Renovated Flex Space with Drive-In
For Sale
Contact for pricing
26235 Cannon Rd, Bedford, OH 44146
Multi-tenant industrial space combines warehouse and office areas with updated building systems and on-site parking.
Property Size35,376 SF
Price / SF$70.67
Days on Market286
Property Features for 26235 Cannon Rd
General Information
Standard status
Active
Size
35,376 SF
Property subtype
INDUSTRIAL
Warehouse & Industrial
Dock-High Doors
1
Drive-In Doors
6
Voltage
480 V
Three-Phase Power
Yes
Additional Details
Highway Access
Yes
Amenities
dumpster service
Building Details
Year Renovated
2025
Construction
Masonry and Metal
Tenancy
Multi
Listing Agency:
Hoff & Leigh
(216) 302-4338
Listed By:
Cole Kroneker · License #SAL.2024000334
(216) 302-4338
Source:
Moodyscre
Added: Nov 18, 2025
Changed: Aug 31
Last Checked: Aug 31 at 12:27AM
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 Hoff & Leigh
Investment Insights
Based on property information with market context.
This 35,376-square-foot flex property offers a multi-tenant configuration with warehouse and office buildout options. Masonry and metal construction is paired with 480 Volt/3-Phase power, six drive-in doors, and one dock. A 2025 renovation included a new roof, hot water tank, restrooms, LED lighting, pavement, and interior paint.
Space is available in configurations ranging from 2,000 to 36,000 SF. Outdoor parking and dumpster service are available on site. The property provides immediate access to I-480 and I-271 and is located at 26235 Cannon Rd in Bedford, Ohio.
Space is available in configurations ranging from 2,000 to 36,000 SF. Outdoor parking and dumpster service are available on site. The property provides immediate access to I-480 and I-271 and is located at 26235 Cannon Rd in Bedford, Ohio.
Key Highlights
- 35,376 SF flex property with multi‑tenant design
- 2025 renovation included roof, restrooms, LED lighting, pavement, and paint
- Six new drive‑in doors plus 1 dock
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
$127,771
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
5.11%
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%
$2,555,420
$2.6M
Cap Rate 7%
$1,825,300
$1.8M
Cap Rate 9%
$1,419,678
$1.4M
Market Conditions
NOI Build-Up for 35,376 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
$208.0K $5.88/SF
− Vacancy
−$11.4K −$0.32/SF
EGI
$196.6K $5.56/SF
− OpEx
−$68.8K −$1.94/SF
NOI
$127.8K $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 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%
$2,555,420
Cap Rate 7%
$1,825,300
Cap Rate 9%
$1,419,678
Alternative Uses
Best Use
Warehouse
$28.34M
$24.80M – $33.07M
NOI $1,984,135 @ 7.0% cap · market cap 79.37%
Second Best
Industrial
$23.34M
$20.42M – $27.23M
NOI $1,633,994 @ 7.0% cap · market cap 65.36%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Dock-high doors
6
Drive-in doors
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
302
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 44146, OH
29,778
Population
15,270
Households
2
Avg Household Size
46
Median Age
23%
College-Educated
92%
High-School Grad
20.0 sq mi
ZIP Area
1,489
Density / Sq Mi
$53,049
Median Household Income
$40,808
Median Earnings
$1,000
Median Rent
$141,800
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
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Similar Off Market Nearby
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Frequently Asked Questions
What type of property is this?
Flex space - Multi-tenant industrial space combines warehouse and office areas with updated building systems and on-site parking.
Where is this flex space located?
The property is located at 26235 Cannon Rd Bedford, OH.
What is the asking price?
The asking price for this property is $2,500,000.
What are key features of this property?
This property features: 35,376 SF flex property with multi‑tenant design; 2025 renovation included roof, restrooms, LED lighting, pavement, and paint; Six new drive‑in doors plus 1 dock
