Two-Building Warehouse
New
For Sale
Contact for pricing
1968-1970 Englewood Ave., Akron, OH 44312
The property combines vacant space with an occupied building under a long-term tenancy.
Property Size5,910 SF
Price / SF$69.37
Days on Market6
Property Features for 1968-1970 Englewood Ave.
General Information
Standard status
Active
Size
5,910 SF
Property subtype
Industrial
Investment Type
Value Add
Building Details
Year Built
1999
Year Renovated
2024
Buildings
2
Tenancy
Multi
Listing Agency:
NAI Pleasant Valley
(330) 535-2661
Listed By:
Scott Raskow · License #OH SAL.2005016012
Source:
Crexi
Added: Aug 27
Changed: Aug 31
Last Checked: Aug 31 at 8:47AM
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 NAI Pleasant Valley
Investment Insights
Based on property information with market context.
This warehouse property includes two buildings totaling 5,910 square feet. The 1968 building provides 1,680 square feet, a 10' x 10' overhead door, and newer Reznor heat. The 1970 building contains 4,230 square feet, including 800 square feet of office area, one 10' x 12' overhead door, 400amp 480/277 3ph power, and full air conditioning. One building is vacant, while the other is occupied by a long-term tenant.
An additional corner lot is included. The property is positioned just off E Market St. and close to I-76. Both buildings were constructed in 1999.
An additional corner lot is included. The property is positioned just off E Market St. and close to I-76. Both buildings were constructed in 1999.
Key Highlights
- Two‑building warehouse property totaling 5,910 square feet
- Vacant 1968 building with 1,680 sq/ft, a 10' x 10' overhead door, and newer Reznor heat
- Occupied 1970 building with 4,230 sq/ft and a long‑term tenant
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
$33,467
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
8.16%
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%
$669,340
$669.3K
Cap Rate 7%
$478,100
$478.1K
Cap Rate 9%
$371,856
$371.9K
Market Conditions
NOI Build-Up for 5,910 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
$40.4K $6.84/SF
− Vacancy
−$1.1K −$0.18/SF
EGI
$39.4K $6.66/SF
− OpEx
−$5.9K −$1.00/SF
NOI
$33.5K $5.66/SF
Area
Akron, OH
Vacancy
2.60%
Lease Rate
$6.84 /SF/Yr
Expense Ratio
15.00%
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%
$669,340
Cap Rate 7%
$478,100
Cap Rate 9%
$371,856
Alternative Uses
Best Use
Warehouse
$478.1K
$418.3K – $557.8K
NOI $33,467 @ 7.0% cap · market cap 8.16%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.45M
$1.27M – $1.69M
NOI $101,526 @ 7.0% cap · market cap 24.76%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
232
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 44312, OH
30,510
Population
14,299
Households
2.1
Avg Household Size
44
Median Age
19%
College-Educated
92%
High-School Grad
19.0 sq mi
ZIP Area
1,606
Density / Sq Mi
$64,542
Median Household Income
$41,829
Median Earnings
$994
Median Rent
$142,100
Median Home Value
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
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Similar Off Market Nearby
- Fulmer Storage — 101 Fulmer Ave, Akron, OH 44312
Frequently Asked Questions
What type of property is this?
Warehouse - The property combines vacant space with an occupied building under a long-term tenancy.
Where is this warehouse located?
The property is located at 1968-1970 Englewood Ave. Akron, OH.
What is the asking price?
The asking price for this property is $410,000.
What are key features of this property?
This property features: Two‑building warehouse property totaling 5,910 square feet; Vacant 1968 building with 1,680 sq/ft, a 10' x 10' overhead door, and newer Reznor heat; Occupied 1970 building with 4,230 sq/ft and a long‑term tenant
