Industrial Warehouse with
For Sale
$875,000
135 Kensington Avenue, Zanesville, OH 43701
Industrial warehouse with dedicated office space, fenced yard, 3-phase power, and multiple drive-in doors.
Property Size11,500 SF
Lot Size1.25 Acres
Price / SF$79.52
Days on Market43
Property Features for 135 Kensington Avenue
General Information
Standard status
Active
Size
11,500 SF
Lot size
1.25 Acres
Property subtype
Industrial
Site & Location
Highway Access
Yes
Fenced Yard
Yes
Warehouse & Industrial
Drive-In Doors
7
Heavy Power
Yes
Amenities
dedicated office space
Building Details
Building Size
11,500 SF
Year Built
1950
Listed By:
Joseph Gebhart
(740) 334-2863
Source:
Shai-hess
Added: Jul 24
Changed: Sep 4
Last Checked: Sep 1 at 10:43PM
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 Joseph Gebhart
Investment Insights
Based on property information with market context.
This industrial warehouse property includes dedicated office space and a fenced, secured area for controlled operations. The facility is supported by 3-phase electric power and offers a total building area of 7,932 SF plus an additional 3,072 SF, with clear heights of 15’ and 12’6”, respectively. Shipping and receiving is supported by seven drive-in doors, including three 14’ doors, three 12’ doors, and one 8’ door.
The property sits on approximately 1.25 acres and provides convenient access to major transportation routes. It is positioned to support warehousing, manufacturing, or service-related operations requiring both office space and robust loading capacity.
The layout combines office space with warehouse areas designed for higher-clearance storage and flexible facility use within the secured yard setting.
The property sits on approximately 1.25 acres and provides convenient access to major transportation routes. It is positioned to support warehousing, manufacturing, or service-related operations requiring both office space and robust loading capacity.
The layout combines office space with warehouse areas designed for higher-clearance storage and flexible facility use within the secured yard setting.
Key Highlights
- Industrial building totaling 7,932 SF with 15' clear height plus 3,072 SF with 12'6" clear height
- Seven drive‑in doors: three 14', three 12', and one 8' door
- Dedicated office space included for on‑site operations
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
$68,057
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
7.78%
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%
$1,361,140
$1.4M
Cap Rate 7%
$972,243
$972.2K
Cap Rate 9%
$756,189
$756.2K
Market Conditions
NOI Build-Up for 11,004 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
$104.3K $9.48/SF
− Vacancy
−$7.1K −$0.64/SF
EGI
$97.2K $8.84/SF
− OpEx
−$29.2K −$2.65/SF
NOI
$68.1K $6.18/SF
Area
Muskingum County, OH
Vacancy
6.80%
Lease Rate
$9.48 /SF/Yr
Expense Ratio
30.00%
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%
$1,361,140
Cap Rate 7%
$972,243
Cap Rate 9%
$756,189
Alternative Uses
Best Use
Warehouse
$1.18M
$1.03M – $1.38M
NOI $82,641 @ 7.0% cap · market cap 9.44%
Second Best
Industrial
$972.2K
$850.7K – $1.13M
NOI $68,057 @ 7.0% cap · market cap 7.78%
Theoretical Best
Office A
$2.39M
$2.09M – $2.79M
NOI $167,183 @ 7.0% cap · market cap 19.11%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
7
Drive-in doors
Yes
Heavy power
Yes
Fenced yard
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
152
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 43701, OH
55,361
Population
25,785
Households
2.1
Avg Household Size
42
Median Age
18%
College-Educated
90%
High-School Grad
180.5 sq mi
ZIP Area
307
Density / Sq Mi
$54,900
Median Household Income
$34,345
Median Earnings
$819
Median Rent
$164,200
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
- Store N Go Self Storage Zanesville OH — 2113 Greenhouse Rd, Zanesville, OH 43701
- 5 Points Rentals — 104 S Maysville Ave, Zanesville, OH 43701
- Hidey Hole Mini Storage — 210 E Main St, Zanesville, OH 43701
- Pembroke Storage — 60 E Berkley St, South Zanesville, OH 43701
Frequently Asked Questions
What type of property is this?
Warehouse - Industrial warehouse with dedicated office space, fenced yard, 3-phase power, and multiple drive-in doors.
Where is this warehouse located?
The property is located at 135 Kensington Avenue Zanesville, OH.
What is the asking price?
The asking price for this property is $875,000.
What are key features of this property?
This property features: Industrial building totaling 7,932 SF with 15' clear height plus 3,072 SF with 12'6" clear height; Seven drive‑in doors: three 14', three 12', and one 8' door; Dedicated office space included for on‑site operations
