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    Flexible Industrial Warehouse Building Title is generated by Realmo AI

    950 E Canal St, Nelsonville, OH 45764

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    For Sale
    $1,500,000

    Four firewall-separated sections with multiple entrances and parking support flexible tenant or user configurations.

    Property size:
    25,000 SF
    Price / SF:
    $60/SF
    Added:
    May 6, 2026
    Days on Market:
    33
    Last Refresh:
    Jun 6 at 4:44 am

    Property Features for 950 E Canal St

    General Information

    Standard status
    Active
    Size
    25,000 SF

    We can help!

    Listing Contact
    C.R. Pratt

    Listing agent C.R. Pratt

    Listing office The Athens Real Estate Co., Ltd.

    Listing date May 6, 2026

    Source Exprealty

    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 The Athens Real Estate Co., Ltd.

    HighLights

    • 25,000+ SF commercial building designed in four connected sections
    • Each of the four sections has floor‑to‑ceiling firewalls for separated use as one or multiple spaces
    • Eight new A/C units to be installed prior to closing; two forced‑air gas furnaces in each section
    • Over 400 ft of road frontage on the main thoroughfare through Nelsonville plus 40+ parking spaces across the front
    • Multiple entrances designed for customer flow; includes energy‑efficient Halo lighting, three bathrooms, office space, and extensive storage
    • Newer metal roof; building not located in the flood plain

    Overview

    This sale features a 25,000+ square foot commercial building designed in four connected sections that can operate as one unit or be divided into individual spaces. Each section is separated with full floor-to-ceiling firewalls and includes two forced-air gas furnaces. The property will have eight brand-new A/C units installed prior to closing and includes energy-efficient Halo lighting, multiple office spaces, extensive storage areas, and three bathrooms.

    The building sits on a main thoroughfare through Nelsonville with more than 400 feet of road frontage. There are more than 40 parking spaces across the front to support customer and employee access, and the layout includes multiple entrances intended to facilitate customer flow. The roof is described as newer metal, and the building is not located in the flood plain.

    With firewall separation, multiple entrances, and on-site offices and storage, the building can fit a range of industrial, warehouse, flex, or office-user scenarios that benefit from flexible space planning. The combination of road frontage, parking, and tenant-dividable sections can also be practical for owner-occupants or operators looking to manage different areas independently.
    Location Intelligence

    Current Use by Public Records

    U-Haul Neighborhood Dealer Car Rental Facility Blackburn Home Furnishings Furniture & Home Goods

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Accounting Firm

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

    Location Insight

    • Map
    • Local Demand
    City
    Nelsonville
    County
    Athens
    State
    Ohio
    Longitude
    -82.2215162
    Latitude
    39.4506499

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    • $620,000

      Strip Mall Retail Building

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    • $226,300
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    FAQs

    What type of property is this?
    Flex space - Four firewall-separated sections with multiple entrances and parking support flexible tenant or user configurations.
    Where is this flex space located?
    The property is located at 950 E Canal St Nelsonville, OH.
    What is the asking price?
    The asking price for this property is $1,500,000.
    What are key features of this property?
    This property features: 25,000+ SF commercial building designed in four connected sections; Each of the four sections has floor‑to‑ceiling firewalls for separated use as one or multiple spaces; Eight new A/C units to be installed prior to closing; two forced‑air gas furnaces in each section
    (740) 591-2334
    We can help!
    Listing Contact
    C.R. Pratt
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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