Building Details

Units 16

Tenancy Multi

Listing Agency: Crawford Hoying Show Phone

Listed By: Don Brokaw · License #OH-448270

Source: Crexi

Added: May 21 Changed: Aug 8 Last Checked: Aug 8 at 7:32AM

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Investment Insights

Based on property information with market context.

A flex condo is available for sale. The property offers 3,700 square feet of space.

Key Highlights

• Flex condo available for sale.

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

$42,990

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

5.38%

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%

$859,800 $859.8K

Cap Rate 7%

$614,143 $614.1K

Cap Rate 9%

$477,667 $477.7K

Market Conditions

NOI Build-Up for 3,700 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

$80.8K $21.84/SF

− Vacancy

−$19.4K −$5.24/SF

EGI

$61.4K $16.60/SF

− OpEx

−$18.4K −$4.98/SF

NOI

$43.0K $11.62/SF

Area

Madison County, OH

Vacancy

24.00%

Lease Rate

$21.84 /SF/Yr

Expense Ratio

30.00%

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%

$859,800

Cap Rate 7%

$614,143

Cap Rate 9%

$477,667

Alternative Uses

Best Use

Industrial

$614.1K

$537.4K – $716.5K (±1% cap)

NOI $42,990 @ 7.0% cap · market cap 5.38%

Second Best

Flex RnD

$262.6K

$229.8K – $306.3K (±1% cap)

NOI $18,380 @ 7.0% cap · market cap 2.30%

Theoretical Best

Warehouse

$745.7K

$652.5K – $870.0K (±1% cap)

NOI $52,202 @ 7.0% cap · market cap 6.53%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Property Profile

Current Use

Flex space

Suggested Use

Top Pick Parking Lot & Garage Plumbing Service (Bike/Boat/Book/etc) Store Pharmacy Real Estate Agency Cafe & Coffee Shop

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

97

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

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

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this flex space located? What is the asking price? Find similar properties ... What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Flex space - Flex condo available for sale.

Where is this flex space located?

The property is located at 8540 RAUSCH DR Plain City, OH.

What is the asking price?

The asking price for this property is $799,000.

What are key features of this property?

This property features: Flex condo available for sale.