Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    111 W Wheeling St Lancaster, OH 43130
    Property profile & analytics

    111 W Wheeling St, Lancaster, OH 43130

    View on Map
    • Commercial real estate
    • 6,732 SF
    • 0.14 lot acres
    For Lease
    $580/Mo
    View Listing →
    COMMERCIAL - Lancaster, OH For Lease
    $580/Mo
    3,874 SF

    COMMERCIAL - Lancaster, OH

    Office Units · 3,874 SF

    111 W Wheeling Street, Lancaster, OH 43130
    View Listing
    Property ID
    US66-0185194
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Tobin-McFarland / General Contractor
    • Studio 10 Too Photography / Photography Service / (Bike/Boat/Book/etc) Store
    • Abdulrahman Harrell Photography Studio / (Bike/Boat/Book/etc) Store / Photography Service

    Property Details for 111 W Wheeling St

    Year built
    1965
    Lot size
    0.14 lot acres
    Property type
    Commercial real estate

    Description

    This exceptional executive office space, located in the heart of Downtown Lancaster, offers a blend of classic charm and modern convenience. Situated just one block from Main Street, this recently remodeled building provides immediate access to the courthouse, municipal buildings, and other key city amenities. The property boasts a total of 6,732 square feet, currently configured with multiple suites. Two spaces are immediately available, offering flexible options ranging from smaller, efficient layouts to larger suites capable of accommodating expanding businesses. One available space is a 350 square foot office, renting for $580 per month, inclusive of all utilities, plus a $50 monthly common area maintenance (CAM) fee. Off-street parking is available for both clients and staff, a significant advantage in a bustling downtown area. The building itself was constructed in 1965 and sits on a 0.14-acre lot (6,160 square feet), offering a convenient and accessible location for businesses of all sizes. The property's address is 111 W Wheeling Street, Lancaster, and its APN is 05-32024-600, located in Fairfield County. This is an excellent opportunity to establish a presence in a thriving downtown environment. Contact us today to schedule a viewing and explore the possibilities.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Lancaster
    County
    Fairfield
    State
    Ohio
    Longitude
    -82.602501557848
    Latitude
    39.715015057791

    Comparable in this City

    • Contact for pricing

      New Office Buildings in Lancaster

      New office spaces available in Lancaster's business corridor.
      2656 N Columbus St, Lancaster, OH 43130
      View Details
    • $3,683 /Mo
      9,300 SF

      Downtown Lancaster Office Suite For Rent

      Prime office suite in downtown Lancaster, available March 1, 2026.
      113 W Wheeling St, Lancaster, OH 43130
      View Details
    • $14 SF/Yr
      12,584 SF

      Medical Office Building For Lease

      Multi-tenant medical office building with renovated common areas.
      2405 North Columbus St, Lancaster, OH 43130
      View Details
    • Contact for pricing
      30,000 SF

      Lancaster Office Space Available

      30,000 square feet of office space for rent.
      1432 NW Collins Rd, Lancaster, OH 43130
      View Details
    • Contact for pricing

      Medical Building with Custom Build-Out

      Multi-tenant medical building with build-out options and ample parking.
      2405 N Columbus St, Lancaster, OH 43130
      View Details
    • Contact for pricing

      Versatile Retail/Office Space Available

      Adaptable space suitable for retail, medical, or office use.
      1145 E Main St, Lancaster, OH 43130
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      6,538 SF

      Iconic Lancaster Mixed-Use Building

      Historic building with office and residential spaces in Lancaster.
      355 E Main St, Lancaster, OH 43130
      View Details
    • Contact for pricing
      9,954 SF

      Lancaster Medical Office Investment Opportunity

      Single-tenant medical office building leased through 2032.
      1781 Countryside Dr, Lancaster, OH 43130
      View Details
    • Contact for pricing
      1,904 SF

      Versatile Office Building in Lancaster

      Adaptable office building in high-traffic location, suitable for various uses.
      830 E Main St, Lancaster, OH 43130
      View Details
    • Contact for pricing
      3,914 SF

      Office Building Near Downtown Lancaster

      3,914 SF office building with ample parking and signage.
      1941 E Main St, Lancaster, OH 43130
      View Details
    • $475,000
      3,445 SF

      Lancaster East Side Office Building

      Former medical office with remodeled interior and upstairs apartment.
      435 E Main St, Lancaster, OH 43130
      View Details
    • $139,900
      2,406 SF

      Lancaster Mixed-Use Commercial Building

      Spacious building, versatile layout, prime location.
      500 Maple St, Lancaster, OH 43130
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      New Office Buildings in Lancaster

      New office spaces available in Lancaster's business corridor.
      2656 N Columbus St, Lancaster, OH 43130
      View Details
    • $14 SF/Yr
      12,584 SF

      Medical Office Building For Lease

      Multi-tenant medical office building with renovated common areas.
      2405 North Columbus St, Lancaster, OH 43130
      View Details
    • Contact for pricing
      30,000 SF

      Lancaster Office Space Available

      30,000 square feet of office space for rent.
      1432 NW Collins Rd, Lancaster, OH 43130
      View Details
    • Contact for pricing

      Medical Building with Custom Build-Out

      Multi-tenant medical building with build-out options and ample parking.
      2405 N Columbus St, Lancaster, OH 43130
      View Details
    • Contact for pricing

      Versatile Retail/Office Space Available

      Adaptable space suitable for retail, medical, or office use.
      1145 E Main St, Lancaster, OH 43130
      View Details
    • Contact for pricing

      Prime Office Space Available

      Well-connected office space near shopping, parks, and transportation.
      201 S Broad St, Lancaster, OH 43130
      View Details
    View Listing
    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.
    111 W Wheeling St
    Lancaster, OH 43130
    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
    111 W Wheeling St, Lancaster, OH, 43130
    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!