Commercial
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32961 Pin Oak Parkway, Avon Lake, OH 44012
Commercial-zoned warehouse positioned for convenient regional access near I-90.
Property Size2,136 SF
Price / SF$69.76
Days on Market131
Property Features for 32961 Pin Oak Parkway
General Information
Standard status
Active
Size
2,136 SF
Class
B
Property subtype
Industrial
Zoning
Commercial
Building Details
Year Built
2009
Stories
1
Listing Agency:
Cushman & Wakefield CRESCO Real Estate
Listed By:
Brian Smith · License #OH SAL.2016001142
Source:
Crexi
Added: Apr 22
Changed: Aug 30
Last Checked: Aug 30 at 4:31AM
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 Cushman & Wakefield CRESCO Real Estate
Investment Insights
Based on property information with market context.
This warehouse property is located at 32961 Pin Oak Parkway in Avon Lake, Ohio. The building was constructed in 2009 and carries Commercial zoning.
The property is approximately 1.5 miles from I-90, providing a direct connection to the interstate network. Its warehouse classification and established commercial setting support a range of business and storage-related applications, subject to applicable approvals.
The property is approximately 1.5 miles from I-90, providing a direct connection to the interstate network. Its warehouse classification and established commercial setting support a range of business and storage-related applications, subject to applicable approvals.
Key Highlights
- Commercial zoning designation
- Approximately 1.5 miles from I‑90
- Warehouse building constructed in 2009
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
$9,798
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
6.58%
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%
$195,960
$196.0K
Cap Rate 7%
$139,971
$140.0K
Cap Rate 9%
$108,867
$108.9K
Market Conditions
NOI Build-Up for 2,136 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
$12.0K $5.61/SF
− Vacancy
−$455 −$0.21/SF
EGI
$11.5K $5.40/SF
− OpEx
−$1.7K −$0.81/SF
NOI
$9.8K $4.59/SF
Area
Lorain County, OH
Vacancy
3.80%
Lease Rate
$5.61 /SF/Yr
Expense Ratio
15.00%
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%
$195,960
Cap Rate 7%
$139,971
Cap Rate 9%
$108,867
Alternative Uses
Best Use
Warehouse
$140.0K
$122.5K – $163.3K
NOI $9,798 @ 7.0% cap · market cap 6.58%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$538.3K
$471.0K – $628.0K
NOI $37,679 @ 7.0% cap · market cap 25.29%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
154
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 44012, OH
25,206
Population
10,884
Households
2.3
Avg Household Size
45
Median Age
54%
College-Educated
98%
High-School Grad
11.1 sq mi
ZIP Area
2,271
Density / Sq Mi
$110,174
Median Household Income
$63,289
Median Earnings
$1,500
Median Rent
$337,200
Median Home Value
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
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Similar Off Market Nearby
- RLD Management Storage — 755 Moore Rd #2, Avon Lake, OH 44012
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Frequently Asked Questions
What type of property is this?
Warehouse - Commercial-zoned warehouse positioned for convenient regional access near I-90.
Where is this warehouse located?
The property is located at 32961 Pin Oak Parkway Avon Lake, OH.
What is the asking price?
The asking price for this property is $149,000.
What are key features of this property?
This property features: Commercial zoning designation; Approximately 1.5 miles from I‑90; Warehouse building constructed in 2009
