Flexible Industrial Warehouse
For Sale
$1,200,000
950 E Canal St, Nelsonville, OH 45764
Four firewall-separated sections with multiple entrances and parking support flexible tenant or user configurations.
Property Size25,000 SF
Price / SF$48
Days on Market124
Property Features for 950 E Canal St
General Information
Standard status
Active
Size
25,000 SF
Additional Details
Road Access
Yes
Taxes and HOA fees
Annual Taxes
$15,106
Listing Agency:
The Athens Real Estate Co., Ltd.
(740) 589-4600
Listed By:
C.R. Pratt
(740) 591-2334
Source:
Exprealty
Added: May 6
Changed: Aug 20
Last Checked: Sep 5 at 2:09PM
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.
Investment Insights
Based on property information with market context.
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.
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.
Key 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
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
$74,379
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
6.20%
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%
$1,487,580
$1.5M
Cap Rate 7%
$1,062,557
$1.1M
Cap Rate 9%
$826,433
$826.4K
Market Conditions
NOI Build-Up for 25,000 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
$126.0K $5.04/SF
− Vacancy
−$19.7K −$0.79/SF
EGI
$106.3K $4.25/SF
− OpEx
−$31.9K −$1.28/SF
NOI
$74.4K $2.98/SF
Area
Athens County, OH
Vacancy
15.67%
Lease Rate
$5.04 /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%
$1,487,580
Cap Rate 7%
$1,062,557
Cap Rate 9%
$826,433
Alternative Uses
Best Use
Flex RnD
$3.41M
$2.98M – $3.97M
NOI $238,443 @ 7.0% cap · market cap 19.87%
Second Best
Industrial
$1.06M
$929.7K – $1.24M
NOI $74,379 @ 7.0% cap · market cap 6.20%
Theoretical Best
Office A
$5.71M
$5.00M – $6.66M
NOI $399,672 @ 7.0% cap · market cap 33.31%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
259
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 45764, OH
7,859
Population
3,525
Households
2.2
Avg Household Size
36
Median Age
12%
College-Educated
85%
High-School Grad
79.0 sq mi
ZIP Area
99
Density / Sq Mi
$47,978
Median Household Income
$31,688
Median Earnings
$761
Median Rent
$112,500
Median Home Value
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
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 $1,200,000.
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
