Building Details

Building Size 10,640 SF

Listing Agency: Sperry Commercial -The Masica Company

Listed By: Steve Masica · License ##2013002150 Show Phone

Source: Moodyscre

Added: Oct 29 Changed: Oct 30 Last Checked: Oct 30 at 3:32PM

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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 Sperry Commercial -The Masica Company

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Investment Insights

Based on property information with market context.

This 10,640-square-foot distribution facility occupies a 2.39-acre industrial site and is offered in as-is condition. Loading includes 3 van-height doors and 11 grade-level drive-in doors, along with an elevated concrete platform. Clear heights range from 15' to 19', and the building has 3-phase, 400-amp, 600-volt electrical service. Approximately 40 parking spaces and paved areas for vehicle circulation and operations are also present.

The property is zoned I/OP Industrial/Office Park. Its existing configuration includes multiple loading options, on-site parking, and paved circulation areas. Potential applications identified for the site include transportation, logistics, contractor, and industrial owner-user uses.

Key Highlights

• 10,640 SF building on a 2.39‑acre industrial site
• 3 van‑height loading doors and 11 grade‑level drive‑in doors
• 15'–19' clear heights and an elevated concrete loading platform

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$36,787

Cap Rate

8.19%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$735,740 $735.7K

Cap Rate 7%

$525,529 $525.5K

Cap Rate 9%

$408,744 $408.7K

Is this asking price fair?

Market Conditions

NOI Build-Up for 10,640 SF

Gross rent

$53.6K $5.04/SF

− Vacancy

−$1.1K −$0.10/SF

EGI

$52.6K $4.94/SF

− OpEx

−$15.8K −$1.48/SF

NOI

$36.8K $3.46/SF

Area

Ashtabula County, OH

Vacancy

2.00%

Lease Rate

$5.04 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$735,740

Cap Rate 7%

$525,529

Cap Rate 9%

$408,744

Alternative Uses

Best Use

Warehouse

$638.1K

$558.4K – $744.5K (±1% cap)

NOI $44,670 @ 7.0% cap · market cap 9.95%

Second Best

Industrial

$525.5K

$459.8K – $613.1K (±1% cap)

NOI $36,787 @ 7.0% cap · market cap 8.19%

Theoretical Best

Office A

$1.98M

$1.73M – $2.31M (±1% cap)

NOI $138,793 @ 7.0% cap · market cap 30.91%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Distribution centers

Suggested Use

Top Pick Parking Lot & Garage Auto Repair Shop Plumbing Service Furniture & Home Goods Grocery & Convenience Store Garden Center

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

19 ft

Clear height

11

Drive-in doors

Location Intelligence

Trade Area within ½ mile

80

Businesses Nearby

Explore this area Business Placement

Demographics for 44010, OH

1,666

Population

563

Households

3

Avg Household Size

49

Median Age

25%

College-Educated

90%

High-School Grad

18.3 sq mi

ZIP Area

91

Density / Sq Mi

$79,375

Median Household Income

$58,750

Median Earnings

$856

Median Rent

$219,500

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

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Frequently Asked Questions

What type of property is this?

Distribution center - Industrial/Office Park zoning and three-phase power support a range of industrial operations.

Where is this distribution center located?

The property is located at 1553 State Rte 45 Austinburg, OH.

What is the asking price?

The asking price for this property is $449,000.

What are key features of this property?

This property features: 10,640 SF building on a 2.39‑acre industrial site; 3 van‑height loading doors and 11 grade‑level drive‑in doors; 15'–19' clear heights and an elevated concrete loading platform