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    27681 Cummings Rd Millbury, OH 43447

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    For Sale
    $1,900,000

    Clean industrial facility with renovated offices and expansion potential.

    Building Details

    Year built
    2004

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    Listing Contact
    Stephanie Kuhlman
    Stephanie Kuhlman
    Source: Naiglobal

    Listing Agent: Stephanie Kuhlman

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    Millbury Industrial Facility on 17 Acres

    The property features a clean shop area and renovated office spaces completed in 2021. It includes multiple restrooms with showers, kitchen and break rooms, private offices, and large open areas. The shop area has 20' ceilings and three 14 X 16 overhead doors, floor drains, a 600 amp 3 phase power supply, an 80-gallon air compressor, and gas radiant heat. Additional amenities include two washer and dryer hookups and laminate hardwood flooring in the office, lounge, and breakroom areas. A new roof was installed in 2008. The building is located at 27681 Cummings Road in Millbury, Ohio, immediately off 795 between I-75 and I-280, 5 miles East of I-75 and the I-80/90 Ohio Turnpike and 1.2 miles West of I-280. The property sits on a 17-acre site, split from a larger parcel, with an additional 13 acres available and contiguous acreage also available. Access is provided by a paved drive off Cummings Road, just south of SR 795. There is a large asphalt parking lot with a concrete trailer drop area. The grounds are well-manicured and offer excellent visibility from SR 795. Five acres are groomed, and the remaining 12 acres are currently farmed.
    Location Intelligence

    Current Use by Public Records

    Tri-State Expedited Service, ... Trucking Company

    Suggested Use

    Real Estate Agency Big Box & Wholesale Store Auto Repair Shop Auto Parts Store Storage Facility HVAC Service Electronics & Wireless Store Daycare Center Parking Lot & Garage

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Millbury
    County
    Wood
    State
    Ohio
    Longitude
    -83.483985
    Latitude
    41.552452

    Nearby Similar for Sale

    • $1,900,000
      11,700 SF

      Clean Shop on 17 Acres

      Renovated shop with office space on 17 acres.
      27681 Cummings Rd, Millbury, OH 43447
      View Details
    • $485,000
      5,838 SF

      Turnkey Catering Business & Building

      Established Catering Business, Real Estate Included
      1460 Woodville Rd, Millbury, OH 43447
      View Details

    FAQs

    What type of property is this?
    Flex space - Clean industrial facility with renovated offices and expansion potential.
    Where is this flex space located?
    The property is located at 27681 Cummings Rd Millbury, OH.
    What is the asking price?
    The asking price for this property is $1,900,000.
    What are key features of this property?
    This property features: - Excellent location immediately off 795 between I-75 and I-280, with high visibility.; - Spacious shop area with **20' ceilings, three 14 X 16 overhead doors**, floor drains, and gas radiant heat.; - **600 amp 3 phase power** and 80 gallon air compressor.
    (419) 351-1146
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    27681 Cummings Rd Millbury, OH 43447
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    27681 Cummings Rd Millbury, OH 43447
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    We can help!
    Listing Contact
    Stephanie Kuhlman
    Stephanie Kuhlman
    Real Estate License ID: #SAL.2012001174
    (419) 351-1146 (419) 960-4410
    Learn more
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