Zoned Truck Terminal with
For Sale
$1,200,000
1617 Warren Avenue, Niles, OH 44446
Two gravel-covered buildings include office space and a crane-equipped warehouse with multiple electric loading doors.
Property Size11,200 SF
Lot Size10.81 Acres
Price / SF$107.14
Days on Market133
Property Features for 1617 Warren Avenue
General Information
Standard status
Active
Size
11,200 SF
Lot size
10.81 Acres
Property subtype
Industrial
Warehouse & Industrial
Clear Height
22 ft
Drive-In Doors
5
Heavy Power
Yes
Additional Details
Highway Access
Yes
Office Units
6
Taxes and HOA fees
Annual Taxes
$5,859
Building Details
Year Built
1986
Listing Agency:
Altobelli Real Estate
(330) 978-7750
Listed By:
Rachel L Stahlman · License #2025003398
(330) 978-7750
Source:
Asacoxhomes
Added: Apr 1
Changed: Aug 8
Last Checked: Aug 11 at 4:41AM
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 Altobelli Real Estate
Investment Insights
Based on property information with market context.
This for-sale truck terminal property features two large buildings on 10.81 acres, all under gravel and zoned for truck terminal use. The office building, built in 1986, offers 4,000 square feet with six separate offices, men’s and women’s restrooms, a kitchenette, a conference room/lunch room, additional storage, and a large showroom. Recent updates include a hot water heater (2024), newer roofing, new glass block windows in the showroom, new lighting, and new flooring, along with security system coverage for the office and warehouse. One of three electric heat pumps was replaced within the last two years.
The 11,200-square-foot warehouse/shop building was constructed in 1996 and is supported by a 22-foot ceiling and a 15-ton/30,000 lb overhead crane for loading and unloading. Loading includes five 14-foot electric doors (two newly installed) and one manual door, plus two drive-through bays with floor drains. A 480 3-phase industrial power system serves the site, and an oil burner is also available for heating. The property includes an 880-square-foot locked parts room in the rear, a commercial air compressor, and new LED lighting. City water and septic support the site, which also includes a portion of a lake and a pond.
For operators needing dedicated logistics and storage space, the combination of truck-terminal zoning, gravel-covered yard, abundant parking, and equipment/tractor-trailer storage area provides a functional setup. Tenant and buyer use can be centered on transportation, warehousing, or related industrial activities supported by the crane capacity, multiple loading doors, and drive-through bays.
The 11,200-square-foot warehouse/shop building was constructed in 1996 and is supported by a 22-foot ceiling and a 15-ton/30,000 lb overhead crane for loading and unloading. Loading includes five 14-foot electric doors (two newly installed) and one manual door, plus two drive-through bays with floor drains. A 480 3-phase industrial power system serves the site, and an oil burner is also available for heating. The property includes an 880-square-foot locked parts room in the rear, a commercial air compressor, and new LED lighting. City water and septic support the site, which also includes a portion of a lake and a pond.
For operators needing dedicated logistics and storage space, the combination of truck-terminal zoning, gravel-covered yard, abundant parking, and equipment/tractor-trailer storage area provides a functional setup. Tenant and buyer use can be centered on transportation, warehousing, or related industrial activities supported by the crane capacity, multiple loading doors, and drive-through bays.
Key Highlights
- Two buildings on 10.81 acres, zoned as a truck terminal, all under gravel for logistics, storage, and transportation use
- Office building (4,000 SF) built in 1986 with 6 offices, men's and women's restrooms, kitchenette, conference/lunch room, showroom, and storage
- Office updates include hot water heater (2024), newer roof, new glass block windows in showroom, new lighting and new flooring; one of three heat pumps replaced within 2 years
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
$107,922
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
8.99%
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%
$2,158,440
$2.2M
Cap Rate 7%
$1,541,743
$1.5M
Cap Rate 9%
$1,199,133
$1.2M
Market Conditions
NOI Build-Up for 11,200 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
$178.8K $15.96/SF
− Vacancy
−$34.9K −$3.11/SF
EGI
$143.9K $12.85/SF
− OpEx
−$36.0K −$3.21/SF
NOI
$107.9K $9.64/SF
Area
Trumbull County, OH
Vacancy
19.50%
Lease Rate
$15.96 /SF/Yr
Expense Ratio
25.00%
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%
$2,158,440
Cap Rate 7%
$1,541,743
Cap Rate 9%
$1,199,133
Alternative Uses
Best Use
Office B
$1.54M
$1.35M – $1.80M
NOI $107,922 @ 7.0% cap · market cap 8.99%
Second Best
Warehouse
$798.4K
$698.6K – $931.4K
NOI $55,885 @ 7.0% cap · market cap 4.66%
Theoretical Best
Office A
$2.13M
$1.86M – $2.48M
NOI $148,808 @ 7.0% cap · market cap 12.40%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
22 ft
Clear height
5
Drive-in doors
6
Office units
Yes
Heavy power
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
290
Businesses Nearby
Explore this area
Business Placement
Demographics for 44446, OH
20,173
Population
10,476
Households
1.9
Avg Household Size
44
Median Age
21%
College-Educated
92%
High-School Grad
14.0 sq mi
ZIP Area
1,441
Density / Sq Mi
$49,779
Median Household Income
$35,596
Median Earnings
$786
Median Rent
$108,800
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Truck terminal - Two gravel-covered buildings include office space and a crane-equipped warehouse with multiple electric loading doors.
Where is this truck terminal located?
The property is located at 1617 Warren Avenue Niles, OH.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: Two buildings on 10.81 acres, zoned as a truck terminal, all under gravel for logistics, storage, and transportation use; Office building (4,000 SF) built in 1986 with 6 offices, men's and women's restrooms, kitchenette, conference/lunch room, showroom, and storage; Office updates include hot water heater (2024), newer roof, new glass block windows in showroom, new lighting and new flooring; one of three heat pumps replaced within 2 years
