Renovated Industrial Warehouse in
186 Commerce Dr Lagrange, OH
For Sale
Contact for pricing
Fully renovated industrial warehouse with modern upgrades and ample space.
Property Size47,576 SF
Lot Size2.02 Acres
Price / SF$85.40
Days on Market295
Property Features for 186 Commerce Dr
General Information
Standard status
Active
Size
47,576 SF
Lot size
2.02 Acres
Property subtype
INDUSTRIAL
Properties For Sale
at 186 Commerce Dr Contact us
Listing Agency:
Newmark | Cleveland
(216) 453-3001
Listed By:
Terry Coyne, SIOR, CCIM
Source:
Moodyscre
Added: Oct 8, 2025
Changed: Jul 6
Last Checked: Jul 21 at 5:55AM
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 Newmark | Cleveland
Investment Insights
Based on property information with market context.
This industrial property, located in LaGrange, Ohio, features a fully reconditioned exterior with new paint and landscaping. The parking lot has been upgraded with new 8-inch reinforced concrete and asphalt. The interior office suite has undergone a complete renovation, including new paint, luxury carpet and vinyl tile, and ceiling tiles. Brand new LED lighting has been installed throughout the entire building, including the shop area, which has also been fully restored. The property includes eight brand new roof-mounted HVAC units, new dock shelters and bumpers, and a 125 HP rotary screw air compressor. The dock doors have been refinished, and two new man doors have been added. New security and emergency exit lights, along with a new sprinkler-monitoring system and panel, have been installed. The property encompasses 47576 square feet and is suitable for warehouse, industrial, and distribution purposes.
Key Highlights
- Eight (8) brand new roof‑mounted HVAC units
- Full office suite interior renovation: paint, luxury carpet & vinyl tile, ceiling tiles
- Full exterior reconditioning: new paint & landscaping
Financial Insights For Warehouse
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $266.9k | $5.61 |
| − Vacancy | −$10.1k | −$0.21 |
| EGI | $256.8k | $5.40 |
| − OpEx | −$38.5k | −$0.81 |
| NOI | $218.2k | $4.59 |
47,576 SF · lease $5.61/SF/yr · vacancy 3.80% · expense 15.00%
Alternative Uses
Best Use
Warehouse
$3.12M
$2.73M – $3.64M
NOI $218,245 @ 7.0% cap · market cap 5.37%
Second Best
Industrial
$2.57M
$2.25M – $3.00M
NOI $179,731 @ 7.0% cap · market cap 4.42%
Theoretical Best
Office A
$11.99M
$10.49M – $13.99M
NOI $839,241 @ 7.0% cap · market cap 20.66%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Similar Off Market Nearby
- Keystone Self Storage — 233 W Commerce Dr, Lagrange, OH 44050
- 1st Choice Storage — 177 E Commerce Dr, Lagrange, OH 44050
Frequently Asked Questions
What type of property is this?
Warehouse - Fully renovated industrial warehouse with modern upgrades and ample space.
Where is this warehouse located?
The property is located at 186 Commerce Dr Lagrange, OH.
What is the asking price?
The asking price for this property is $4,063,000.
What are key features of this property?
This property features: Eight (8) brand new roof‑mounted HVAC units; Full office suite interior renovation: paint, luxury carpet & vinyl tile, ceiling tiles; Full exterior reconditioning: new paint & landscaping
