Listing Agency: Hoff & Leigh Fairlawn c***@hoffleigh.com Show Phone

Listed By: Cole Kroneker · License #SAL.2024000334

Source: Crexi

Added: Mar 23 Changed: Aug 10 Last Checked: Aug 12 at 4:16AM

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Investment Insights

Based on property information with market context.

This light-industrial property is suitable for owner-users or service-based businesses needing warehouse functionality and a professional office or showroom. The 6,000 square foot warehouse area features an 18-foot clear height and two 12-foot by 14-foot drive-in doors, accommodating equipment storage, fabrication, and vehicle access. The 2,400 square foot office and showroom component provides adaptable space for administrative operations, client meetings, product display, or overflow storage. The property includes 3-phase power and gas service, with optional connectivity to municipal water and sewer. A gated and fenced rear yard offers secure outdoor storage on the 2.01-acre lot. The property has expansion potential for an additional 30,000 square feet.

Key Highlights

• 6,000 SF warehouse with 18‑foot clear height
• 2,400 SF office and showroom space
• Gated and fenced 2.01‑acre rear yard for secure outdoor storage

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

$40,093

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

5.17%

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%

$801,860 $801.9K

Cap Rate 7%

$572,757 $572.8K

Cap Rate 9%

$445,478 $445.5K

Market Conditions

NOI Build-Up for 8,400 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

$50.2K $5.98/SF

− Vacancy

−$3.1K −$0.36/SF

EGI

$47.2K $5.62/SF

− OpEx

−$7.1K −$0.84/SF

NOI

$40.1K $4.77/SF

Area

Portage County, OH

Vacancy

6.10%

Lease Rate

$5.98 /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%

$801,860

Cap Rate 7%

$572,757

Cap Rate 9%

$445,478

Alternative Uses

Best Use

Warehouse

$572.8K

$501.2K – $668.2K (±1% cap)

NOI $40,093 @ 7.0% cap · market cap 5.17%

Second Best

Industrial

$471.7K

$412.7K – $550.3K (±1% cap)

NOI $33,017 @ 7.0% cap · market cap 4.26%

Theoretical Best

Office A

$1.69M

$1.48M – $1.97M (±1% cap)

NOI $118,438 @ 7.0% cap · market cap 15.28%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Property Profile

Current Use

Flex space

Suggested Use

Top Pick HVAC Service Building Supply Auto Repair Shop Garden Center Grocery & Convenience Store Kitchen & Bath Showroom

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

68

Businesses Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Demographics for 44255, OH

7,558

Population

3,148

Households

2.4

Avg Household Size

47

Median Age

25%

College-Educated

89%

High-School Grad

42.7 sq mi

ZIP Area

177

Density / Sq Mi

$74,221

Median Household Income

$43,702

Median Earnings

$875

Median Rent

$180,300

Median Home Value

Market

Vacancy Rate% for Industrial in Midwest region

4.4% 2019

4.9% 2020

3.6% 2021

3.1% 2022

4.6% 2023

5% 2024

4.9% 2025

Questions? Ask Rey

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Frequently Asked Questions

What type of property is this?

Flex space - 8,400 SF light-industrial property with office and warehouse space.

Where is this flex space located?

The property is located at 11806 Timber Point Trail Mantua, OH.

What is the asking price?

The asking price for this property is $775,000.

What are key features of this property?

This property features: 6,000 SF warehouse with 18‑foot clear height; 2,400 SF office and showroom space; Gated and fenced 2.01‑acre rear yard for secure outdoor storage