Flex Building with Drive-In
For Sale
Contact for pricing
34280 Solon Road, Solon, OH 44139
Industrial-flex property combines warehouse and office areas with convenient drive-in access.
Property Size13,100 SF
Price / SF$97.33
Days on Market131
Property Features for 34280 Solon Road
General Information
Standard status
Active
Size
13,100 SF
Property subtype
Industrial
Building Details
Buildings
1
Listing Agency:
Hanna Commercial Real Estate Cleveland
(216) 839-2002
Listed By:
David C. Wagner · License #OH SAL.0000311505
Source:
Crexi
Added: Apr 23
Changed: Aug 30
Last Checked: Aug 30 at 8:00PM
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 Hanna Commercial Real Estate Cleveland
Investment Insights
Based on property information with market context.
This flex property includes a 13,100-square-foot building on 4.69 acres, with 9,270 square feet dedicated to warehouse space and 3,840 square feet of office area. Three drive-in doors support movement between the building and site, while ceiling heights range from 14 to 17 feet. The property also allows for a minimum divisible area of 4,000 RSF.
Located at 34280 Solon Road in Solon, Ohio, the site combines industrial and office components within one commercial property. Its configuration provides distinct warehouse and office areas in a single building, with the scale and layout documented for both full-property use and potential division.
Located at 34280 Solon Road in Solon, Ohio, the site combines industrial and office components within one commercial property. Its configuration provides distinct warehouse and office areas in a single building, with the scale and layout documented for both full-property use and potential division.
Key Highlights
- 13,100 SF building situated on 4.69 acres
- 9,270 SF of warehouse space and 3,840 SF of office space
- Three drive‑in doors
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
$47,314
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
3.71%
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%
$946,280
$946.3K
Cap Rate 7%
$675,914
$675.9K
Cap Rate 9%
$525,711
$525.7K
Market Conditions
NOI Build-Up for 13,100 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
$77.0K $5.88/SF
− Vacancy
−$4.2K −$0.32/SF
EGI
$72.8K $5.56/SF
− OpEx
−$25.5K −$1.94/SF
NOI
$47.3K $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%
$946,280
Cap Rate 7%
$675,914
Cap Rate 9%
$525,711
Alternative Uses
Best Use
Warehouse
$10.50M
$9.18M – $12.25M
NOI $734,740 @ 7.0% cap · market cap 57.63%
Second Best
Industrial
$8.64M
$7.56M – $10.08M
NOI $605,080 @ 7.0% cap · market cap 47.46%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,219
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 44139, OH
25,331
Population
9,347
Households
2.7
Avg Household Size
44
Median Age
63%
College-Educated
95%
High-School Grad
22.9 sq mi
ZIP Area
1,106
Density / Sq Mi
$134,924
Median Household Income
$73,281
Median Earnings
$1,468
Median Rent
$373,800
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
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Similar Off Market Nearby
- Signature Catering — 33840 Aurora Rd, Cleveland, OH 44139
- City Barbeque — 6372 SOM Ctr Rd, Solon, OH 44139
Frequently Asked Questions
What type of property is this?
Flex space - Industrial-flex property combines warehouse and office areas with convenient drive-in access.
Where is this flex space located?
The property is located at 34280 Solon Road Solon, OH.
What is the asking price?
The asking price for this property is $1,275,000.
What are key features of this property?
This property features: 13,100 SF building situated on 4.69 acres; 9,270 SF of warehouse space and 3,840 SF of office space; Three drive‑in doors
