Food-Grade Office/Warehouse
For Sale
Contact for pricing
Pending
8205 Estates Pkwy, Plain City, OH 43064
Fully air-conditioned food-grade facility with office, warehouse, open production space, and two loading docks.
Property Size6,075 SF
Days on Market96
Property Features for 8205 Estates Pkwy
General Information
Standard status
Pending
Size
6,075 SF
Property subtype
INDUSTRIAL
Warehouse & Industrial
Clear Height
14 ft
Drive-In Doors
1
Heavy Power
Yes
Additional Details
Business Included
No
Listing Agency:
Rj Boll Realty, Ltd.
(614) 799-2100
Listed By:
Jake Boll, SIOR · License #SAL.2016006108
(614) 307-9933
Source:
Moodyscre
Added: Jun 9
Changed: Aug 14
Last Checked: Sep 11 at 12:59PM
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 Rj Boll Realty, Ltd.
Investment Insights
Based on property information with market context.
This fully air-conditioned food-grade office/warehouse condo offers a total of 6,075 square feet, including approximately 1,000 square feet of office, 3,000 square feet of warehouse, and 2,000 square feet of open production room. The facility is built with loading and equipment access for day-to-day operations, featuring two docks and a 10’x12’ drive-in door. With 14’ clear height and 3-phase electric service, the space is configured for practical industrial production and storage needs.
The property is located at 8205 Estates Pkwy in Plain City, Ohio.
The property is located at 8205 Estates Pkwy in Plain City, Ohio.
Key Highlights
- ±6,075 SF office/warehouse condo with fully air‑conditioned food‑grade facility
- Includes ±1,000 SF office, ±3,000 SF warehouse, and ±2,000 SF open production room
- Loading includes 2 docks and a 10’ x 12’ drive‑in door
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
$85,710
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
7.97%
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%
$1,714,200
$1.7M
Cap Rate 7%
$1,224,429
$1.2M
Cap Rate 9%
$952,333
$952.3K
Market Conditions
NOI Build-Up for 6,075 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
$132.7K $21.84/SF
− Vacancy
−$31.8K −$5.24/SF
EGI
$100.8K $16.60/SF
− OpEx
−$15.1K −$2.49/SF
NOI
$85.7K $14.11/SF
Area
Madison County, OH
Vacancy
24.00%
Lease Rate
$21.84 /SF/Yr
Expense Ratio
15.00%
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%
$1,714,200
Cap Rate 7%
$1,224,429
Cap Rate 9%
$952,333
Alternative Uses
Best Use
Warehouse
$1.22M
$1.07M – $1.43M
NOI $85,710 @ 7.0% cap · market cap 7.97%
Second Best
Industrial
$1.01M
$882.3K – $1.18M
NOI $70,585 @ 7.0% cap · market cap 6.57%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
14 ft
Clear height
1
Drive-in doors
Yes
Heavy power
Location Intelligence
Trade Area within ½ mile
300
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 43064, OH
17,301
Population
6,450
Households
2.7
Avg Household Size
38
Median Age
55%
College-Educated
97%
High-School Grad
103.6 sq mi
ZIP Area
167
Density / Sq Mi
$129,196
Median Household Income
$66,588
Median Earnings
$1,395
Median Rent
$419,300
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Industrial in Midwest region
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Frequently Asked Questions
What type of property is this?
Flex space - Fully air-conditioned food-grade facility with office, warehouse, open production space, and two loading docks.
Where is this flex space located?
The property is located at 8205 Estates Pkwy Plain City, OH.
What is the asking price?
The asking price for this property is $1,075,000.
What are key features of this property?
This property features: ±6,075 SF office/warehouse condo with fully air‑conditioned food‑grade facility; Includes ±1,000 SF office, ±3,000 SF warehouse, and ±2,000 SF open production room; Loading includes 2 docks and a 10’ x 12’ drive‑in door
