Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    656 Wessel Dr Fairfield, OH 45014

    Property Lookup

    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    656 Wessel Dr Fairfield, OH 45014

    View on Map
    • Retail properties & Spaces
    • 3,304 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Retail properties & Spaces

    Property Details for 656 Wessel Dr

    Property size
    3,304 SF
    Property type
    Retail properties & Spaces
    Property subtype
    Office properties & Spaces

    Description

    This exceptional commercial property at 656 Wessel Drive in Fairfield, Ohio offers a rare opportunity to lease executive office space in a vibrant downtown location. The building, totaling 3,304 square feet, is currently fully vacant and available for lease. The property is zoned D-1 (downtown), allowing for a variety of uses. Multiple tenancy options are available, with suites ranging from a minimum of 1,156 square feet to a maximum contiguous space of 2,148 square feet. This flexibility makes it ideal for businesses of various sizes seeking a prominent presence in Fairfield's thriving business district. The building's classification includes both retail and office space, offering versatile options for potential tenants. Ample and convenient parking is provided for the convenience of employees and clients. The property is situated in Butler County, Ohio, with the precise address being 656 Wessel Drive, Fairfield, OH 45014. This location offers easy access to major transportation routes and amenities, making it an attractive option for businesses seeking a strategic location. Don't miss this chance to secure your ideal office space in this highly sought-after area.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Fairfield
    County
    Butler
    State
    Ohio
    Longitude
    -84.5573
    Latitude
    39.3357

    Comparable in this City

    • Value Estimation by Request
      0.08 Acres

      4243 Layhigh Rd

      RETAIL STORES (PERSONAL SERVICES) • 0.08 Acres
      4243 Layhigh Rd, Fairfield, OH 45014-5930
      View Details
    • Value Estimation by Request
      0.58 Acres

      6120 Pleasant Ave

      RETAIL STORES (PERSONAL SERVICES) • 0.58 Acres
      6120 Pleasant Ave, Fairfield, OH 45014-4623
      View Details
    • Value Estimation by Request
      0.06 Acres

      4942 Dixie Hwy

      RETAIL STORES (PERSONAL SERVICES) • 0.06 Acres
      4942 Dixie Hwy, Fairfield, OH 45014-2932
      View Details
    • Value Estimation by Request
      0.28 Acres

      1131 Magie Ave

      RETAIL STORES (PERSONAL SERVICES) • 0.28 Acres
      1131 Magie Ave, Fairfield, OH 45014-1823
      View Details
    • Value Estimation by Request
      0.28 Acres

      1131 Magie Ave

      RETAIL STORES (PERSONAL SERVICES) • 0.28 Acres
      1131 Magie Ave, Fairfield, OH 45014-1823
      View Details
    • Value Estimation by Request
      1,792 SF

      2651 Cincinnati Brookville Rd

      RETAIL STORES (PERSONAL SERVICES) • 1,792 SF
      2651 Cincinnati Brookville Rd, Fairfield, OH 45014-5905
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      15,050 SF

      Free Standing Retail/Office Building

      Vacant 15,050 SF building suitable for retail or office.
      5250 Dixie Hwy, Fairfield, OH 45014
      View Details
    • Contact for pricing

      Office/Retail Space with End-Cap

      2,148 SF suite suitable for office or retail use.
      656 Wessel Dr, Fairfield, OH 45014
      View Details
    • Contact for pricing
      5,608 SF

      Restaurant Property with Drive Thru

      Second-generation restaurant with drive-thru, pylon signage, and ample parking.
      6638 Dixie Hwy, Fairfield, OH 45014
      View Details
    • Contact for pricing

      Former Restaurant on Dixie Highway

      Former restaurant with high visibility and traffic counts available for sale.
      4670 Dixie Hwy, Fairfield, OH 45014
      View Details
    • $299,000
      2,642 SF

      Fairfield Office Space For Sale

      Office space available in Fairfield, Ohio, totaling 2,642 square feet.
      5966 Boymel Dr, Fairfield, OH 45014
      View Details
    • Contact for pricing
      5,527 SF

      Free-Standing Office/Retail Building For Rent

      5,527 SF office/retail building with 33 parking spaces.
      555 Wessel Dr, Fairfield, OH 45014
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      9,100 SF

      Retail Space in Fairfield, OH

      9,100 SF retail space available for lease.
      45014 Usa, Fairfield, OH 45014
      View Details
    • $12 SF/Yr
      2,148 SF

      Retail Spaces in Professional Center

      Two retail spaces available in a well-developed area.
      640 Wessel Dr, Fairfield, OH 45014
      View Details
    • Contact for pricing
      1,500 SF

      Retail Space on S Gilmore

      2,300 SF retail space with high visibility available for rent.
      500 Kolb Dr, Fairfield, OH 45014
      View Details
    • $14 SF/Yr
      3,024 SF

      Fairfield Retail Space Available

      Retail space for rent in Fairfield, Ohio.
      6516 Dixie Hwy, Fairfield, OH 45014
      View Details
    • $45 SF/Yr
      1,500 SF

      Retail Space Near Jungle Jim's

      Retail space available next to Starbucks and Jersey Mike’s.
      5440 Dixie Hwy, Fairfield, OH 45014
      View Details
    • $13 SF/Yr
      4,995 SF

      Retail Space in Fairfield, OH

      Retail space available for lease in Fairfield, Ohio.
      5846 Dixie Hwy, Fairfield, OH 45014
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    656 Wessel Dr
    Fairfield, OH 45014
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!