Industrial Flex Facility with
For Sale
$749,900
1104 Andrews Ave, Youngstown, OH 44505
Two-building industrial site includes finished office space, 18-foot ceilings, and overhead doors for flexible manufacturing and storage.
Property Size17,604 SF
Price / SF$42.60
Days on Market74
Property Features for 1104 Andrews Ave
General Information
Standard status
Active
Size
17,604 SF
Warehouse & Industrial
Clear Height
18 ft
Drive-In Doors
2
Additional Details
Business Included
Yes
Fenced Yard
Yes
Taxes and HOA fees
Annual Taxes
$3,190
Building Details
Tenancy
Multi
Listing Agency:
Berkshire Hathaway HomeServices Stouffer Realty
(330) 360-1168
Listed By:
Christina Circle
(330) 360-1168
Source:
Exprealty
Added: Jun 10
Changed: Aug 20
Last Checked: Aug 21 at 11:33AM
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 Berkshire Hathaway HomeServices Stouffer Realty
Investment Insights
Based on property information with market context.
This for-sale industrial flex property includes 17,604 square feet of warehouse, light manufacturing, and industrial space, along with 1,900 square feet of finished office space on the upper level of building one. The buildings sit on a fully fenced site designed for operational security and straightforward access between buildings, with parking space available between the two structures. Building one is equipped with 18-foot ceilings and 14-foot overhead doors with a docking area, plus two commercial cranes. Building two includes additional space and features a manual crane. The property also includes three bathrooms and is offered with additional equipment to remain with the facility.
The site consists of two buildings and is configured to support multiple uses under one ownership. Current occupancy includes a commercial painting company, with additional tenants using space for auto detailing and vehicle storage and equipment.
Designed for operators that need both working industrial space and on-site office functionality, the facility’s office buildout, ceiling height, overhead doors, docking area, and crane equipment provide a practical foundation for light manufacturing, industrial services, and warehouse storage. The existing multi-tenant layout and current mix of vehicle- and shop-oriented uses may support a range of industrial tenant needs, whether for continued tenancy or owner-occupant operations.
The site consists of two buildings and is configured to support multiple uses under one ownership. Current occupancy includes a commercial painting company, with additional tenants using space for auto detailing and vehicle storage and equipment.
Designed for operators that need both working industrial space and on-site office functionality, the facility’s office buildout, ceiling height, overhead doors, docking area, and crane equipment provide a practical foundation for light manufacturing, industrial services, and warehouse storage. The existing multi-tenant layout and current mix of vehicle- and shop-oriented uses may support a range of industrial tenant needs, whether for continued tenancy or owner-occupant operations.
Key Highlights
- Two‑building industrial property totaling 17,604 SF with warehouse, light manufacturing, and industrial space
- Includes 1,900 SF finished office on the upper level of building 1, plus 3 bathrooms throughout the property
- 18‑ft ceilings and 14‑ft overhead doors with a docking area
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
$68,656
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
9.16%
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%
$1,373,120
$1.4M
Cap Rate 7%
$980,800
$980.8K
Cap Rate 9%
$762,844
$762.8K
Market Conditions
NOI Build-Up for 17,604 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
$105.6K $6.00/SF
− Vacancy
$0 $0.00/SF
EGI
$105.6K $6.00/SF
− OpEx
−$37.0K −$2.10/SF
NOI
$68.7K $3.90/SF
Area
Mahoning County, OH
Vacancy
0.00%
Lease Rate
$6.00 /SF/Yr
Expense Ratio
35.00%
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%
$1,373,120
Cap Rate 7%
$980,800
Cap Rate 9%
$762,844
Alternative Uses
Best Use
Warehouse
$1.25M
$1.10M – $1.46M
NOI $87,839 @ 7.0% cap · market cap 11.71%
Second Best
Industrial
$1.03M
$904.2K – $1.21M
NOI $72,338 @ 7.0% cap · market cap 9.65%
Theoretical Best
Office A
$3.32M
$2.91M – $3.88M
NOI $232,542 @ 7.0% cap · market cap 31.01%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
18 ft
Clear height
2
Drive-in doors
Multi-tenant
Tenancy
Turnkey business
Opportunity
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
326
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 44505, OH
17,048
Population
7,524
Households
2.3
Avg Household Size
39
Median Age
17%
College-Educated
86%
High-School Grad
18.0 sq mi
ZIP Area
947
Density / Sq Mi
$36,480
Median Household Income
$28,270
Median Earnings
$644
Median Rent
$82,100
Median Home Value
Market
Vacancy Rate% for Industrial in Midwest region
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Frequently Asked Questions
What type of property is this?
Flex space - Two-building industrial site includes finished office space, 18-foot ceilings, and overhead doors for flexible manufacturing and storage.
Where is this flex space located?
The property is located at 1104 Andrews Ave Youngstown, OH.
What is the asking price?
The asking price for this property is $749,900.
What are key features of this property?
This property features: Two‑building industrial property totaling 17,604 SF with warehouse, light manufacturing, and industrial space; Includes 1,900 SF finished office on the upper level of building 1, plus 3 bathrooms throughout the property; 18‑ft ceilings and 14‑ft overhead doors with a docking area
