Flex Space with Service
8187 State Route 708, Russells Point, OH 43348
For Sale
$649,000
Pending
Commercial Sale, Russells Point, OH
Property Size6,400 SF
Lot Size2.41 Acres
Days on Market383
Property Features for 8187 State Route 708
General Information
Property type
Property subtype
Zoning description
Directions
Subdivision
Standard status
APN
Size
Lot size
Additional Details
Real Estate Included
Automotive Uses
Taxes and HOA fees
Tax Year
Utilities
Sewer type
Heating system
Cooling system
Amenities
two office spaces
restroom
fully insulated workshop area
oil burner heat
four overhead doors
updated LED lighting
Building Details
Year built
Flooring type
Building materials
Buildings
Listing Agency:
Binkley Real Estate, LLC
Listed By:
Kurt Brandehoff
(419) 738-3232
Added: Oct 24, 2025
Changed: Oct 24
Last Checked: Nov 10 at 6:06AM
MLS# 1042193
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.
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Investment Insights
Based on property information with market context.
This flex property includes two separate commercial buildings on approximately 2.41 acres. The front building combines two offices, a restroom, and an insulated workshop served by oil burner heat. Its automotive-oriented setup includes two service bays, available vehicle lifts, and a tire changer. The rear building provides open commercial space with four overhead doors and updated LED lighting, supporting storage, manufacturing, equipment, or fleet-related operations.
Located at 8187 State Route 708 in Russells Point, Ohio, the property has public sewer service and building systems that include natural gas, forced-air, oil, and central air. Steel siding and vinyl flooring are among the recorded construction and finish details. The property was built in 2003 and may also be offered as separate parcels.
Located at 8187 State Route 708 in Russells Point, Ohio, the property has public sewer service and building systems that include natural gas, forced-air, oil, and central air. Steel siding and vinyl flooring are among the recorded construction and finish details. The property was built in 2003 and may also be offered as separate parcels.
Key Highlights
- Approximately 2.41 acres across 3 parcels
- Two commercial buildings with separate functional areas
- Front building includes 2 service bays, 2 offices, a restroom, and an insulated workshop
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$31,934
Cap Rate
4.92%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$638,680
$638.7K
Cap Rate 7%
$456,200
$456.2K
Cap Rate 9%
$354,822
$354.8K
Market Conditions
NOI Build-Up for 6,400 SF
Gross rent
$41.0K $6.41/SF
− Vacancy
−$3.5K −$0.54/SF
EGI
$37.6K $5.87/SF
− OpEx
−$5.6K −$0.88/SF
NOI
$31.9K $4.99/SF
Area
Logan 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%
$638,680
Cap Rate 7%
$456,200
Cap Rate 9%
$354,822
Alternative Uses
Best Use
Warehouse
$456.2K
$399.2K – $532.2K
NOI $31,934 @ 7.0% cap · market cap 4.92%
Second Best
Industrial
$375.7K
$328.7K – $438.3K
NOI $26,299 @ 7.0% cap · market cap 4.05%
Theoretical Best
Office A
$1.29M
$1.13M – $1.51M
NOI $90,434 @ 7.0% cap · market cap 13.93%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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See the owner, sales and loan history
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Current Use
Lease Details
2
Service bays
Location Intelligence
Trade Area within ½ mile
101
Businesses Nearby
Under-served
Demand for This Use
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Business Placement
Demographics for 43348, OH
1,880
Population
1,498
Households
1.3
Avg Household Size
47
Median Age
18%
College-Educated
86%
High-School Grad
2.3 sq mi
ZIP Area
817
Density / Sq Mi
$50,658
Median Household Income
$32,132
Median Earnings
$763
Median Rent
$147,900
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 - Two-building commercial property with office areas, workshop space, and rear storage or production capacity.
Where is this flex space located?
The property is located at 8187 State Route 708 Russells Point, OH.
What is the asking price?
The asking price for this property is $649,000.
What are key features of this property?
This property features: Approximately 2.41 acres across 3 parcels; Two commercial buildings with separate functional areas; Front building includes 2 service bays, 2 offices, a restroom, and an insulated workshop
