Building Details

Buildings 2

Listing Agency: Platz Realty Group

Listed By: Matthew Wilson · License #OH Show Phone

Source: Crexi

Added: Sep 15 Changed: Sep 19 Last Checked: Sep 22 at 2:06PM

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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 Platz Realty Group

Investment Insights

Based on property information with market context.

The property comprises two warehouse buildings totaling 22,200 square feet. The 15,000-square-foot front building includes three offices, a kitchenette, a 10-ton crane, and an 18-foot drive-in door. The 7,200-square-foot rear building has 12-foot and 16-foot drive-in doors, LED lighting, and radiant heat.

Located at 15439 Akron Canfield Rd in Berlin Township, the site is served by 240 V three-phase electric power. Exterior improvements include a gravel turnaround, a covered aggregate pit, and an additional laydown yard. The combination of warehouse space, office areas, overhead handling equipment, multiple drive-in doors, and outdoor operating areas supports a range of industrial uses.

Key Highlights

• Two warehouse buildings totaling 22,200 square feet
• Front building includes 15,000 SF, three offices, kitchenette, and a 10‑ton crane
• Rear building provides 7,200 SF with 12‑foot and 16‑foot drive‑in doors

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

$110,772

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

8.36%

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%

$2,215,440 $2.2M

Cap Rate 7%

$1,582,457 $1.6M

Cap Rate 9%

$1,230,800 $1.2M

Market Conditions

NOI Build-Up for 22,200 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

$142.3K $6.41/SF

− Vacancy

−$12.0K −$0.54/SF

EGI

$130.3K $5.87/SF

− OpEx

−$19.5K −$0.88/SF

NOI

$110.8K $4.99/SF

Area

Mahoning County, OH

Vacancy

8.42%

Lease Rate

$6.41 /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%

$2,215,440

Cap Rate 7%

$1,582,457

Cap Rate 9%

$1,230,800

Alternative Uses

Best Use

Warehouse

$1.58M

$1.38M – $1.85M (±1% cap)

NOI $110,772 @ 7.0% cap · market cap 8.36%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$4.19M

$3.67M – $4.89M (±1% cap)

NOI $293,253 @ 7.0% cap · market cap 22.13%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Warehouses

Suggested Use

Top Pick Auto Repair Shop (Bike/Boat/Book/etc) Store Auto Parts Store Garden Center Bakery Real Estate Agency

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

3

Drive-in doors

Location Intelligence

Trade Area within ½ mile

11

Businesses Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Demographics for 44401, OH

2,648

Population

1,062

Households

2.5

Avg Household Size

49

Median Age

23%

College-Educated

91%

High-School Grad

30.5 sq mi

ZIP Area

87

Density / Sq Mi

$67,094

Median Household Income

$44,844

Median Earnings

$740

Median Rent

$229,400

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

Questions? Ask Rey

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What type of property is this? Where is this warehouses located? What is the asking price? Find similar properties What are key features of this property?

Frequently Asked Questions

What type of property is this?

Warehouse - Industrial facilities offer flexible warehouse, office, equipment, and yard functionality.

Where is this warehouse located?

The property is located at 15439 Akron Canfield Rd Berlin Center, OH.

What is the asking price?

The asking price for this property is $1,325,000.

What are key features of this property?

This property features: Two warehouse buildings totaling 22,200 square feet; Front building includes 15,000 SF, three offices, kitchenette, and a 10‑ton crane; Rear building provides 7,200 SF with 12‑foot and 16‑foot drive‑in doors