Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    15812 Oh-56 Mount Sterling, OH 43143
    Property profile & analytics

    15812 Oh-56, Mount Sterling, OH 43143

    View on Map
    • Office Spaces
    • 12,038 SF
    • 7.86 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Office Spaces

    Property Details for 15812 Oh-56

    Year built
    1997
    Lot size
    7.86 lot acres
    Property type
    Office Spaces
    Property subtype
    Land

    Description

    This exceptional commercial property presents a unique investment opportunity in Mount Sterling, Ohio. Located at 15812 OH-56, this 12,038 square foot flex space sits on a generous 7.862-acre lot, offering significant expansion potential. The property comprises two buildings, each two stories high, constructed in 1997 and zoned for Commercial/Industrial use. The versatile layout includes approximately 8,000 square feet of warehouse space and 4,000 square feet of office/common area, ideal for a variety of light manufacturing or flex-use businesses. The property's location in Monroe Township, Pickaway County, provides easy access to Mount Sterling's downtown area. With no loading docks or dock-high doors currently present, this property offers a blank canvas for customization to suit specific operational needs. The asking price is $799,955. This property is a single-tenancy building, offering complete control and flexibility to the new owner. The expansive lot size provides ample room for future growth and development, making this a truly compelling investment opportunity in a thriving Ohio market. The property's zoning allows for a wide range of commercial and industrial uses, maximizing its potential for future income generation. This is a rare chance to acquire a substantial property with significant upside in a desirable location.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Mount Sterling
    County
    Pickaway
    State
    Ohio
    Longitude
    -83.2426
    Latitude
    39.7116

    Comparable in this City

    • Value Estimation
      $950,000
      1.38 Acres

      13455 Sr 38

      FOOD PACKING, PACKING PLANT
      13455 Sr 38, Mount Sterling, OH 43143
      View Details
    • Value Estimation by Request
      1.16 Acres

      Harrison NE Rd

      MANUFACTURING (LIGHT)
      Harrison NE Rd, Mount Sterling, OH 43143
      View Details
    • Value Estimation by Request

      Cook Yankeetown NE Rd

      MANUFACTURING (LIGHT)
      Cook Yankeetown NE Rd, Mount Sterling, OH 43143
      View Details
    • Value Estimation
      $6,070,000
      65,732 SF

      15441 Scioto Darby Rd

      MANUFACTURING (LIGHT)
      15441 Scioto Darby Rd, Mount Sterling, OH 43143-9036
      View Details
    • Value Estimation by Request

      Cook Yankeetown NE Rd

      MANUFACTURING (LIGHT)
      Cook Yankeetown NE Rd, Mount Sterling, OH 43143
      View Details
    • Value Estimation by Request
      1,600 SF

      150 4th Ave

      ASSEMBLY (LIGHT INDUSTRIAL)
      150 4th Ave, Mount Sterling, OH 43143-1050
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      17.8 Acres in Deer Creek

      Spacious 17.8-acre lot near Deer Creek area, Ohio.
      Yankeetown Pike, Mount Sterling, OH 43143
      View Details
    • Contact for pricing

      4-Acre Lot with Barn

      Land with mature trees, well, septic, and barn.
      11260 State Route 56, Mount Sterling, OH 43143
      View Details
    • Contact for pricing

      Industrial Land Near I-71

      Land with utilities access near Mt. Sterling industrial park.
      14533 State Route 56 SE, Mount Sterling, OH 43143
      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.
    15812 Oh-56
    Mount Sterling, OH 43143
    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

    Thank You for Inquiry
    15812 Oh-56, Mount Sterling, OH, 43143
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!