Properties For Sale

at 186 Commerce Dr

186 Commerce Dr AVAILABLE, Now

Floor Bldg

Size 47,576 SF

Type INDUSTRIAL

Lease Type NNN

Sublease No

- Full exterior reconditioning: new paint & landscaping - New 8” reinforced concrete & asphalt in parking lot - Full office suite interior renovation: paint, luxury carpet & vinyl tile, ceiling tiles - Brand new LED lighting throughout entire building including the shop - Full interior shop area restoration - Eight (8) brand new roof-mounted HVAC units - New dock shelters & bumpers - 125 HP rotary screw air compressor - Refinished dock doors - Two (2) new man doors - New security & emergency exit lights - New sprinkler-monitoring system & panel GISP ID: dbbb6457-13cf-45cf-b532-150fc5133709

Contact us

Listing Agency: Newmark | Cleveland Show Phone

Listed By: Terry Coyne, SIOR, CCIM Show Phone

Source: Moodyscre

Added: Oct 8, 2025 Changed: Oct 5 Last Checked: Oct 7 at 11:08AM

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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

Estimated NOI and Cap Rate

NOI / Yr

$218,245

Cap Rate

5.37%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$4,364,900 $4.4M

Cap Rate 7%

$3,117,786 $3.1M

Cap Rate 9%

$2,424,944 $2.4M

Market Conditions

NOI Build-Up for 47,576 SF

Gross rent

$266.9K $5.61/SF

− Vacancy

−$10.1K −$0.21/SF

EGI

$256.8K $5.40/SF

− OpEx

−$38.5K −$0.81/SF

NOI

$218.2K $4.59/SF

Area

Lorain County, OH

Vacancy

3.80%

Lease Rate

$5.61 /SF/Yr

Expense Ratio

15.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$4,364,900

Cap Rate 7%

$3,117,786

Cap Rate 9%

$2,424,944

Alternative Uses

Best Use

Warehouse

$3.12M

$2.73M – $3.64M (±1% cap)

NOI $218,245 @ 7.0% cap · market cap 5.37%

Second Best

Industrial

$2.57M

$2.25M – $3.00M (±1% cap)

NOI $179,731 @ 7.0% cap · market cap 4.42%

Theoretical Best

Office A

$11.99M

$10.49M – $13.99M (±1% cap)

NOI $839,241 @ 7.0% cap · market cap 20.66%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Micron Manufacturing Industrial Manufacturer

Suggested Use

Top Pick Dental Office Building Supply Restaurant Electrical Service Hair Salon Plumbing Service

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

81

Businesses Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Market

Vacancy Rate% for Industrial in Midwest region

4.4% 2019

4.9% 2020

3.6% 2021

3.1% 2022

4.6% 2023

5% 2024

4.9% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this warehouses located? What is the asking price? Find similar properties What are key features of this property?

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