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Corner Lot with Operating Car

429 S Limestone Street Springfield, OH 45505

429 S Limestone Street, Springfield, OH, 45505
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For Sale
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Operating car lot with office and storage space for sale.

Property Size1,872 SF
Price / SF$165.60
AddedDec 3, 2023
Days on Market955
Last RefreshJul 15 at 12:27 pm

Property Features for 429 S Limestone Street

General Information

Standard status
Active
Size
1,872 SF
Property subtype
Mixed Use

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


Investment Insights

Based on property information with market context.

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.

Key Highlights

  • High‑visibility corner lot at a major intersection.
  • Currently operating car lot with existing infrastructure.
  • Two service bays for vehicle maintenance or repair.

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 (±1% cap)
NOI $24,934 @ 7.0% cap · market cap 8.04%
Second Best
Industrial
$109.9K
$96.2K – $128.2K (±1% cap)
NOI $7,692 @ 7.0% cap · market cap 2.48%
Theoretical Best
Specialty Retail
$522.2K
$456.9K – $609.2K (±1% cap)
NOI $36,551 @ 7.0% cap · market cap 11.79%
Zoning and permitted uses should be independently verified with local authorities.

Property Analytics

Property Profile Location Intelligence

Current Use by Public Records

Hope No Dope ... Church

Suggested Use

Dental Office Spa & Massage Center Skin Care Clinic (Bike/Boat/Book/etc) Store Storage Facility Nail Salon Hair Salon Cafe & Coffee Shop Daycare Center Garden Center

Zoning and permitted uses should be independently verified with local authorities.

Similar Off Market Nearby

  • U-Haul Neighborhood Dealer — 2600 S Limestone St, Springfield, OH 45505
  • U-Haul Neighborhood Dealer — 545 E Leffel Ln, Springfield, OH 45505

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.
Contact an agent
(937) 342-9995 Call to check price and availability
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