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    Industrial Land on Rt. 422 Title is generated by Realmo AI

    12676 Main Market Road, Burton, OH 44021

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    For Sale
    $2,000,000

    64+ acres of industrial land with tax abatement opportunity.

    Type:Commercial/Industrial
    Lot size:
    64.00 Acres
    Added:
    Apr 28, 2025
    Days on Market:
    399
    Last Refresh:
    May 28 at 9:56 pm

    Property Features for 12676 Main Market Road

    General Information

    Standard status
    Active
    Lot size
    64.00 Acres
    Property subtype
    Commercial/Industrial

    Building Details

    Year Built
    1893

    We can help!

    Listing Contact
    Joseph A Zingales
    Joseph A Zingales

    Listing agent Joseph A Zingales License #2013000048

    Listing office Berkshire Hathaway HomeServices Professional Realty

    Listing date Apr 28, 2025

    Source Exitrealty

    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 Berkshire Hathaway HomeServices Professional Realty

    HighLights

    • Up to 64 acres of industrial land with 848 ft. frontage on Rt. 422
    • Potential for up to 15‑year Community Revitalization Area (CRA) tax abatement
    • Located across from Great Lakes Industrial Parkway and close to I‑80 Turnpike
    • Zoned M1 General Industry with 3 city sewer manholes and natural gas on the property
    • High traffic count (14,859 vehicles per day) and traffic light access on Rt. 422
    • Located within a 700‑mile radius of 2/3rds of the population of the US and Canada

    Overview

    This property features over 64 acres of industrial land with 848 feet of frontage on Route 422, situated across from the Great Lakes Industrial Parkway. Zoned M1 General Industry, the site offers potential for various uses, including a corporate office complex, light industrial facility, gas station, rehab or care facility, light industries, or a distribution center. Natural gas is available on the property, and there are three city sewer manholes for easy access. A traffic light is located at the east end of the property on Route 422, along with a turning lane at an existing industrial park. The location is within a 700-mile radius of two-thirds of the population of the US and Canada and is close to the I-80 Turnpike. The property is less than 25 minutes from downtown Cleveland and offers access to five airports within a 20 to 45-minute freeway drive. Currently, the property includes three residential rental incomes, a large barn, and two horse walking stalls. A Community Revitalization Area (CRA) tax abatement is available for a limited time, offering up to a 14% tax break over 15 years on new buildings. A property tax discount is also available for qualified forestry. The traffic count is 14,859 vehicles per day.
    Location Intelligence

    Current Use by Public Records

    Industrial land

    Suggested Use

    Restaurant Building Supply Department Store Storage Facility Bar & Pub Veterinary Clinic Home Appliance Store Plumbing Service

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

    Location Insight

    • Map
    • Local Demand
    City
    Burton
    County
    Portage
    State
    Ohio
    Longitude
    -81.183324
    Latitude
    41.3905668

    Nearby Similar for Sale

    • $2,000,000

      64+ Acres Industrial Land Available

      Industrial land with tax abatement potential near major transportation routes.
      12676 Main Market Road, Burton, OH 44021
      View Details
    • $195,000

      6.5 Acres Wooded Land Parcel

      6.5-acre wooded parcel near downtown Burton, Ohio.
      VL Garden Street, Burton, OH 44021
      View Details

    FAQs

    What type of property is this?
    Industrial land - 64+ acres of industrial land with tax abatement opportunity.
    Where is this industrial land located?
    The property is located at 12676 Main Market Road Burton, OH.
    What is the asking price?
    The asking price for this property is $2,000,000.
    What are key features of this property?
    This property features: Up to 64 acres of industrial land with **848 ft. frontage on Rt. 422**; Potential for up to **15‑year Community Revitalization Area (CRA) tax abatement**; Located across from Great Lakes Industrial Parkway and close to I‑80 Turnpike
    (440) 346-2031
    We can help!
    Listing Contact
    Joseph A Zingales
    Joseph A Zingales
    Real Estate License ID: 2013000048
    Learn More
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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
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