Building Details

Year Built 2007

Listing Agency: Platz Realty Group

Listed By: Dan Crouse · License #OH-SAL.0000358157 Show Phone

Source: Crexi

Added: Jul 18, 2024 Changed: Oct 12 Last Checked: Oct 12 at 5:09PM

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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 Platz Realty Group

Investment Insights

Based on property information with market context.

Located in Lordstown, Ohio, this property features a 53,360 SF building constructed in 2007, originally designed for a vinyl extrusion operation. The building is fully sprinkled and built to dissipate heat. It includes a dock side that opens to a large concrete truck receiving area, with potential for expansion in this area. The 15-acre site offers adequate open land to construct at least another 50,000 SF building. The building is equipped with 480V 3ph 2000A service and has access to full Village municipal water and sewers. The street is serviced by Lordstown Water for LEC, and a second source of municipal water will be nearby to cool TEC, providing ample water to cool a data center. A 345 KVa transmission line crosses near the rear of the property, which will additionally be fed from TEC, and access to this power line will be made available. Additional circuits are within eyesight for redundant power. The property is immediately adjacent to Lordstown Energy Center, a 950Mw Combined Cycle Natural Gas Turbine power plant, and within 200 yards of the Trumbull Energy Center, a 950Mw CCGT power plant expected to be operational in early 2026. The building is currently leased to a construction company building TEC, with the lease income transferring to the buyer for the duration of the lease. The construction company is expected to vacate when TEC is completed in early 2026. There is sufficient space next to the building to build another 100,000+ SF for an additional data center.

Key Highlights

• Access to a 345 KVa transmission line fed by Trumbull Energy Center (TEC), with redundant power circuits nearby.
• Located adjacent to Lordstown Energy Center (LEC) and Trumbull Energy Center (TEC), offering potential wholesale power purchase agreements.
• Existing 53,360 SF building built in 2007, fully sprinkled and designed to dissipate heat, suitable for data center use.

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$219,267

Cap Rate

3.99%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$4,385,340 $4.4M

Cap Rate 7%

$3,132,386 $3.1M

Cap Rate 9%

$2,436,300 $2.4M

Market Conditions

NOI Build-Up for 53,360 SF

Gross rent

$342.0K $6.41/SF

− Vacancy

−$28.8K −$0.54/SF

EGI

$313.2K $5.87/SF

− OpEx

−$94.0K −$1.76/SF

NOI

$219.3K $4.11/SF

Area

Trumbull County, OH

Vacancy

8.42%

Lease Rate

$6.41 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$4,385,340

Cap Rate 7%

$3,132,386

Cap Rate 9%

$2,436,300

Alternative Uses

Best Use

Industrial

$3.13M

$2.74M – $3.65M (±1% cap)

NOI $219,267 @ 7.0% cap · market cap 3.99%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$10.13M

$8.86M – $11.82M (±1% cap)

NOI $708,962 @ 7.0% cap · market cap 12.89%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Manufacturing properties

Suggested Use

Top Pick Parking Lot & Garage Building Supply Storage Facility Big Box & Wholesale Store Bar & Pub

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

20

Businesses Nearby

Explore this area Business Placement

Demographics for 44481, OH

10,258

Population

4,743

Households

2.2

Avg Household Size

49

Median Age

14%

College-Educated

89%

High-School Grad

57.0 sq mi

ZIP Area

180

Density / Sq Mi

$63,285

Median Household Income

$39,597

Median Earnings

$738

Median Rent

$160,600

Median Home Value

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

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

Frequently Asked Questions

What type of property is this?

Manufacturing property - 53,360 SF building on 15 acres near energy centers.

Where is this manufacturing property located?

The property is located at 1871 Henn Parkway Lordstown, OH.

What is the asking price?

The asking price for this property is $5,500,000.

What are key features of this property?

This property features: Access to a 345 KVa transmission line fed by Trumbull Energy Center (TEC), with redundant power circuits nearby.; Located adjacent to Lordstown Energy Center (LEC) and Trumbull Energy Center (TEC), offering potential wholesale power purchase agreements.; Existing **53,360 SF building built in 2007**, fully sprinkled and designed to dissipate heat, suitable for data center use.