Light Industrial Machine
For Sale
$135,000
1108-1 /2 Milan St N, Canal Fulton, OH 44614
The building includes shop space, offices, a restroom, and a kitchen.
Property Size3,360 SF
Lot Size5.31 Acres
Price / SF$40.18
Days on Market31
Property Features for 1108-1 /2 Milan St N
General Information
Standard status
Active
Size
3,360 SF
Lot size
5.31 Acres
Zoning
Light Industrial
Property Condition
Severity
Repairs Needed
Evidence
needs revamped
Building Details
Year Built
1960
Building Size
3,360 SF
Listing Agency:
Kiko
(330) 206-0174
Listed By:
Jack W Kiko · License #2003007797
Source:
Theacclaimedrealty
Added: Jul 31
Changed: Aug 29
Last Checked: Aug 29 at 11:45PM
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 Kiko
Investment Insights
Based on property information with market context.
This 3,360-square-foot machine shop occupies 5.31 acres and was constructed in 1960. The main level combines a substantial work area with offices, a restroom, and a kitchen. Heating is provided by a gas unit in the shop, while the partial walkout basement has a gas forced-air furnace and central air conditioning.
The property carries light industrial zoning. Located at 1108-1/2 Milan St N in Canal Fulton, the building requires updating for a user’s specific requirements. The existing layout provides a practical starting point for a small shop or other owner-directed industrial use, subject to confirming zoning suitability for the intended operation.
The property carries light industrial zoning. Located at 1108-1/2 Milan St N in Canal Fulton, the building requires updating for a user’s specific requirements. The existing layout provides a practical starting point for a small shop or other owner-directed industrial use, subject to confirming zoning suitability for the intended operation.
Key Highlights
- 3,360 Sq Ft machine shop on 5.31 Acres
- Light Industrial zoning
- Built in 1960
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
$11,352
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
8.41%
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%
$227,040
$227.0K
Cap Rate 7%
$162,171
$162.2K
Cap Rate 9%
$126,133
$126.1K
Market Conditions
NOI Build-Up for 3,360 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
$16.5K $4.91/SF
− Vacancy
−$280 −$0.08/SF
EGI
$16.2K $4.83/SF
− OpEx
−$4.9K −$1.45/SF
NOI
$11.4K $3.38/SF
Area
Stark County, OH
Vacancy
1.70%
Lease Rate
$4.91 /SF/Yr
Expense Ratio
30.00%
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%
$227,040
Cap Rate 7%
$162,171
Cap Rate 9%
$126,133
Alternative Uses
Best Use
Industrial
$162.2K
$141.9K – $189.2K
NOI $11,352 @ 7.0% cap · market cap 8.41%
Second Best
—
—
no second resolved use
Theoretical Best
Retail
$877.3K
$767.6K – $1.02M
NOI $61,408 @ 7.0% cap · market cap 45.49%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
151
Businesses Nearby
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Manufacturing property - The building includes shop space, offices, a restroom, and a kitchen.
Where is this manufacturing property located?
The property is located at 1108-1 /2 Milan St N Canal Fulton, OH.
What is the asking price?
The asking price for this property is $135,000.
What are key features of this property?
This property features: 3,360 Sq Ft machine shop on 5.31 Acres; Light Industrial zoning; Built in 1960
