Corner Lot with Operating
429 S Limestone Street, Springfield, OH 45505
Operating car lot with office and storage space for sale.
Type:Mixed Use
Property size:
1,872 SFPrice / SF:
$165/SF- Added:
- Dec 3, 2023
- Days on Market:
- 909
- Last Refresh:
- May 12 at 9:37 pm
Property Features for 429 S Limestone Street
General Information
- Standard status
- Active
- Size
- 1,872 SF
- Property subtype
- Mixed Use
Listing agent Charlene Roberge License #2006004954
Listing office Lagonda Creek Real Estate, LLC
Listing date Dec 3, 2023
Source Crexi
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 Lagonda Creek Real Estate, LLC
HighLights
- High‑visibility corner lot at a major intersection.
- Currently operating car lot with existing infrastructure.
- Two service bays for vehicle maintenance or repair.
- Large office space suitable for business operations.
- Two driveways providing easy property access.
- Potential to add a second bathroom.
Overview
This property is situated on a corner lot at the intersection of S. Limestone St, West Pleasant St, Spring St, and Selma Road, offering high visibility. Currently operating as a car lot, the property includes 1,872 square feet of space. It features two bays, a large office, a medium-sized storage room, and one bathroom, with the potential to add a second. The property also has two driveways for access.
Local Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $41.1k | $21.93 |
| − Vacancy | −$7.8k | −$4.17 |
| EGI | $33.2k | $17.76 |
| − OpEx | −$8.3k | −$4.44 |
| NOI | $24.9k | $13.32 |
1,872 SF · lease $21.93/SF/yr · vacancy 19.02% · expense 25.00%
Alternative Uses
Best Use
Office B
$356.2K
$311.7K – $415.6K
NOI $24,934 @ 7.0% cap · market cap 8.04%
Second Best
Industrial
$109.9K
$96.2K – $128.2K
NOI $7,692 @ 7.0% cap · market cap 2.48%
Theoretical Best
Specialty Retail
$522.2K
$456.9K – $609.2K
NOI $36,551 @ 7.0% cap · market cap 11.79%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Location Intelligence
Current Use by Public Records
Hope No Dope ...
Church
Similar Places Nearby
- U-Haul Neighborhood Dealer — 2600 S Limestone St, Springfield, OH 45505
- U-Haul Neighborhood Dealer — 545 E Leffel Ln, Springfield, OH 45505
Location Insight
- Map
- Local Demand
- City
- Springfield
- County
- Clark
- State
- Ohio
- Longitude
- -83.8091121
- Latitude
- 39.919037
Nearby Similar for Sale
FAQs
What type of property is this?
Parking lot & garage - Operating car lot with office and storage space for sale.
Where is this parking lot & garage located?
The property is located at 429 S Limestone Street Springfield, OH.
What is the asking price?
The asking price for this property is $310,000.
What are key features of this property?
This property features: High‑visibility corner lot at a major intersection.; Currently operating car lot with existing infrastructure.; Two service bays for vehicle maintenance or repair.
