Flex Space with On-Site
For Sale
Contact for pricing
1109-1139 Bowers NW, New Philadelphia, OH 44663
Mostly sprinklered flex space with over 400 on-site parking spaces and triple-net lease structure.
Property Size112,586 SF
Price / SF$43.52
Days on Market224
Property Features for 1109-1139 Bowers NW
General Information
Standard status
Active
Size
112,586 SF
Property subtype
INDUSTRIAL
Additional Details
Sprinkler System
Yes
Listing Agency:
Putman Properties, Inc
(330) 498-4400
Listed By:
Saylor Putman · License ##BRKP.2024002388
(330) 495-8292
Source:
Moodyscre
Added: Feb 1
Changed: Aug 15
Last Checked: Sep 13 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 Putman Properties, Inc
Investment Insights
Based on property information with market context.
This flex space property offers a mix of retail, office, service, and warehouse/distribution space within a mostly sprinklered building totaling 112,586 square feet. The property features over 400 free parking spaces on site.
Most leases are triple net, with tenants reimbursing the landlord for their pro rata share of real estate taxes, insurance, and operating expenses. The property is professionally managed.
Join Wayne Dalton, Dee's Restaurant, and Iglesia Evangelica Penta Cristo Viene Church at the property. For sale inquiry and details on current tenants and financials, contact the agent.
Most leases are triple net, with tenants reimbursing the landlord for their pro rata share of real estate taxes, insurance, and operating expenses. The property is professionally managed.
Join Wayne Dalton, Dee's Restaurant, and Iglesia Evangelica Penta Cristo Viene Church at the property. For sale inquiry and details on current tenants and financials, contact the agent.
Key Highlights
- 112,586 SF flex space with a mix of retail, office, service, and warehouse/distribution space
- Over 400 free parking spaces on site
- Mostly sprinklered building
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
$448,556
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
9.15%
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%
$8,971,120
$9.0M
Cap Rate 7%
$6,407,943
$6.4M
Cap Rate 9%
$4,983,956
$5.0M
Market Conditions
NOI Build-Up for 112,586 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
$567.4K $5.04/SF
− Vacancy
−$39.7K −$0.35/SF
EGI
$527.7K $4.69/SF
− OpEx
−$79.2K −$0.70/SF
NOI
$448.6K $3.98/SF
Area
Tuscarawas County, OH
Vacancy
7.00%
Lease Rate
$5.04 /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%
$8,971,120
Cap Rate 7%
$6,407,943
Cap Rate 9%
$4,983,956
Alternative Uses
Best Use
Flex RnD
$9.79M
$8.56M – $11.42M
NOI $685,149 @ 7.0% cap · market cap 13.98%
Second Best
Warehouse
$6.41M
$5.61M – $7.48M
NOI $448,556 @ 7.0% cap · market cap 9.15%
Theoretical Best
Office A
$20.98M
$18.36M – $24.48M
NOI $1,468,626 @ 7.0% cap · market cap 29.97%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Yes
Sprinkler system
Location Intelligence
Trade Area within ½ mile
659
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 44663, OH
25,601
Population
11,702
Households
2.2
Avg Household Size
43
Median Age
21%
College-Educated
91%
High-School Grad
96.2 sq mi
ZIP Area
266
Density / Sq Mi
$62,383
Median Household Income
$36,495
Median Earnings
$859
Median Rent
$177,100
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Mostly sprinklered flex space with over 400 on-site parking spaces and triple-net lease structure.
Where is this flex space located?
The property is located at 1109-1139 Bowers NW New Philadelphia, OH.
What is the asking price?
The asking price for this property is $4,900,000.
What are key features of this property?
This property features: 112,586 SF flex space with a mix of retail, office, service, and warehouse/distribution space; Over 400 free parking spaces on site; Mostly sprinklered building
