Avon Flex Building on
For Sale
$556,835
37207 Colorado Avenue, Avon, OH 44011
11,000 sq ft flex building on 1.31 acres.
Property Size13,048 SF
Lot Size1.31 Acres
Price / SF$42.68
Days on Market197
Property Features for 37207 Colorado Avenue
General Information
Standard status
Active
Size
13,048 SF
Lot size
1.31 Acres
Property subtype
Industrial
Listed By:
Jenna Gauntner
(216) 363-6450
Source:
Cbre
Added: Mar 25
Changed: Oct 6
Last Checked: Oct 5 at 5:21PM
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 Jenna Gauntner
Investment Insights
Based on property information with market context.
This property features an 11,000 square foot building suited for retail or flexible uses, situated on 1.31 acres. The site is located in Avon, offering potential for various business operations. The property includes excess land, presenting opportunities for building or parking expansion, or complete redevelopment. It has 121 feet of frontage on Colorado Avenue, located 750 feet northwest of the Colorado Avenue and Detroit Road intersection.
Key Highlights
- 11,000 sq ft quasi‑retail/flex building.
- 1.31 acres of land in the heart of Avon.
- Opportunity for building/parking expansion or redevelopment.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$49,292
Cap Rate
8.85%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$985,840
$985.8K
Cap Rate 7%
$704,171
$704.2K
Cap Rate 9%
$547,689
$547.7K
Market Conditions
NOI Build-Up for 13,048 SF
Gross rent
$73.2K $5.61/SF
− Vacancy
−$2.8K −$0.21/SF
EGI
$70.4K $5.40/SF
− OpEx
−$21.1K −$1.62/SF
NOI
$49.3K $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 Rate 5%
$985,840
Cap Rate 7%
$704,171
Cap Rate 9%
$547,689
Alternative Uses
Best Use
Flex RnD
$771.7K
$675.2K – $900.3K
NOI $54,017 @ 7.0% cap · market cap 9.70%
Second Best
Industrial
$704.2K
$616.2K – $821.5K
NOI $49,292 @ 7.0% cap · market cap 8.85%
Theoretical Best
Office A
$3.29M
$2.88M – $3.84M
NOI $230,167 @ 7.0% cap · market cap 41.33%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
483
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 44011, OH
24,847
Population
9,782
Households
2.5
Avg Household Size
41
Median Age
59%
College-Educated
98%
High-School Grad
20.8 sq mi
ZIP Area
1,195
Density / Sq Mi
$126,618
Median Household Income
$67,143
Median Earnings
$1,446
Median Rent
$377,100
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in Midwest region
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Similar Off Market Nearby
- TBS Avon Pool Concessions — 36265 Detroit Rd, Avon, OH 44011
Frequently Asked Questions
What type of property is this?
Flex space - 11,000 sq ft flex building on 1.31 acres.
Where is this flex space located?
The property is located at 37207 Colorado Avenue Avon, OH.
What is the asking price?
The asking price for this property is $556,835.
What are key features of this property?
This property features: 11,000 sq ft quasi‑retail/flex building.; 1.31 acres of land in the heart of Avon.; Opportunity for building/parking expansion or redevelopment.
