Warehouse with Office
For Sale
Contact for pricing
3901 SUPERIOR AVE, Cleveland, OH 44114
Brick and masonry warehouse with upper-level office space, a drive-in door, and direct access to major regional highways.
Property Size15,000 SF
Price / SF$65
Days on Market18
Property Features for 3901 SUPERIOR AVE
General Information
Standard status
Active
Size
15,000 SF
Property subtype
Industrial
Zoning
SI
Building Details
Year Built
1920
Buildings
1
Stories
2
Units
2
Listing Agency:
Presidio Commercial Real Estate Specialists
Listed By:
David Horowitz · License #BRKP.2019005802
Source:
Crexi
Added: Aug 17
Changed: Aug 30
Last Checked: Sep 1 at 9:27PM
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 Presidio Commercial Real Estate Specialists
Investment Insights
Based on property information with market context.
This 15,000-square-foot warehouse is built with brick and masonry construction and includes second-floor office space. The warehouse provides 14-foot clear height and one drive-in door, supporting a range of commercial and industrial operations. A new roof was installed in 2025, and the property was constructed in 1920.
Located on Superior Avenue, the building is approximately one-half mile, or a one-minute drive, from I-90. Access to I-77 and I-71 further connects the property with downtown Cleveland and the broader highway network. The site also offers signage exposure along a corridor reporting 14,000 vehicles per day. The property is zoned SI.
Located on Superior Avenue, the building is approximately one-half mile, or a one-minute drive, from I-90. Access to I-77 and I-71 further connects the property with downtown Cleveland and the broader highway network. The site also offers signage exposure along a corridor reporting 14,000 vehicles per day. The property is zoned SI.
Key Highlights
- 15,000 SF warehouse building with second‑floor office space
- 14' clear height in the warehouse
- One drive‑in door
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
$74,831
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%
$1,496,620
$1.5M
Cap Rate 7%
$1,069,014
$1.1M
Cap Rate 9%
$831,456
$831.5K
Market Conditions
NOI Build-Up for 15,000 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
$91.8K $6.12/SF
− Vacancy
−$3.8K −$0.25/SF
EGI
$88.0K $5.87/SF
− OpEx
−$13.2K −$0.88/SF
NOI
$74.8K $4.99/SF
Area
Cleveland, OH
Vacancy
4.10%
Lease Rate
$6.12 /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%
$1,496,620
Cap Rate 7%
$1,069,014
Cap Rate 9%
$831,456
Alternative Uses
Best Use
Warehouse
$1.07M
$935.4K – $1.25M
NOI $74,831 @ 7.0% cap · market cap 7.67%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.66M
$3.20M – $4.27M
NOI $256,234 @ 7.0% cap · market cap 26.28%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,459
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 44114, OH
7,622
Population
5,151
Households
1.5
Avg Household Size
32
Median Age
47%
College-Educated
85%
High-School Grad
3.0 sq mi
ZIP Area
2,541
Density / Sq Mi
$45,400
Median Household Income
$39,915
Median Earnings
$1,296
Median Rent
$112,900
Median Home Value
Market
Vacancy Rate% for Industrial in Cleveland, OH
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Similar Off Market Nearby
- Extra Space Storage — 3005 Chester Ave, Cleveland, OH 44114
- Kroy Shipping Receiving — 3841 Perkins Ave, Cleveland, OH 44114
- The Ware House — E 34th St, Cleveland, OH 44114
- United Towing Services, Inc. — 3929 Superior Ave, Cleveland, OH 44114
- Iron Mountain — 1260 E 38th St, Cleveland, OH 44114
Frequently Asked Questions
What type of property is this?
Warehouse - Brick and masonry warehouse with upper-level office space, a drive-in door, and direct access to major regional highways.
Where is this warehouse located?
The property is located at 3901 SUPERIOR AVE Cleveland, OH.
What is the asking price?
The asking price for this property is $975,000.
What are key features of this property?
This property features: 15,000 SF warehouse building with second‑floor office space; 14' clear height in the warehouse; One drive‑in door
