Flex Space with Garage
For Sale
$299,000
925 Upper Valley, Springfield, OH 45504
COMMERCIAL - Springfield, OH
Property Size3,200 SF
Lot Size7.50 Acres
Price / SF$93.44
Days on Market53
Property Features for 925 Upper Valley
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
Business, Commercial
Parking features
Garage
Subdivision
Mrs
Directions
Located on the West side of Upper Valley Pk just North of Rt 68/Rt 4.
Standard status
Active
APN
3000600017202011
Size
3,200 SF
Lot size
7.50 Acres
Taxes and HOA fees
Tax Year
2025
Utilities
Sewer type
Septic Tank
Heating system
Space Heater
Building Details
Year built
1964
Building materials
Wood Siding
Listing Agency:
eXp Realty
(513) 255-2886
Listed By:
Sara Foulk · License #2021008176
(513) 255-2886
Added: Jun 30
Changed: Aug 5
Last Checked: Aug 21 at 6:06AM
MLS# 1046777
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.
Investment Insights
Based on property information with market context.
This flex-space property includes approximately 3,200 square feet of improvements, comprising an approximately 800-square-foot former office and an approximately 2,400-square-foot garage/shop. The buildings date to 1964 and feature wood siding, space-heater service, a garage, and septic-tank sewer. The improvements require TLC. An asphalt parking area of approximately 8,000 square feet adds on-site vehicle capacity.
The property is located in Springfield Township, with access to area amenities and major roadways. A completed survey establishes the new parcel and is to be recorded with Clark County. A portion of the property lies within a designated floodplain, and intended use should be verified by the buyer.
The property is located in Springfield Township, with access to area amenities and major roadways. A completed survey establishes the new parcel and is to be recorded with Clark County. A portion of the property lies within a designated floodplain, and intended use should be verified by the buyer.
Key Highlights
- Approximately 3,200 square feet of improvements
- Approximately 800‑square‑foot former office
- Approximately 2,400‑square‑foot garage/shop
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
$13,149
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
4.40%
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%
$262,980
$263.0K
Cap Rate 7%
$187,843
$187.8K
Cap Rate 9%
$146,100
$146.1K
Market Conditions
NOI Build-Up for 3,200 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
$20.5K $6.41/SF
− Vacancy
−$1.7K −$0.54/SF
EGI
$18.8K $5.87/SF
− OpEx
−$5.6K −$1.76/SF
NOI
$13.1K $4.11/SF
Area
Clark County, OH
Vacancy
8.42%
Lease Rate
$6.41 /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%
$262,980
Cap Rate 7%
$187,843
Cap Rate 9%
$146,100
Alternative Uses
Best Use
Office B
$608.9K
$532.8K – $710.4K
NOI $42,621 @ 7.0% cap · market cap 14.25%
Second Best
Industrial
$187.8K
$164.4K – $219.2K
NOI $13,149 @ 7.0% cap · market cap 4.40%
Theoretical Best
Specialty Retail
$892.6K
$781.0K – $1.04M
NOI $62,480 @ 7.0% cap · market cap 20.90%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
249
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 45504, OH
17,343
Population
7,100
Households
2.4
Avg Household Size
41
Median Age
27%
College-Educated
92%
High-School Grad
22.0 sq mi
ZIP Area
788
Density / Sq Mi
$67,334
Median Household Income
$38,813
Median Earnings
$889
Median Rent
$167,700
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Commercial property combines office and shop improvements with substantial paved parking and acreage for flexible use.
Where is this flex space located?
The property is located at 925 Upper Valley Springfield, OH.
What is the asking price?
The asking price for this property is $299,000.
What are key features of this property?
This property features: Approximately 3,200 square feet of improvements; Approximately 800‑square‑foot former office; Approximately 2,400‑square‑foot garage/shop
