnings

$788

Median Rent

$331,000

Median Home Value

Market

Vacancy Rate% for Industrial in Midwest region

4.4% 2019

4.9% 2020

3.6% 2021

3.1% 2022

4.6% 2023

5% 2024

4.9% 2025

Frequently Asked Questions

What type of property is this?

Flex space - Multiple steel buildings and a separately configured showroom provide varied workspace, office, and service areas.

Where is this flex space located?

The property is located at 7907 Nonpariel Road Fredericksburg, OH.

What is the asking price?

The asking price for this property is $2,500,000.

What are key features of this property?

This property features: 5.049‑acre site with approximately 3 acres at the front available for future improvements or storage; 16,800 square feet of steel building space plus a 4,008‑square‑foot showroom; Steel free‑span buildings measure 80' x 120' (2019) and 80' x 90' (2024), each with 18' sidewalls