Turnkey Industrial Fabrication
For Sale
$1,400,000
1405 & 1457 E 39th Street, Cleveland, OH 44114
Contiguous two-building industrial portfolio with multiple cranes, drive-in and dock doors, and heated shop space.
Property Size26,418 SF
Days on Market162
Property Features for 1405 & 1457 E 39th Street
General Information
Standard status
Active
Size
26,418 SF
Property subtype
Industrial - Manufacturing
Building Details
Building Size
26,418 SF
Year Built
1931
Listing Agency:
eXp Commercial
Listed By:
Kas Filippova · License #2020006531
(360) 685-4206
Source:
Commercialcafe
Added: May 14
Changed: Oct 17
Last Checked: Oct 20 at 5:32PM
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 eXp Commercial
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Investment Insights
Based on property information with market context.
Offered together as a single portfolio, 1405 and 1457 E. 39th Street provide a contiguous two-building industrial setup totaling approximately 26,418 SF on 1.70 acres. The properties have long operated as an elevator fabrication facility, with fabrication infrastructure remaining in place, including in-place 2-ton, 5-ton, and 2,500 lb. cranes, multi-voltage electrical service, gas service, and heated shop space.
1457 E. 39th Street is a 17,018 SF masonry/concrete-block building built in 1962 with 20’ clear height, two 14’ x 14’ drive-in doors, one 12’ x 10’ dock door with leveler, and a 2,500 lb. crane on a 0.60-acre site. 1405 E. 39th Street is a 9,400 SF masonry/concrete-block building (~1931) with 18’ clear height, two 14’ x 14’ drive-in doors, a sealed concrete slab, and 2-ton and 5-ton cranes on a 1.10-acre fenced site with outdoor storage and yard flexibility.
Recent capital improvements include new TPO roof systems on both buildings (2025), replaced shop heaters (2025), and serviced office HVAC (2025). The operating business, Architectural Products Development, Inc. (APD), is sold separately from the real estate.
1457 E. 39th Street is a 17,018 SF masonry/concrete-block building built in 1962 with 20’ clear height, two 14’ x 14’ drive-in doors, one 12’ x 10’ dock door with leveler, and a 2,500 lb. crane on a 0.60-acre site. 1405 E. 39th Street is a 9,400 SF masonry/concrete-block building (~1931) with 18’ clear height, two 14’ x 14’ drive-in doors, a sealed concrete slab, and 2-ton and 5-ton cranes on a 1.10-acre fenced site with outdoor storage and yard flexibility.
Recent capital improvements include new TPO roof systems on both buildings (2025), replaced shop heaters (2025), and serviced office HVAC (2025). The operating business, Architectural Products Development, Inc. (APD), is sold separately from the real estate.
Key Highlights
- Contiguous two‑building industrial portfolio at 1405 and 1457 E. 39th St totaling approx. 26,418 SF on 1.70 acres
- Fabrication setup in place for heavy‑load work, including in‑place cranes: 2‑ton, 5‑ton, and 2,500 lb
- 1457 E. 39th St: 17,018 SF masonry/concrete‑block building (1962) with 20’ clear height, two 14’x14’ drive‑in doors, one 12’x10’ dock door with leveler
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$108,535
Cap Rate
7.75%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,170,700
$2.2M
Cap Rate 7%
$1,550,500
$1.6M
Cap Rate 9%
$1,205,944
$1.2M
Market Conditions
NOI Build-Up for 26,418 SF
Gross rent
$161.7K $6.12/SF
− Vacancy
−$6.6K −$0.25/SF
EGI
$155.0K $5.87/SF
− OpEx
−$46.5K −$1.76/SF
NOI
$108.5K $4.11/SF
Area
Cleveland, OH
Vacancy
4.10%
Lease Rate
$6.12 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,170,700
Cap Rate 7%
$1,550,500
Cap Rate 9%
$1,205,944
Alternative Uses
Best Use
Industrial
$1.55M
$1.36M – $1.81M
NOI $108,535 @ 7.0% cap · market cap 7.75%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$6.45M
$5.64M – $7.52M
NOI $451,279 @ 7.0% cap · market cap 32.23%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
1,459
Businesses Nearby
Explore this area
Business Placement
Demographics for 44114, OH
7,622
Population
5,151
Households
1.5
Avg Household Size
32
Median Age
47%
College-Educated
85%
High-School Grad
3.0 sq mi
ZIP Area
2,541
Density / Sq Mi
$45,400
Median Household Income
$39,915
Median Earnings
$1,296
Median Rent
$112,900
Median Home Value
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Market
Vacancy Rate% for Industrial in Cleveland, OH
Frequently Asked Questions
What type of property is this?
Manufacturing property - Contiguous two-building industrial portfolio with multiple cranes, drive-in and dock doors, and heated shop space.
Where is this manufacturing property located?
The property is located at 1405 & 1457 E 39th Street Cleveland, OH.
What is the asking price?
The asking price for this property is $1,400,000.
What are key features of this property?
This property features: Contiguous two‑building industrial portfolio at 1405 and 1457 E. 39th St totaling approx. 26,418 SF on 1.70 acres; Fabrication setup in place for heavy‑load work, including in‑place cranes: 2‑ton, 5‑ton, and 2,500 lb; 1457 E. 39th St: 17,018 SF masonry/concrete‑block building (1962) with 20’ clear height, two 14’x14’ drive‑in doors, one 12’x10’ dock door with leveler
