Freestanding Industrial
New
For Sale
$399,000
400 Folsom St NW, Warren, OH 44483
Masonry warehouse with office space, drive-in loading, and substantial land for outdoor operational needs.
Property Size5,192 SF
Lot Size2.52 Acres
Price / SF$76.85
Days on Market2
Property Features for 400 Folsom St NW
General Information
Standard status
Active
Size
5,192 SF
Class
C
Total Parking Spaces
4
Lot size
2.52 Acres
Property subtype
industrial
Zoning
Industrial
Site & Location
Highway Access
Yes
Outdoor Storage
Yes
Warehouse & Industrial
Clear Height
14 ft
Clear Span
Yes
Office Build-Out
750 SF
Drive-In Doors
5
Building Details
Year Built
1974
Construction
masonry
Listing Agency:
Cleveland
(216) 861-7171
Listed By:
Joe Messina · License #SAL.2001003163
(216) 937-4386
Source:
Property.jll
Added: Sep 16
Last Checked: Sep 16 at 2:18PM
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 Cleveland
Investment Insights
Based on property information with market context.
This freestanding industrial warehouse at 400 Folsom St NW includes clear-span space within a masonry building constructed in 1974. The property has approximately 750 SF of office area with HVAC, a 14-foot clear height, and five drive-in doors. Two bays provide drive-through access, supporting loading and vehicle circulation. Approximately four car parking spots are also provided.
The site encompasses approximately 2.52 acres and offers room for trailer storage, equipment staging, outdoor storage, and fleet parking. Zoned Industrial, the property is positioned in Warren, Ohio, with immediate access to State Route 82. The combination of enclosed warehouse space, administrative area, multiple drive-in openings, and excess land accommodates industrial, service, storage, distribution, and contractor-oriented operations.
The site encompasses approximately 2.52 acres and offers room for trailer storage, equipment staging, outdoor storage, and fleet parking. Zoned Industrial, the property is positioned in Warren, Ohio, with immediate access to State Route 82. The combination of enclosed warehouse space, administrative area, multiple drive-in openings, and excess land accommodates industrial, service, storage, distribution, and contractor-oriented operations.
Key Highlights
- Approximately 2.52 acres with room for trailer storage and outdoor operations
- 5 drive‑in doors, including 2 bays with drive‑through access
- 14’ clear height within a clear‑span warehouse
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
$25,907
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
6.49%
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%
$518,140
$518.1K
Cap Rate 7%
$370,100
$370.1K
Cap Rate 9%
$287,856
$287.9K
Market Conditions
NOI Build-Up for 5,192 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
$33.3K $6.41/SF
− Vacancy
−$2.8K −$0.54/SF
EGI
$30.5K $5.87/SF
− OpEx
−$4.6K −$0.88/SF
NOI
$25.9K $4.99/SF
Area
Trumbull County, OH
Vacancy
8.42%
Lease Rate
$6.41 /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%
$518,140
Cap Rate 7%
$370,100
Cap Rate 9%
$287,856
Alternative Uses
Best Use
Warehouse
$370.1K
$323.8K – $431.8K
NOI $25,907 @ 7.0% cap · market cap 6.49%
Second Best
Industrial
$304.8K
$266.7K – $355.6K
NOI $21,335 @ 7.0% cap · market cap 5.35%
Theoretical Best
Office A
$985.5K
$862.3K – $1.15M
NOI $68,983 @ 7.0% cap · market cap 17.29%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
14 ft
Clear height
5
Drive-in doors
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
213
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 44483, OH
24,840
Population
12,469
Households
2
Avg Household Size
43
Median Age
17%
College-Educated
89%
High-School Grad
18.3 sq mi
ZIP Area
1,357
Density / Sq Mi
$47,629
Median Household Income
$32,289
Median Earnings
$796
Median Rent
$100,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Industrial in Midwest region
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Similar Off Market Nearby
- Affordable Storage Solutions — 244 Folsom St NW, Warren, OH 44483
- Blue Star Mini Storage — 141 Republic Ave, Warren, OH 44483
Frequently Asked Questions
What type of property is this?
Warehouse - Masonry warehouse with office space, drive-in loading, and substantial land for outdoor operational needs.
Where is this warehouse located?
The property is located at 400 Folsom St NW Warren, OH.
What is the asking price?
The asking price for this property is $399,000.
What are key features of this property?
This property features: Approximately 2.52 acres with room for trailer storage and outdoor operations; 5 drive‑in doors, including 2 bays with drive‑through access; 14’ clear height within a clear‑span warehouse
