Manufacturing Facility with Dock
For Sale
$2,350,000
300 Commerce Drive, Lagrange, OH 44050
Manufacturing building with heavy power/air lines, multiple dock and drive-in doors, and an additional gated yard.
Property Size47,730 SF
Days on Market43
Property Features for 300 Commerce Drive
General Information
Standard status
Active
Size
47,730 SF
Property subtype
Mixed Use
Additional Details
Highway Access
Yes
Heavy Power
Yes
Amenities
gated driveway
Building Details
Building Size
47,730 SF
Listing Agency:
Cresco Real Estate | Cleveland
Listed By:
Brian Smith
(216) 525-1476
Source:
Cushmanwakefield
Added: Jul 25
Changed: Sep 4
Last Checked: Sep 2 at 12:43AM
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 Cresco Real Estate | Cleveland
Investment Insights
Based on property information with market context.
This manufacturing facility is equipped with heavy power and air lines and includes multiple dock and drive-in doors throughout the building. The property also provides additional land for expansion and a gated driveway for controlled access.
The site is located at 300 Commerce Dr in LaGrange, OH, with easy access to Route 10 and Route 303.
An additional 3,600 SF outbuilding rounds out the improvements, featuring two oversized drive-in doors for added operational flexibility.
The site is located at 300 Commerce Dr in LaGrange, OH, with easy access to Route 10 and Route 303.
An additional 3,600 SF outbuilding rounds out the improvements, featuring two oversized drive-in doors for added operational flexibility.
Key Highlights
- Manufacturing facility with heavy power and air lines
- Multiple dock and drive‑in doors throughout the facility
- Additional land for expansion plus a gated driveway
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
$180,313
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
7.67%
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%
$3,606,260
$3.6M
Cap Rate 7%
$2,575,900
$2.6M
Cap Rate 9%
$2,003,478
$2.0M
Market Conditions
NOI Build-Up for 47,730 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
$267.8K $5.61/SF
− Vacancy
−$10.2K −$0.21/SF
EGI
$257.6K $5.40/SF
− OpEx
−$77.3K −$1.62/SF
NOI
$180.3K $3.78/SF
Area
Lorain County, OH
Vacancy
3.80%
Lease Rate
$5.61 /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%
$3,606,260
Cap Rate 7%
$2,575,900
Cap Rate 9%
$2,003,478
Alternative Uses
Best Use
Industrial
$2.58M
$2.25M – $3.01M
NOI $180,313 @ 7.0% cap · market cap 7.67%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$12.03M
$10.52M – $14.03M
NOI $841,957 @ 7.0% cap · market cap 35.83%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Heavy power
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
157
Businesses Nearby
Explore this area
Business Placement
Demographics for 44050, OH
6,724
Population
2,777
Households
2.4
Avg Household Size
44
Median Age
25%
College-Educated
94%
High-School Grad
25.5 sq mi
ZIP Area
264
Density / Sq Mi
$100,625
Median Household Income
$55,744
Median Earnings
$1,011
Median Rent
$258,400
Median Home Value
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Manufacturing property - Manufacturing building with heavy power/air lines, multiple dock and drive-in doors, and an additional gated yard.
Where is this manufacturing property located?
The property is located at 300 Commerce Drive Lagrange, OH.
What is the asking price?
The asking price for this property is $2,350,000.
What are key features of this property?
This property features: Manufacturing facility with heavy power and air lines; Multiple dock and drive‑in doors throughout the facility; Additional land for expansion plus a gated driveway
