Industrial Building with Office
For Sale
$425,000
237 State Road, Ashtabula, OH 44004
10,452 SF industrial building with office and shop space.
Property Size10,452 SF
Price / SF$40.66
Days on Market210
Property Features for 237 State Road
General Information
Standard status
Active
Size
10,452 SF
Property subtype
Industrial
Building Details
Building Size
10,452 SF
Year Built
1979
Listing Agency:
Sperry Commercial -The Masica Company
Listed By:
Steve Masica · License #OH #2013002150
(330) 714-4415
Source:
Themasicacompany
Added: Mar 26
Changed: Oct 21
Last Checked: Oct 20 at 7:05PM
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 Sperry Commercial -The Masica Company
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Investment Insights
Based on property information with market context.
This 10,452 SF industrial building includes 1,872 SF of office space, featuring a conference room, two private offices, a bullpen area, a kitchenette, a locker room, and restrooms. The shop area spans 8,580 SF, complemented by an additional 1,872 SF storage/loft area situated above the office space. The shop is equipped with 3-phase power and two 5-ton cranes. Access to the shop is facilitated by two drive-in doors: one on the north side measuring 12' x 13', and another on the west side measuring 13' 6" x 14' 10".
Key Highlights
- 10,452 SF Industrial building
- Shop area: 8,580 SF with 1,872 SF storage/loft
- Two 5‑ton cranes in shop
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$36,137
Cap Rate
8.50%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$722,740
$722.7K
Cap Rate 7%
$516,243
$516.2K
Cap Rate 9%
$401,522
$401.5K
Market Conditions
NOI Build-Up for 10,452 SF
Gross rent
$52.7K $5.04/SF
− Vacancy
−$1.1K −$0.10/SF
EGI
$51.6K $4.94/SF
− OpEx
−$15.5K −$1.48/SF
NOI
$36.1K $3.46/SF
Area
Ashtabula County, OH
Vacancy
2.00%
Lease Rate
$5.04 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$722,740
Cap Rate 7%
$516,243
Cap Rate 9%
$401,522
Alternative Uses
Best Use
Industrial
$516.2K
$451.7K – $602.3K
NOI $36,137 @ 7.0% cap · market cap 8.50%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.95M
$1.70M – $2.27M
NOI $136,341 @ 7.0% cap · market cap 32.08%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
55
Businesses Nearby
Explore this area
Business Placement
Demographics for 44004, OH
31,661
Population
15,262
Households
2.1
Avg Household Size
44
Median Age
15%
College-Educated
87%
High-School Grad
74.1 sq mi
ZIP Area
427
Density / Sq Mi
$49,507
Median Household Income
$31,471
Median Earnings
$813
Median Rent
$120,300
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in Midwest region
Frequently Asked Questions
What type of property is this?
Manufacturing property - 10,452 SF industrial building with office and shop space.
Where is this manufacturing property located?
The property is located at 237 State Road Ashtabula, OH.
What is the asking price?
The asking price for this property is $425,000.
What are key features of this property?
This property features: 10,452 SF Industrial building; Shop area: 8,580 SF with 1,872 SF storage/loft; Two 5‑ton cranes in shop
