Industrial Building with Crane
237 State Road Ashtabula, OH 44004
237 State Road, Ashtabula, OH, 44004
$425,000
For Sale
$425,000
10,452 SF industrial building featuring cranes and office space.
Property Size10,452 SF
Price / SF$40.66
Days on Market242
Property Features for 237 State Road
General Information
- Standard status
- Active
- Size
- 10,452 SF
- Property subtype
- Industrial
Building Details
- Year Built
- 1979
Listing agency
Sperry Commercial Global Affiliates Cleveland
(330) 714-4415
Listed by
Steve Masica · License #OH #2013002150
Source
Sperrycga
Added: Nov 21, 2025 Updated: Jul 6 at 8:27AM Checked: Jul 21 at 5:06AM
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 Sperry Commercial Global Affiliates Cleveland
Investment Insights
Based on property information with market context.
This 10,452 SF industrial building includes 1,872 SF of office space, featuring a conference room, two private offices, a bullpen area, a kitchenette, a locker room, and restrooms. The shop area spans 8,580 SF, complemented by an additional 1,872 SF of storage/loft area situated above the office. The shop is equipped with 3-phase power and two 5-ton cranes. Access is provided by two drive-in doors: one on the north side measuring 12' X 13', and another on the west side measuring 13' 6" X 14' 10". The property is located on State Rd., just 6 miles north of I-90 and SR 11.
Key Highlights
- 10,452 SF Industrial building
- Two 5‑ton cranes in shop
- 8,580 SF shop area with 1,872 SF storage/loft above office
Local Financial Insights For Industrial
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $52.7k | $5.04 |
| − Vacancy | −$1.1k | −$0.10 |
| EGI | $51.6k | $4.94 |
| − OpEx | −$15.5k | −$1.48 |
| NOI | $36.1k | $3.46 |
10,452 SF · lease $5.04/SF/yr · vacancy 2.00% · expense 30.00%
Alternative Uses
Best Use
Warehouse
$626.9K
$548.5K – $731.4K
NOI $43,881 @ 7.0% cap · market cap 10.32%
Second Best
Industrial
$516.2K
$451.7K – $602.3K
NOI $36,137 @ 7.0% cap · market cap 8.50%
Theoretical Best
Office A
$1.95M
$1.70M – $2.27M
NOI $136,341 @ 7.0% cap · market cap 32.08%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Refuse Equipment & Truck ...
Big Box & Wholesale Store
Similar For Sale Nearby
FAQs
What type of property is this?
Manufacturing property - 10,452 SF industrial building featuring cranes and office space.
Where is this manufacturing property located?
The property is located at 237 State Road Ashtabula, OH.
What is the asking price?
The asking price for this property is $425,000.
What are key features of this property?
This property features: 10,452 SF Industrial building; Two 5‑ton cranes in shop; 8,580 SF shop area with 1,872 SF storage/loft above office
