Bellefontaine Industrial Facility For
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31 Hunter Pl, Bellefontaine, OH 43311
58,180 SF industrial property with manufacturing potential in Bellefontaine, OH.
Property Size58,180 SF
Lot Size4.93 Acres
Price / SF$59.99
Days on Market769
Property Features for 31 Hunter Pl
General Information
Standard status
Active
Size
58,180 SF
Lot size
4.93 Acres
Property subtype
Industrial
Zoning
M1
Listing Agency:
IPB Industrial Property Brokers
Listed By:
Tim Echemann CCIM SIOR · License #OH 0000359250
Source:
Crexi
Added: Jul 2, 2024
Changed: Aug 8
Last Checked: Aug 8 at 4:22AM
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 IPB Industrial Property Brokers
Investment Insights
Based on property information with market context.
Located at 31 Hunter Place in Bellefontaine, OH, the Crossroads Business Center is a 58,180 SF industrial property suitable for light manufacturing. Constructed in 1996, the pre-engineered metal building features a clear height of 24' - 27', new LED lighting, and 6" concrete floors. The property includes a spacious office area, partial A/C in the manufacturing space, and a well-maintained HVAC system. It is equipped with 4 docks expandable to 8, 3 drive-in doors, 480V power, 800 Amps of power, and a wet sprinkler system. There are 48 parking spaces available. Situated on 4.929 acres in the Crossroads Industrial Park, the property is zoned for light manufacturing and offers easy access to U.S. 33 & U.S. 68 interchange. The location is adjacent to a rail line and approximately five miles from the Bellefontaine Regional Airport. Bellefontaine's revitalized downtown area and strategic location provide a supportive environment for businesses.
Key Highlights
- Strategic Location: Easy access to U.S. 33 & U.S. 68, proximity to rail line and Bellefontaine Regional Airport, located in the thriving Crossroads Industrial Park.
- High Functionality: 58,180 SF with 24'-27' clear height, 4 docks (expandable to 8), and 3 drive‑in doors, suitable for light manufacturing.
- Modern Infrastructure: New LED lighting, 480V power, wet sprinkler system, 6" concrete floors, and 800 Amps of power.
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
$239,073
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
6.85%
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%
$4,781,460
$4.8M
Cap Rate 7%
$3,415,329
$3.4M
Cap Rate 9%
$2,656,367
$2.7M
Market Conditions
NOI Build-Up for 58,180 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
$372.9K $6.41/SF
− Vacancy
−$31.4K −$0.54/SF
EGI
$341.5K $5.87/SF
− OpEx
−$102.5K −$1.76/SF
NOI
$239.1K $4.11/SF
Area
Logan 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%
$4,781,460
Cap Rate 7%
$3,415,329
Cap Rate 9%
$2,656,367
Alternative Uses
Best Use
Industrial
$3.42M
$2.99M – $3.98M
NOI $239,073 @ 7.0% cap · market cap 6.85%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$11.74M
$10.28M – $13.70M
NOI $822,098 @ 7.0% cap · market cap 23.56%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
337
Businesses Nearby
Explore this area
Business Placement
Demographics for 43311, OH
20,029
Population
9,497
Households
2.1
Avg Household Size
40
Median Age
17%
College-Educated
93%
High-School Grad
103.8 sq mi
ZIP Area
193
Density / Sq Mi
$64,217
Median Household Income
$40,341
Median Earnings
$833
Median Rent
$183,000
Median Home Value
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Manufacturing property - 58,180 SF industrial property with manufacturing potential in Bellefontaine, OH.
Where is this manufacturing property located?
The property is located at 31 Hunter Pl Bellefontaine, OH.
What is the asking price?
The asking price for this property is $3,490,000.
What are key features of this property?
This property features: Strategic Location: Easy access to U.S. 33 & U.S. 68, proximity to rail line and Bellefontaine Regional Airport, located in the thriving Crossroads Industrial Park.; High Functionality: 58,180 SF with 24'-27' clear height, 4 docks (expandable to 8), and 3 drive‑in doors, suitable for light manufacturing.; Modern Infrastructure: New LED lighting, 480V power, wet sprinkler system, 6" concrete floors, and 800 Amps of power.
