Industrial Warehouse with Rail
For Sale
$1,100,000
816 Milan Street N, Canal Fulton, OH 44614
CommercialSale, Canal Fulton, OH
Property Size20,000 SF
Lot Size3.70 Acres
Price / SF$55
Days on Market26
Property Features for 816 Milan Street N
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
Industrial
Subdivision
Canal Fulton
Elementary school district
Northwest LSD Stark- 7612
Middle school district
Northwest LSD Stark- 7612
High school district
Northwest LSD Stark- 7612
Directions
Take Milan St. north of Cherry St
Standard status
Active
APN
09503070
Lot size
3.70 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
OL 57 .12A; OL 58 .91A
Tax Annual Amount
9811
Legal Description
OL 57 .12A; OL 58 .91A
Utilities
Sewer type
Public Sewer
Heating system
Radiant, Natural Gas
Cooling system
Electric, Ductless
Water source
Public
Building Details
Year built
1910
Roof type
Rubber
Listing Agency:
Kiko
(330) 453-9187
Listed By:
Colton J Kiko · License #2019001100
(330) 614-2478
Added: Aug 5
Changed: Aug 19
Last Checked: Aug 30 at 11:06PM
MLS# 5234423
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.
Investment Insights
Based on property information with market context.
This industrial warehouse property spans 3.7 acres and includes a 20,000+ sq. ft. facility. The principal building provides 14,000+ sq. ft. of heated warehouse area with 13'6" ceilings, six exterior loading docks, two 5-ton overhead cranes, and air lines throughout. Recent improvements include concrete floors, 480V electric service, gas radiant tube heat, and a fire-rated wall and door system with ProTec alert equipment.
The climate-controlled office component measures 1,800 sq. ft. and contains five separate rooms and bathrooms. A 60'x80' cold-storage pole building adds concrete floors and electric service. The enclosed site has a 5 ft. chain-link fence with two gate entrances, public water and sewer, natural gas, and railroad siding along the R.J. Corman railroad. The property is currently operating as a pallet facility and is located within 30 minutes of Akron, Canton, Medina, and Wooster.
The climate-controlled office component measures 1,800 sq. ft. and contains five separate rooms and bathrooms. A 60'x80' cold-storage pole building adds concrete floors and electric service. The enclosed site has a 5 ft. chain-link fence with two gate entrances, public water and sewer, natural gas, and railroad siding along the R.J. Corman railroad. The property is currently operating as a pallet facility and is located within 30 minutes of Akron, Canton, Medina, and Wooster.
Key Highlights
- 20,000+ sq. ft. industrial facility on 3.7 acres
- 14,000+ sq. ft. heated warehouse area with 13'6" ceilings
- Six exterior loading docks and two 5‑ton overhead cranes
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
$82,051
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
7.46%
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%
$1,641,020
$1.6M
Cap Rate 7%
$1,172,157
$1.2M
Cap Rate 9%
$911,678
$911.7K
Market Conditions
NOI Build-Up for 20,000 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
$98.2K $4.91/SF
− Vacancy
−$1.7K −$0.08/SF
EGI
$96.5K $4.83/SF
− OpEx
−$14.5K −$0.72/SF
NOI
$82.1K $4.10/SF
Area
Stark County, OH
Vacancy
1.70%
Lease Rate
$4.91 /SF/Yr
Expense Ratio
15.00%
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%
$1,641,020
Cap Rate 7%
$1,172,157
Cap Rate 9%
$911,678
Alternative Uses
Best Use
Warehouse
$1.17M
$1.03M – $1.37M
NOI $82,051 @ 7.0% cap · market cap 7.46%
Second Best
—
—
no second resolved use
Theoretical Best
Retail
$5.22M
$4.57M – $6.09M
NOI $365,526 @ 7.0% cap · market cap 33.23%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
13 ft
Clear height
6
Dock-high doors
Yes
Fenced yard
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
180
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 44614, OH
12,922
Population
5,961
Households
2.2
Avg Household Size
44
Median Age
29%
College-Educated
96%
High-School Grad
22.8 sq mi
ZIP Area
567
Density / Sq Mi
$83,143
Median Household Income
$47,580
Median Earnings
$932
Median Rent
$201,700
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?
Warehouse - I-1 industrial property with warehouse, office, loading, and cold-storage improvements.
Where is this warehouse located?
The property is located at 816 Milan Street N Canal Fulton, OH.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: 20,000+ sq. ft. industrial facility on 3.7 acres; 14,000+ sq. ft. heated warehouse area with 13'6" ceilings; Six exterior loading docks and two 5‑ton overhead cranes
