Industrial Flex Facility with
For Sale
$1,200,000
1617 Warren Avenue, Niles, OH 44446
CommercialSale, Niles, OH
Property Size15,200 SF
Lot Size10.81 Acres
Price / SF$78.95
Days on Market144
Property Features for 1617 Warren Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Subdivision
Township/Weathersfield
Elementary school district
Niles CSD - 7818
Middle school district
Niles CSD - 7818
High school district
Niles CSD - 7818
Directions
Warren Ave south of downtown Warren and just north of Waddell Park
Standard status
Active
APN
21-156505
Lot size
10.81 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
10 8 292.8F PT WARREN AVE 10.81A
Tax Annual Amount
5859
Legal Description
10 8 292.8F PT WARREN AVE 10.81A
Utilities
Sewer type
Septic Tank
Heating system
Electric (Heating), Heat Pump (Heating)
Cooling system
Central Air
Water source
Public
Building Details
Year built
1986
Floors in Building
1
Roof type
Aluminum
Listing Agency:
Altobelli Real Estate
(330) 652-0200
Listed By:
Rachel L Stahlman · License #2025003398
(330) 978-7750
Added: Apr 1
Changed: Aug 20
Last Checked: Aug 22 at 7:06AM
MLS# 5197335
Copyright © 2026 MLS Now. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This industrial flex property combines approximately 11,200 SF of warehouse and shop area with approximately 4,000 SF of professional office space. The warehouse includes open work areas, heavy-duty concrete floors, multiple overhead doors, and a 15-ton overhead crane. Office improvements provide private offices, reception, conference space, employee facilities, and a separate customer entrance.
The site includes extensive gravel parking and outdoor storage areas suited to fleet staging, equipment storage, and industrial operations. Public water and septic service are in place, with electric heating, heat pump heating, central air, and an aluminum roof. Regional access includes approximately 3 miles to U.S. Route 422, 5 miles to State Route 46, 8 miles to State Route 11, 9 miles to I-680, and 11 minutes to the Ohio Turnpike.
The site includes extensive gravel parking and outdoor storage areas suited to fleet staging, equipment storage, and industrial operations. Public water and septic service are in place, with electric heating, heat pump heating, central air, and an aluminum roof. Regional access includes approximately 3 miles to U.S. Route 422, 5 miles to State Route 46, 8 miles to State Route 11, 9 miles to I-680, and 11 minutes to the Ohio Turnpike.
Key Highlights
- Approximately 15,200 SF total building area with approximately 11,200 SF warehouse and 4,000 SF office
- 15‑ton overhead crane and multiple overhead doors
- 10.81‑acre industrial site with extensive gravel parking and outdoor storage
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
$75,844
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
6.32%
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%
$1,516,880
$1.5M
Cap Rate 7%
$1,083,486
$1.1M
Cap Rate 9%
$842,711
$842.7K
Market Conditions
NOI Build-Up for 15,200 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
$97.4K $6.41/SF
− Vacancy
−$8.2K −$0.54/SF
EGI
$89.2K $5.87/SF
− OpEx
−$13.4K −$0.88/SF
NOI
$75.8K $4.99/SF
Area
Trumbull 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%
$1,516,880
Cap Rate 7%
$1,083,486
Cap Rate 9%
$842,711
Alternative Uses
Best Use
Office B
$2.09M
$1.83M – $2.44M
NOI $146,465 @ 7.0% cap · market cap 12.21%
Second Best
Warehouse
$1.08M
$948.1K – $1.26M
NOI $75,844 @ 7.0% cap · market cap 6.32%
Theoretical Best
Office A
$2.89M
$2.52M – $3.37M
NOI $201,953 @ 7.0% cap · market cap 16.83%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
40
Businesses Nearby
Well-served
Demand for This Use
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?
Flex space - Combined warehouse and office improvements support industrial operations with truck access, outdoor storage, and multiple overhead doors.
Where is this flex space 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: Approximately 15,200 SF total building area with approximately 11,200 SF warehouse and 4,000 SF office; 15‑ton overhead crane and multiple overhead doors; 10.81‑acre industrial site with extensive gravel parking and outdoor storage
