Building Details

Year Built 1958

Buildings 1

Building Size 81,640 SF

Listing Agency: CBRE | Cleveland Show Phone

Listed By: Mike Petrigan, SIOR Show Phone

Source: Moodyscre

Added: Apr 29, 2025 Changed: Oct 25 Last Checked: Oct 28 at 10:23AM

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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 CBRE | Cleveland

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Investment Insights

Based on property information with market context.

A 81,640 SF industrial truck terminal built in 1958 offering 2 docks and 6 drive-in doors. The facility includes 18’ clear height and 9,360 SF of office space, set on 38.3 acres of land.

The property sits right off Baumhart Road with 664’ of frontage. It is located about 1.2 miles to Route 2 and 3.6 miles to I-90, positioned between Cleveland and Toledo.

The site is zoned for Heavy Industrial (I-2) and is part of the City of Lorain’s Community Reinvestment Area (Area 4).

Key Highlights

• 81,640 SF industrial truck terminal on 38.3 acres at 7451 Terminal Drive.
• Truck terminal built in 1958 with 2 docks and 6 drive‑ins.
• 18' clear height industrial space.

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$308,417

Cap Rate

8.22%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$6,168,340 $6.2M

Cap Rate 7%

$4,405,957 $4.4M

Cap Rate 9%

$3,426,856 $3.4M

Is this asking price fair?

Market Conditions

NOI Build-Up for 81,640 SF

Gross rent

$458.0K $5.61/SF

− Vacancy

−$17.4K −$0.21/SF

EGI

$440.6K $5.40/SF

− OpEx

−$132.2K −$1.62/SF

NOI

$308.4K $3.78/SF

Area

Lorain County, OH

Vacancy

3.80%

Lease Rate

$5.61 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$6,168,340

Cap Rate 7%

$4,405,957

Cap Rate 9%

$3,426,856

Alternative Uses

Best Use

Warehouse

$5.35M

$4.68M – $6.24M (±1% cap)

NOI $374,507 @ 7.0% cap · market cap 9.99%

Second Best

Industrial

$4.41M

$3.86M – $5.14M (±1% cap)

NOI $308,417 @ 7.0% cap · market cap 8.22%

Theoretical Best

Office A

$20.57M

$18.00M – $24.00M (±1% cap)

NOI $1,440,130 @ 7.0% cap · market cap 38.40%

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

Open Analytics

Current Use

Storage Rak Storage Facility

Suggested Use

Top Pick Parking Lot & Garage Electrical Service Building Supply Auto Parts Store Garden Center (Bike/Boat/Book/etc) Store

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

Lease Details

18 ft

Clear height

2

Dock-high doors

6

Drive-in doors

Yes

Paved road access

Location Intelligence

Trade Area within ½ mile

547

Businesses Nearby

Explore this area Business Placement

Demographics for 44053, OH

20,735

Population

9,529

Households

2.2

Avg Household Size

44

Median Age

21%

College-Educated

91%

High-School Grad

10.8 sq mi

ZIP Area

1,920

Density / Sq Mi

$65,332

Median Household Income

$43,654

Median Earnings

$827

Median Rent

$189,500

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

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Frequently Asked Questions

What type of property is this?

Truck terminal - Industrial truck terminal on 38.3 acres with two docks, six drive-ins, 18' clear height, and 9,360 SF offices.

Where is this truck terminal located?

The property is located at 7451 Terminal Dr Lorain, OH.

What is the asking price?

The asking price for this property is $3,750,000.

What are key features of this property?

This property features: 81,640 SF industrial truck terminal on 38.3 acres at 7451 Terminal Drive.; Truck terminal built in 1958 with 2 docks and 6 drive‑ins.; 18' clear height industrial space.