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    Union Street, Madison, OH 44057

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    Claim this Listing
    New
    For Sale
    $200,000

    LAND - Madison, OH

    Property size:
    2,400 SF
    Lot size:
    3.62 Acres
    Price / SF:
    $83/SF
    Added:
    Jul 1, 2026
    Days on Market:
    3
    Last Refresh:
    Jul 3 at 2:06 am

    Property Features for Union Street

    General Information

    Property type
    Land
    Property subtype
    Other
    Parking features
    Driveway
    Standard status
    Active
    APN
    02-A-008-B-00-011-0
    Lot size
    3.62 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Description
    LOT 17
    Tax Annual Amount
    1717

    Building Details

    Additional Structures
    Garage(s)

    We can help!

    Contact an agent
    Kayla L Green

    Listing agent Kayla L Green License #2019000388

    Listing office McDowell Homes Real Estate Services 7230 Mentor Avenue, Mentor, OH

    Listing date Jul 1, 2026

    MLS# 5223519 Listing URL

    Copyright © 2026 MLS Now. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • 40' x 60' garage on 3.6 acres in Madison Village
    • Loft level for additional storage or workspace
    • 220‑volt electrical service
    • Driveway provides on‑site parking

    Local Financial Insights For Warehouse

    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 $13.7k $5.71
    − Vacancy −$507 −$0.21
    EGI $13.2k $5.50
    − OpEx −$2.0k −$0.82
    NOI $11.2k $4.67
    2,400 SF · lease $5.71/SF/yr · vacancy 3.70% · expense 15.00%

    Alternative Uses

    Best Use
    Warehouse
    $160.2K
    $140.2K – $187.0K (±1% cap)
    NOI $11,217 @ 7.0% cap · market cap 5.61%
    Second Best
    Industrial
    $132.0K
    $115.5K – $154.0K (±1% cap)
    NOI $9,238 @ 7.0% cap · market cap 4.62%
    Theoretical Best
    Office A
    $554.3K
    $485.0K – $646.7K (±1% cap)
    NOI $38,802 @ 7.0% cap · market cap 19.40%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Flex space

    Map

    City
    Madison
    County
    Lake
    State
    Ohio
    Longitude
    -81.0493587
    Latitude
    41.7737151

    FAQs

    Where is this flex space located?
    The property is located at Union Street Madison, OH.
    What is the asking price?
    The asking price for this property is $200,000.
    What are key features of this property?
    This property features: 40' x 60' garage on 3.6 acres in Madison Village; Loft level for additional storage or workspace; 220‑volt electrical service
    More about this property
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