Warehouse with
For Sale
$1,800,000
1310 Colorado Avenue, Lorain, OH 44052
Warehouse featuring central air and storage, with additional parking on a corner lot in Lorain.
Property Size25,000 SF
Days on Market12
Property Features for 1310 Colorado Avenue
General Information
Standard status
Active
Size
25,000 SF
Zoning
See Remarks
Amenities
Cafeteria, DayCareFacility, PrivateRestrooms, Storage
Central Air
Natural Gas, Forced Air
Storage
Additional Parking, Parking Lot
Building Details
Building Size
25,000 SF
Year Built
1972
Listing Agency:
Coldwell Banker Schmidt Realty
(440) 570-9514
Listed By:
Leilani M Bowersock · License #2005015619
(440) 570-9514
Source:
Evrealestate
Added: Jul 29
Changed: Aug 8
Last Checked: Aug 9 at 7:58AM
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 Coldwell Banker Schmidt Realty
Investment Insights
Based on property information with market context.
This warehouse at 1310 Colorado Avenue includes storage and is served by central air conditioning. Heating is provided by natural gas, forced-air systems. The property does not include a basement, supporting a straightforward single-level layout.
Located on the corner of Colorado Avenue and Iowa Avenue in Lorain, Ohio, the site includes additional parking and a parking lot for tenant and customer convenience.
Located on the corner of Colorado Avenue and Iowa Avenue in Lorain, Ohio, the site includes additional parking and a parking lot for tenant and customer convenience.
Key Highlights
- Warehouse with storage
- Central air conditioning
- Natural gas forced‑air heating
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
$114,682
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
6.37%
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%
$2,293,640
$2.3M
Cap Rate 7%
$1,638,314
$1.6M
Cap Rate 9%
$1,274,244
$1.3M
Market Conditions
NOI Build-Up for 25,000 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
$140.3K $5.61/SF
− Vacancy
−$5.3K −$0.21/SF
EGI
$134.9K $5.40/SF
− OpEx
−$20.2K −$0.81/SF
NOI
$114.7K $4.59/SF
Area
Lorain County, OH
Vacancy
3.80%
Lease Rate
$5.61 /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%
$2,293,640
Cap Rate 7%
$1,638,314
Cap Rate 9%
$1,274,244
Alternative Uses
Best Use
Warehouse
$1.64M
$1.43M – $1.91M
NOI $114,682 @ 7.0% cap · market cap 6.37%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$6.30M
$5.51M – $7.35M
NOI $441,000 @ 7.0% cap · market cap 24.50%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
388
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 44052, OH
29,249
Population
13,673
Households
2.1
Avg Household Size
37
Median Age
12%
College-Educated
83%
High-School Grad
9.5 sq mi
ZIP Area
3,079
Density / Sq Mi
$42,298
Median Household Income
$31,985
Median Earnings
$840
Median Rent
$104,000
Median Home Value
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- One Stop Self Storage — 1657 Broadway, Lorain, OH 44052
- Carmeuse Lorain Dock Operation — 1840 Idaho Ave, Lorain, OH 44052
Frequently Asked Questions
What type of property is this?
Warehouse - Warehouse featuring central air and storage, with additional parking on a corner lot in Lorain.
Where is this warehouse located?
The property is located at 1310 Colorado Avenue Lorain, OH.
What is the asking price?
The asking price for this property is $1,800,000.
What are key features of this property?
This property features: Warehouse with storage; Central air conditioning; Natural gas forced‑air heating
