Building Details

Year Built 2021

Buildings 1

Building Size 53,345 SF

Construction precast concrete

Listing Agency: CBRE | Akron

Listed By: Dean Bacopoulos Show Phone

Source: Cbre

Added: Sep 1 Changed: Sep 2 Last Checked: Sep 4 at 2:29AM

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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 CBRE | Akron

Investment Insights

Based on property information with market context.

Completed in 2021, this flex facility at 2679 Sidley Court contains 53,345 SF within a precast-concrete building on ±12.28 acres. The property includes 18,839 SF of fully conditioned interior space arranged for an indoor truck showroom, parts department, and offices, along with heavy-duty service infrastructure.

The site is located in the Sidley Industrial Park corridor with immediate access to Interstate 90 and SR-45. The Interstate 90/SR-45 interchange is 0.7 miles away, providing a defined regional access point for the facility.

Key Highlights

• 53,345 SF precast‑concrete facility completed in 2021
• ±12.28‑acre site in the Sidley Industrial Park corridor
• 18,839 SF of fully conditioned interior space

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

$654,671

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

6.89%

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%

$13,093,420 $13.1M

Cap Rate 7%

$9,352,443 $9.4M

Cap Rate 9%

$7,274,122 $7.3M

Market Conditions

NOI Build-Up for 53,345 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

$960.2K $18.00/SF

− Vacancy

−$25.0K −$0.47/SF

EGI

$935.2K $17.53/SF

− OpEx

−$280.6K −$5.26/SF

NOI

$654.7K $12.27/SF

Area

Ashtabula County, OH

Vacancy

2.60%

Lease Rate

$18.00 /SF/Yr

Expense Ratio

30.00%

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%

$13,093,420

Cap Rate 7%

$9,352,443

Cap Rate 9%

$7,274,122

Alternative Uses

Best Use

Retail

$9.35M

$8.18M – $10.91M (±1% cap)

NOI $654,671 @ 7.0% cap · market cap 6.89%

Second Best

Flex RnD

$4.34M

$3.80M – $5.07M (±1% cap)

NOI $303,913 @ 7.0% cap · market cap 3.20%

Theoretical Best

Office A

$9.94M

$8.70M – $11.60M (±1% cap)

NOI $695,858 @ 7.0% cap · market cap 7.33%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Property Profile

Current Use

Austinburg Truck Center Car Dealership

Suggested Use

Top Pick Storage Facility Big Box & Wholesale Store Hair Salon Nail Salon Restaurant Spa & Massage Center

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Yes

Highway access

Location Intelligence

Trade Area within ½ mile

88

Businesses Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Demographics for 44010, OH

1,666

Population

563

Households

3

Avg Household Size

49

Median Age

25%

College-Educated

90%

High-School Grad

18.3 sq mi

ZIP Area

91

Density / Sq Mi

$79,375

Median Household Income

$58,750

Median Earnings

$856

Median Rent

$219,500

Median Home Value

Market

Vacancy Rate% for Industrial in Midwest region

4.4% 2019

4.9% 2020

3.6% 2021

3.1% 2022

4.6% 2023

5% 2024

4.9% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this flex space located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Flex space - Precast-concrete facility with conditioned showroom, parts, and office areas.

Where is this flex space located?

The property is located at 2679 Sidley Court Austinburg, OH.

What is the asking price?

The asking price for this property is $9,495,000.

What are key features of this property?

This property features: 53,345 SF precast‑concrete facility completed in 2021; ±12.28‑acre site in the Sidley Industrial Park corridor; 18,839 SF of fully conditioned interior space