Office-Warehouse Flex
1017 Commerce Drive, Grafton, OH 44044
For Sale
Contact for pricing
Updated office space is paired with a separate warehouse area in a single building.
Property Size8,400 SF
Lot Size1.48 Acres
Price / SF$82.74
Days on Market29
Property Features for 1017 Commerce Drive
General Information
Standard status
Size
Lot size
Property subtype
Warehouse & Industrial
Clear Height
Warehouse Space
Office Build-Out
Dock-High Doors
Drive-In Doors
Power
Three-Phase Power
Additional Details
Outdoor Storage
Property Use
Building Details
Building Size
Listing Agency:
CBRE - Cleveland
Listed By:
Mike Petrigan · License #OH SAL.0000435412
(216) 695-6356
Source:
Crexi
Added: Oct 12
Changed: Nov 8
Last Checked: Nov 8 at 2:36PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of CBRE - Cleveland
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This flex property contains 8,400 SF, divided between 2,400 SF of office space and 6,000 SF of warehouse area. The office has been updated, and the warehouse offers 14' clear height, compressed air lines, and 3 phase 400 amp power. Loading is served by one dock door and one drive-in door. The property occupies 1.48 acres, with yard and storage space outside the building.
Located off Route 57, the property is at 1017 Commerce Drive in Grafton, Ohio.
Located off Route 57, the property is at 1017 Commerce Drive in Grafton, Ohio.
Key Highlights
- 8,400 SF building with 2,400 SF of office and 6,000 SF of warehouse space
- 1.48‑acre site with yard and storage space
- One dock door and one drive‑in door
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$38,533
Cap Rate
5.54%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$770,660
$770.7K
Cap Rate 7%
$550,471
$550.5K
Cap Rate 9%
$428,144
$428.1K
Market Conditions
NOI Build-Up for 8,400 SF
Gross rent
$47.1K $5.61/SF
− Vacancy
−$1.8K −$0.21/SF
EGI
$45.3K $5.40/SF
− OpEx
−$6.8K −$0.81/SF
NOI
$38.5K $4.59/SF
Area
Lorain County, OH
Vacancy
3.80%
Lease Rate
$5.61 /SF/Yr
Expense Ratio
15.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$770,660
Cap Rate 7%
$550,471
Cap Rate 9%
$428,144
Alternative Uses
Best Use
Warehouse
$550.5K
$481.7K – $642.2K
NOI $38,533 @ 7.0% cap · market cap 5.54%
Second Best
Flex RnD
$496.8K
$434.7K – $579.6K
NOI $34,775 @ 7.0% cap · market cap 5.00%
Theoretical Best
Office A
$2.12M
$1.85M – $2.47M
NOI $148,176 @ 7.0% cap · market cap 21.32%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Lease Details
14 ft
Clear height
1
Dock-high doors
1
Drive-in doors
Location Intelligence
Trade Area within ½ mile
160
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 44044, OH
14,911
Population
4,304
Households
3.5
Avg Household Size
45
Median Age
17%
College-Educated
89%
High-School Grad
54.1 sq mi
ZIP Area
276
Density / Sq Mi
$86,582
Median Household Income
$37,906
Median Earnings
$995
Median Rent
$231,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Properties on Market for Flex space in Lorain County
Vacancy Rate% for Industrial in Midwest region
Frequently Asked Questions
What type of property is this?
Flex space - Updated office space is paired with a separate warehouse area in a single building.
Where is this flex space located?
The property is located at 1017 Commerce Drive Grafton, OH.
What is the asking price?
The asking price for this property is $695,000.
What are key features of this property?
This property features: 8,400 SF building with 2,400 SF of office and 6,000 SF of warehouse space; 1.48‑acre site with yard and storage space; One dock door and one drive‑in door
