Two-Building Industrial
12651 Elmwood Ave, Cleveland, OH 44111
For Sale
New
Contact for pricing
A sprinklered industrial property combines warehouse space with dedicated offices in its north building.
Property Size92,677 SF
Lot Size7.00 Acres
Price / SF$58.81
Days on Market7
Property Features for 12651 Elmwood Ave
General Information
Standard status
Size
Lot size
Property subtype
Zoning
Site & Location
Neighborhood
Highway Access
Warehouse & Industrial
Warehouse Space
Office Build-Out
Sprinkler System
Additional Details
Property Use
Building Details
Buildings
Listing Agency:
Edmond Hoty Real Estate
Listed By:
Edmond Hoty · License OH #700408211
(419) 433-1144
Source:
Crexi
Added: Nov 4
Changed: Nov 9
Last Checked: Nov 10 at 6:54AM
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 Edmond Hoty Real Estate
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Investment Insights
Based on property information with market context.
The property contains two industrial buildings totaling approximately 92,677 SF across approximately 7 acres. The North Building measures 54,479± SF, including 49,260± SF of warehouse area and 5,219± SF of office space. The South Building provides 38,198± SF of warehouse space. Both buildings have sprinkler systems and G-BE General Industrial zoning.
The site overlooks I-90 and includes about 2 acres with highway exposure. It is located at 12651 Elmwood Ave in Cleveland, Ohio.
The site overlooks I-90 and includes about 2 acres with highway exposure. It is located at 12651 Elmwood Ave in Cleveland, Ohio.
Key Highlights
- Two buildings totaling approximately 92,677 SF on approximately 7 acres
- North Building: 54,479± SF, with 49,260± SF of warehouse and 5,219± SF of office area
- South Building contains 38,198± SF of warehouse space
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$432,742
Cap Rate
7.94%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$8,654,840
$8.7M
Cap Rate 7%
$6,182,029
$6.2M
Cap Rate 9%
$4,808,244
$4.8M
Market Conditions
NOI Build-Up for 92,677 SF
Gross rent
$522.7K $5.64/SF
− Vacancy
−$13.6K −$0.15/SF
EGI
$509.1K $5.49/SF
− OpEx
−$76.4K −$0.82/SF
NOI
$432.7K $4.67/SF
Area
ZIP 44111
Vacancy
2.60%
Lease Rate
$5.64 /SF/Yr
Expense Ratio
15.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$8,654,840
Cap Rate 7%
$6,182,029
Cap Rate 9%
$4,808,244
Alternative Uses
Best Use
Warehouse
$6.18M
$5.41M – $7.21M
NOI $432,742 @ 7.0% cap · market cap 7.94%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$17.45M
$15.27M – $20.36M
NOI $1,221,495 @ 7.0% cap · market cap 22.41%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
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Current Use
Lease Details
Yes
Sprinkler system
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
801
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 44111, OH
41,045
Population
19,041
Households
2.2
Avg Household Size
38
Median Age
25%
College-Educated
85%
High-School Grad
6.5 sq mi
ZIP Area
6,315
Density / Sq Mi
$54,790
Median Household Income
$38,151
Median Earnings
$938
Median Rent
$130,000
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Properties on Market for Warehouses in Cleveland
Vacancy Rate% for Industrial in Cleveland, OH
Similar Off Market Nearby
- JustStorage — 13820 Lorain Ave, Cleveland, OH 44111
- Self Storage — 13038 lorain ave, cleveland, oh 44111
- Triskett Road Storage — 12610 Triskett Rd, Cleveland, OH 44111
- IncaAztec Self Storage- Berea — 12775 Berea Rd, Cleveland, OH 44111
- National Storage — 12600 Berea Rd, Lakewood, OH 44111
Frequently Asked Questions
What type of property is this?
Warehouse - A sprinklered industrial property combines warehouse space with dedicated offices in its north building.
Where is this warehouse located?
The property is located at 12651 Elmwood Ave Cleveland, OH.
What is the asking price?
The asking price for this property is $5,450,000.
What are key features of this property?
This property features: Two buildings totaling approximately 92,677 SF on approximately 7 acres; North Building: 54,479± SF, with 49,260± SF of warehouse and 5,219± SF of office area; South Building contains 38,198± SF of warehouse space
