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    Tallmadge Industrial Warehouse For Sale Title is generated by Realmo AI

    342 West Avenue, Tallmadge, OH

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    134,000 SF industrial warehouse on 21.459 acres available.

    Type:INDUSTRIAL
    Property size:
    134,000 SF
    Lot size:
    21.05 Acres
    Price / SF:
    $28/SF
    Added:
    Feb 13, 2024
    Days on Market:
    843
    Last Refresh:
    May 19 at 9:18 pm

    Property Features for 342 West Avenue

    General Information

    Standard status
    Active
    Size
    134,000 SF
    Lot size
    21.05 Acres
    Property subtype
    INDUSTRIAL

    We can help!

    Listing Contact
    Bob Raskow, SIOR
    Bob Raskow, SIOR

    Listing agent Bob Raskow, SIOR License #SAL.2005016012

    Listing office NAI Pleasant Valley - Akron

    Listing date Feb 13, 2024

    Source Moodyscre

    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 NAI Pleasant Valley - Akron

    HighLights

    • Large Available Space: 134,000+\/- SF ideal for various industrial operations.
    • Substantial Acreage: 21.459+\/- acres provides ample space for expansion or outdoor storage.
    • Multiple Loading Docks and Doors: (11) docks and (2) overhead doors facilitate efficient logistics.
    • Significant Power Supply: 600a/480/277v/3ph accommodates heavy machinery and equipment.
    • Flexible Zoning: I‑1 Industrial / R‑3 allows for diverse usage possibilities.
    • Ample Parking: 100+ car parking capacity for employees and visitors.

    Overview

    This industrial property features a 134,000+/- square foot warehouse with 11,200+/- square feet of office space, situated on 21.459+/- acres. The building is fully sprinklered and equipped with 600a/480/277v/3ph power. It includes eleven docks and two overhead doors. Ceiling heights range from a minimum of 11 feet 7 inches and 12 feet to a maximum of 25 feet 9 inches. There is parking for 100+ cars. The zoning is I-1 Industrial and R-3 for the rear 12+/- acres.
    Property Profile Location Intelligence

    Current Use by Public Records

    Martin Wheel Co (Bike/Boat/Book/etc) Store

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    • Public Storage — 1561 Brittain Rd, Akron, OH 44310
    • Evans Ave Mini Storage — 1169 Evans Ave, Akron, OH 44305
    • Secured Self Storage Center — 1302 Brittain Rd, Akron, OH 44310
    • Valley Storage - Tallmadge — 408 Tacoma Ave, Tallmadge, OH 44278

    Location Insight

    • Map
    • Local Demand
    City
    Tallmadge
    County
    Summit
    State
    Ohio
    Longitude
    -81.4564
    Latitude
    41.1031

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    FAQs

    What type of property is this?
    Warehouse - 134,000 SF industrial warehouse on 21.459 acres available.
    Where is this warehouse located?
    The property is located at 342 West Avenue Tallmadge, OH.
    What is the asking price?
    The asking price for this property is $3,800,000.
    What are key features of this property?
    This property features: Large Available Space: 134,000+\/- SF ideal for various industrial operations.; Substantial Acreage: 21.459+\/- acres provides ample space for expansion or outdoor storage.; **Multiple Loading Docks and Doors**: (11) docks and (2) overhead doors facilitate efficient logistics.
    (330) 697-6818 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Bob Raskow, SIOR
    Bob Raskow, SIOR
    Real Estate License ID: SAL.2005016012
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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