NNN Freezer/Cooler
For Sale
Contact for pricing
1571 Gressel, Delphos, OH 45833
NNN freezer/cooler facility leased to a strong national tenant with eight years remaining and renewal options.
Property Size36,616 SF
Price / SF$169.32
Days on Market591
Property Features for 1571 Gressel
General Information
Standard status
Active
Size
36,616 SF
Property subtype
INDUSTRIAL
Listing Agency:
NAI Harmon Group
(419) 960-4410
Listed By:
Mark Baringer · License ##SAL.0000272275
(419) 438-5839
Source:
Moodyscre
Added: Mar 19, 2025
Changed: Oct 26
Last Checked: Oct 30 at 3:53PM
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 NAI Harmon Group
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Investment Insights
Based on property information with market context.
NNN freezer/cooler facility totaling 36,616 SF, offered as a net lease investment. The property is described as guaranteed by a strong national tenant.
Lease structure details include eight years remaining, along with two additional 5-year renewal options. The lease also provides for 3% annual rent escalations.
The offering highlights the economic context of Allen County as a national recognized economic area.
Lease structure details include eight years remaining, along with two additional 5-year renewal options. The lease also provides for 3% annual rent escalations.
The offering highlights the economic context of Allen County as a national recognized economic area.
Key Highlights
- 36,616 SF NNN freezer/cooler facility
- Leased under NNN structure
- Guaranteed by a strong national tenant
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$182,704
Cap Rate
2.95%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,654,080
$3.7M
Cap Rate 7%
$2,610,057
$2.6M
Cap Rate 9%
$2,030,044
$2.0M
Market Conditions
NOI Build-Up for 36,616 SF
Gross rent
$234.7K $6.41/SF
− Vacancy
−$19.8K −$0.54/SF
EGI
$214.9K $5.87/SF
− OpEx
−$32.2K −$0.88/SF
NOI
$182.7K $4.99/SF
Area
Allen 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 Rate 5%
$3,654,080
Cap Rate 7%
$2,610,057
Cap Rate 9%
$2,030,044
Alternative Uses
Best Use
Warehouse
$2.61M
$2.28M – $3.05M
NOI $182,704 @ 7.0% cap · market cap 2.95%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$8.82M
$7.72M – $10.29M
NOI $617,363 @ 7.0% cap · market cap 9.96%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
31
Businesses Nearby
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Business Placement
Demographics for 45833, OH
10,682
Population
4,735
Households
2.3
Avg Household Size
41
Median Age
22%
College-Educated
92%
High-School Grad
72.4 sq mi
ZIP Area
148
Density / Sq Mi
$66,919
Median Household Income
$45,558
Median Earnings
$822
Median Rent
$156,000
Median Home Value
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Market
Vacancy Rate% for Industrial in Midwest region
Frequently Asked Questions
What type of property is this?
Refrigerated & cold storage - NNN freezer/cooler facility leased to a strong national tenant with eight years remaining and renewal options.
Where is this refrigerated & cold storage located?
The property is located at 1571 Gressel Delphos, OH.
What is the asking price?
The asking price for this property is $6,200,000.
What are key features of this property?
This property features: 36,616 SF NNN freezer/cooler facility; Leased under NNN structure; Guaranteed by a strong national tenant
