Lordstown Industrial Building and
For Sale
Contact for pricing
1871 Henn Parkway, Lordstown, OH 44481
53,360 SF building on 15 acres near energy centers.
Property Size53,360 SF
Lot Size15.00 Acres
Price / SF$103.07
Days on Market766
Property Features for 1871 Henn Parkway
General Information
Standard status
Active
Size
53,360 SF
Class
A
Lot size
15.00 Acres
Property subtype
Industrial
Zoning
Industrial
Building Details
Year Built
2007
Listing Agency:
Platz Realty Group
(330) 306-0503
Listed By:
Dan Crouse · License #OH-SAL.0000358157
Source:
Crexi
Added: Jul 18, 2024
Changed: Aug 9
Last Checked: Aug 21 at 5:47PM
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 = 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
$219,267
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
3.99%
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%
$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
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
$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 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%
$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
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
NOI $708,962 @ 7.0% cap · market cap 12.89%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
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
Questions? Ask Rey
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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.
