Lorain Industrial Building For
For Sale
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1820 Iowa Ave, Lorain, OH 44052
39,214 SF industrial building available in Lorain, Ohio.
Property Size39,214 SF
Price / SF$47.18
Days on Market183
Property Features for 1820 Iowa Ave
General Information
Standard status
Active
Size
39,214 SF
Property subtype
Industrial
Zoning
I-1 Light Industrial
Building Details
Year Built
1960
Year Renovated
2000
Listing Agency:
JLL - Cleveland, Ohio
(440) 503-1150
Listed By:
Sam Everson · License #OH 2023000554
Source:
Crexi
Added: Feb 19
Changed: Aug 8
Last Checked: Aug 20 at 6:56PM
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 JLL - Cleveland, Ohio
Investment Insights
Based on property information with market context.
A 39,214 square foot industrial building is available for sale in Lorain, Ohio.
Key Highlights
- 39,214 SF Industrial Building for sale
- Located in Lorain, OH
- Industrial Building
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
$148,142
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
8.01%
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%
$2,962,840
$3.0M
Cap Rate 7%
$2,116,314
$2.1M
Cap Rate 9%
$1,646,022
$1.6M
Market Conditions
NOI Build-Up for 39,214 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
$220.0K $5.61/SF
− Vacancy
−$8.4K −$0.21/SF
EGI
$211.6K $5.40/SF
− OpEx
−$63.5K −$1.62/SF
NOI
$148.1K $3.78/SF
Area
Lorain County, OH
Vacancy
3.80%
Lease Rate
$5.61 /SF/Yr
Expense Ratio
30.00%
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%
$2,962,840
Cap Rate 7%
$2,116,314
Cap Rate 9%
$1,646,022
Alternative Uses
Best Use
Industrial
$2.12M
$1.85M – $2.47M
NOI $148,142 @ 7.0% cap · market cap 8.01%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$9.88M
$8.65M – $11.53M
NOI $691,735 @ 7.0% cap · market cap 37.39%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
254
Businesses Nearby
Explore this area
Business Placement
Demographics for 44052, OH
29,249
Population
13,673
Households
2.1
Avg Household Size
37
Median Age
12%
College-Educated
83%
High-School Grad
9.5 sq mi
ZIP Area
3,079
Density / Sq Mi
$42,298
Median Household Income
$31,985
Median Earnings
$840
Median Rent
$104,000
Median Home Value
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Industrial property - 39,214 SF industrial building available in Lorain, Ohio.
Where is this industrial property located?
The property is located at 1820 Iowa Ave Lorain, OH.
What is the asking price?
The asking price for this property is $1,850,000.
What are key features of this property?
This property features: 39,214 SF Industrial Building for sale; Located in Lorain, OH; Industrial Building
