Two-Building Industrial
For Sale
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1405 E 39th St, Cleveland, OH 44114
Contiguous two-building industrial portfolio with cranes, heated shop space, and multiple drive-in and dock doors.
Property Size26,418 SF
Lot Size1.70 Acres
Price / SF$52.99
Days on Market188
Property Features for 1405 E 39th St
General Information
Standard status
Active
Size
26,418 SF
Lot size
1.70 Acres
Property subtype
INDUSTRIAL
Site & Location
Neighborhood
Goodrich Kirtland
Fenced Yard
Yes
Outdoor Storage
Yes
Warehouse & Industrial
Dock-High Doors
1
Drive-In Doors
4
Building Details
Construction
masonry/concrete-block
Listing Agency:
eXp Commercial - OH
(614) 852-6226
Listed By:
Kas Filippova · License #Oh 2020006531
(360) 685-4206
Source:
Moodyscre
Added: May 1
Changed: Nov 4
Last Checked: Nov 3 at 6:31AM
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 - OH
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Investment Insights
Based on property information with market context.
Offered as a single contiguous portfolio, this two-building industrial property totals approximately 26,418 SF across two masonry/concrete-block buildings. The fabrication setup is in place, including in-place cranes and suitable utilities for heavy-load industrial operations, along with heated shop space.
The portfolio includes 1457 E. 39th Street, a 17,018 SF building 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. Also included is 1405 E. 39th Street, a 9,400 SF building 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.
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.
The portfolio includes 1457 E. 39th Street, a 17,018 SF building 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. Also included is 1405 E. 39th Street, a 9,400 SF building 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.
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.
- Elevator fabrication setup remains in place with 2‑ton, 5‑ton, and 2,500 lb cranes plus multi‑voltage/multi‑amperage electrical service.
- 1457 E. 39th St: 17,018 SF (1962) masonry/concrete‑block building with 20' clear height; 2 drive‑in doors plus 1 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
Flex RnD
$2.08M
$1.82M – $2.42M
NOI $145,273 @ 7.0% cap · market cap 10.38%
Second Best
Industrial
$1.55M
$1.36M – $1.81M
NOI $108,535 @ 7.0% cap · market cap 7.75%
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
Lease Details
1
Dock-high doors
4
Drive-in doors
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
1,459
Businesses Nearby
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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 cranes, heated shop space, and multiple drive-in and dock doors.
Where is this manufacturing property located?
The property is located at 1405 E 39th St 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.; Elevator fabrication setup remains in place with 2‑ton, 5‑ton, and 2,500 lb cranes plus multi‑voltage/multi‑amperage electrical service.; 1457 E. 39th St: 17,018 SF (1962) masonry/concrete‑block building with 20' clear height; 2 drive‑in doors plus 1 dock door with leveler.
