Flex Building With Warehouse
For Sale
$650,000
237 Depot St, Berea, OH 44017
Light industrial property combining warehouse operations with office and retail storefront areas.
Property Size13,000 SF
Lot Size0.91 Acres
Price / SF$50
Days on Market73
Property Features for 237 Depot St
General Information
Standard status
Active
Size
13,000 SF
Lot size
0.91 Acres
Zoning
Light Industrial
Site & Location
Road Access
Yes
Fenced Yard
Yes
Warehouse & Industrial
Clear Height
20 ft
Warehouse Space
10,000 SF
Three-Phase Power
Yes
Amenities
conference room
Building Details
Year Built
1951
Buildings
1
Building Size
13,000 SF
Listing Agency:
Russell Real Estate Services
Listed By:
Jesse R Kracht · License #2010001088
(440) 212-5656
Source:
Theacclaimedrealty
Added: Aug 8
Changed: Oct 15
Last Checked: Oct 19 at 8:10AM
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 Russell Real Estate Services
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This flex property includes approximately 13,000 sq ft across industrial, manufacturing, office, and retail storefront areas. The warehouse portion measures approximately 10,000 sq ft, while the office and storefront component provides approximately 3,000 sq ft. Interior features include multiple offices, a conference room, parts room, counter area, and additional warehouse space across multiple levels.
The warehouse offers two overhead doors, 20-foot ceilings, 3-phase electric service, and infrared heaters. A public entrance from Depot St serves the storefront and office areas. The sale includes five parcels totaling 0.91 acres, with the building, parking lot, land, and fenced green space. The property is zoned light industrial and is located at 237 Depot St in Berea, Ohio, with connections between Rocky River Dr. and Front Street.
The warehouse offers two overhead doors, 20-foot ceilings, 3-phase electric service, and infrared heaters. A public entrance from Depot St serves the storefront and office areas. The sale includes five parcels totaling 0.91 acres, with the building, parking lot, land, and fenced green space. The property is zoned light industrial and is located at 237 Depot St in Berea, Ohio, with connections between Rocky River Dr. and Front Street.
Key Highlights
- Approximately 13,000 sq ft total building area
- Approximately 10,000 sq ft of industrial/manufacturing space
- Approximately 3,000 sq ft of office and retail storefront area
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$46,953
Cap Rate
7.22%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$939,060
$939.1K
Cap Rate 7%
$670,757
$670.8K
Cap Rate 9%
$521,700
$521.7K
Market Conditions
NOI Build-Up for 13,000 SF
Gross rent
$76.4K $5.88/SF
− Vacancy
−$4.2K −$0.32/SF
EGI
$72.2K $5.56/SF
− OpEx
−$25.3K −$1.94/SF
NOI
$47.0K $3.61/SF
Area
Cuyahoga County, OH
Vacancy
5.50%
Lease Rate
$5.88 /SF/Yr
Expense Ratio
35.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$939,060
Cap Rate 7%
$670,757
Cap Rate 9%
$521,700
Alternative Uses
Best Use
Industrial
$8.58M
$7.51M – $10.01M
NOI $600,461 @ 7.0% cap · market cap 92.38%
Second Best
Office B
$1.99M
$1.74M – $2.33M
NOI $139,569 @ 7.0% cap · market cap 21.47%
Theoretical Best
Warehouse
$10.42M
$9.11M – $12.15M
NOI $729,132 @ 7.0% cap · market cap 112.17%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
20 ft
Clear height
Yes
Fenced yard
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
589
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 44017, OH
18,611
Population
7,359
Households
2.5
Avg Household Size
40
Median Age
38%
College-Educated
96%
High-School Grad
6.1 sq mi
ZIP Area
3,051
Density / Sq Mi
$72,044
Median Household Income
$37,182
Median Earnings
$981
Median Rent
$187,800
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Midwest region
Similar Off Market Nearby
- Celestialtreatscle — 24 Seminary St, Berea, OH 44017
Frequently Asked Questions
What type of property is this?
Flex space - Light industrial property combining warehouse operations with office and retail storefront areas.
Where is this flex space located?
The property is located at 237 Depot St Berea, OH.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: Approximately 13,000 sq ft total building area; Approximately 10,000 sq ft of industrial/manufacturing space; Approximately 3,000 sq ft of office and retail storefront area
