Warehouse with Loading
For Sale
Contact for pricing
1050 Sunnyside Rd, Vermilion, OH 44089
Sprinklered industrial building with dedicated parking and separate dock-high and drive-in access.
Property Size12,000 SF
Lot Size1.80 Acres
Price / SF$74
Days on Market143
Property Features for 1050 Sunnyside Rd
General Information
Standard status
Active
Size
12,000 SF
Class
C
Lot size
1.80 Acres
Property subtype
Industrial
Warehouse & Industrial
Dock-High Doors
1
Drive-In Doors
1
Sprinkler System
Yes
Building Details
Year Built
2000
Buildings
1
Stories
1
Units
1
Listing Agency:
Russell Commercial Advisory
(216) 233-4459
Listed By:
Michael Pasadyn Jr · License #OH 2018001645
Source:
Crexi
Added: Apr 10
Changed: Aug 30
Last Checked: Aug 30 at 11:55AM
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 Russell Commercial Advisory
Investment Insights
Based on property information with market context.
Located at 1050 Sunnyside Rd in Vermilion, Ohio, this warehouse property includes 12,000 square feet of industrial space on 1.8 acres. The building was constructed in 2000 and provides one dock-high door plus one drive-in door for receiving, shipping, and equipment access.
A full sprinkler system serves the facility, and a dedicated on-site parking lot is included. The property is suited to storage, distribution, and light industrial operations, with the combination of warehouse space, loading access, paved parking, and acreage supporting a range of commercial uses.
A full sprinkler system serves the facility, and a dedicated on-site parking lot is included. The property is suited to storage, distribution, and light industrial operations, with the combination of warehouse space, loading access, paved parking, and acreage supporting a range of commercial uses.
Key Highlights
- 12,000 SF warehouse on 1.8 acres
- One dock‑high door and one drive‑in door
- Full sprinkler system
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
$59,877
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
6.65%
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%
$1,197,540
$1.2M
Cap Rate 7%
$855,386
$855.4K
Cap Rate 9%
$665,300
$665.3K
Market Conditions
NOI Build-Up for 12,000 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
$76.9K $6.41/SF
− Vacancy
−$6.5K −$0.54/SF
EGI
$70.4K $5.87/SF
− OpEx
−$10.6K −$0.88/SF
NOI
$59.9K $4.99/SF
Area
Erie County, OH
Vacancy
8.42%
Lease Rate
$6.41 /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%
$1,197,540
Cap Rate 7%
$855,386
Cap Rate 9%
$665,300
Alternative Uses
Best Use
Warehouse
$855.4K
$748.5K – $998.0K
NOI $59,877 @ 7.0% cap · market cap 6.65%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$132.06M
$115.55M – $154.07M
NOI $9,244,112 @ 7.0% cap · market cap 1,027.12%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Dock-high doors
1
Drive-in doors
Yes
Sprinkler system
Location Intelligence
Trade Area within ½ mile
18
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 44089, OH
15,899
Population
8,012
Households
2
Avg Household Size
50
Median Age
29%
College-Educated
93%
High-School Grad
34.6 sq mi
ZIP Area
460
Density / Sq Mi
$72,045
Median Household Income
$43,836
Median Earnings
$1,102
Median Rent
$197,900
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 - Sprinklered industrial building with dedicated parking and separate dock-high and drive-in access.
Where is this warehouse located?
The property is located at 1050 Sunnyside Rd Vermilion, OH.
What is the asking price?
The asking price for this property is $899,999.
What are key features of this property?
This property features: 12,000 SF warehouse on 1.8 acres; One dock‑high door and one drive‑in door; Full sprinkler system
