Flex Space with Dock
For Sale
$2,900,000
2021-2035 Midway Drive, Twinsburg, OH 44087
Occupied industrial flex property combining warehouse and office areas with loading access and public water and sewer service.
Property Size40,950 SF
Days on Market415
Property Features for 2021-2035 Midway Drive
General Information
Standard status
Active
Size
40,950 SF
Property subtype
Warehouse
Taxes and HOA fees
Annual Taxes
$31,074
Building Details
Building Size
40,950 SF
Year Built
1978
Listing Agency:
Berkshire Hathaway HomeServices Professional Realty
Listed By:
Richard Abou-Jaoude · License #SAL.2023000995
Source:
Asacoxhomes
Added: Jul 14, 2025
Changed: Aug 31
Last Checked: Aug 31 at 12:35PM
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 Berkshire Hathaway HomeServices Professional Realty
Investment Insights
Based on property information with market context.
This multi-unit flex property includes Class B masonry block buildings constructed in 1978, with a combined mix of warehouse and office space. Average unit size is approximately 10,000 SF, including office areas ranging from 1,700 SF to 2,100 SF and approximately 8,500 SF of warehouse space per unit. Each unit includes at least one drive-in bay and two dock positions with levelers. Clear heights measure approximately 16.5 FT, with upgraded lighting, electric heat in the offices, and gas-powered Reznor heaters in the warehouse areas.
The property is located at 2021-2035 Midway Drive in Twinsburg, OH, approximately one mile from I-480 and three miles from I-271. Public water and sewer are present and in use. The flat roofs were resurfaced in 2022, and the site includes approximately 50,000 SF of onsite parking. The property is 100% occupied under NN leases.
The property is located at 2021-2035 Midway Drive in Twinsburg, OH, approximately one mile from I-480 and three miles from I-271. Public water and sewer are present and in use. The flat roofs were resurfaced in 2022, and the site includes approximately 50,000 SF of onsite parking. The property is 100% occupied under NN leases.
Key Highlights
- 100% occupied industrial flex property under NN leases
- Approximately four‑acre site with Class B masonry block buildings
- Average unit size of 10,000 SF; warehouse areas approximately 8,500 SF per unit
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
$197,095
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
6.80%
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%
$3,941,900
$3.9M
Cap Rate 7%
$2,815,643
$2.8M
Cap Rate 9%
$2,189,944
$2.2M
Market Conditions
NOI Build-Up for 40,950 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
$240.8K $5.88/SF
− Vacancy
−$8.9K −$0.22/SF
EGI
$231.9K $5.66/SF
− OpEx
−$34.8K −$0.85/SF
NOI
$197.1K $4.81/SF
Area
Summit County, OH
Vacancy
3.70%
Lease Rate
$5.88 /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%
$3,941,900
Cap Rate 7%
$2,815,643
Cap Rate 9%
$2,189,944
Alternative Uses
Best Use
Office B
$6.92M
$6.05M – $8.07M
NOI $484,319 @ 7.0% cap · market cap 16.70%
Second Best
Warehouse
$2.82M
$2.46M – $3.28M
NOI $197,095 @ 7.0% cap · market cap 6.80%
Theoretical Best
Office A
$10.05M
$8.79M – $11.72M
NOI $703,465 @ 7.0% cap · market cap 24.26%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
299
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 44087, OH
22,626
Population
9,146
Households
2.5
Avg Household Size
44
Median Age
47%
College-Educated
95%
High-School Grad
18.0 sq mi
ZIP Area
1,257
Density / Sq Mi
$95,810
Median Household Income
$59,762
Median Earnings
$1,333
Median Rent
$290,500
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
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Similar Off Market Nearby
- Red's Catering — 2071 Midway Dr, Twinsburg, OH 44087
Frequently Asked Questions
What type of property is this?
Flex space - Occupied industrial flex property combining warehouse and office areas with loading access and public water and sewer service.
Where is this flex space located?
The property is located at 2021-2035 Midway Drive Twinsburg, OH.
What is the asking price?
The asking price for this property is $2,900,000.
What are key features of this property?
This property features: 100% occupied industrial flex property under NN leases; Approximately four‑acre site with Class B masonry block buildings; Average unit size of 10,000 SF; warehouse areas approximately 8,500 SF per unit
