Industrial Warehouse with Loading
For Sale
Contact for pricing
405 Eastlake Dr, Ashland, OH 44805
Large-scale industrial facility in an established business park with high ceilings and multiple loading positions.
Property Size234,000 SF
Price / SF$45
Days on Market92
Property Features for 405 Eastlake Dr
General Information
Standard status
Active
Size
234,000 SF
Property subtype
INDUSTRIAL
Additional Details
Highway Access
Yes
Listing Agency:
Matthews Real Estate Investment Services | Cleveland
(866) 889-0550
Listed By:
Matthew Wallace · License #REC.2022007141(OH)
(216) 215-8991
Source:
Moodyscre
Added: Jul 17
Changed: Oct 1
Last Checked: Oct 14 at 11:58PM
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 Matthews Real Estate Investment Services | Cleveland
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 234,000-square-foot industrial warehouse offers a substantial operating platform for manufacturing, warehousing, logistics, or light assembly. The facility includes high ceilings, multiple loading positions, and modern industrial infrastructure within a business park setting.
The property is located in Ashland, Ohio, with access to U.S. Route 250, U.S. Route 42, and Interstate 71. Regional connectivity extends toward Cleveland, Columbus, and Akron/Canton, while the surrounding business park includes national and regional manufacturing and distribution companies.
The building and site configuration provide a flexible footprint for current industrial operations and changing production, storage, or distribution requirements.
The property is located in Ashland, Ohio, with access to U.S. Route 250, U.S. Route 42, and Interstate 71. Regional connectivity extends toward Cleveland, Columbus, and Akron/Canton, while the surrounding business park includes national and regional manufacturing and distribution companies.
The building and site configuration provide a flexible footprint for current industrial operations and changing production, storage, or distribution requirements.
Key Highlights
- 234,000‑square‑foot industrial facility
- High‑ceiling warehouse configuration with multiple loading positions
- Suitable for manufacturing, warehousing, logistics, and light assembly
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$961,552
Cap Rate
9.13%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$19,231,040
$19.2M
Cap Rate 7%
$13,736,457
$13.7M
Cap Rate 9%
$10,683,911
$10.7M
Market Conditions
NOI Build-Up for 234,000 SF
Gross rent
$1.50M $6.41/SF
− Vacancy
−$126.3K −$0.54/SF
EGI
$1.37M $5.87/SF
− OpEx
−$412.1K −$1.76/SF
NOI
$961.6K $4.11/SF
Area
Ashland County, OH
Vacancy
8.42%
Lease Rate
$6.41 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$19,231,040
Cap Rate 7%
$13,736,457
Cap Rate 9%
$10,683,911
Alternative Uses
Best Use
Warehouse
$16.68M
$14.59M – $19.46M
NOI $1,167,598 @ 7.0% cap · market cap 11.09%
Second Best
Industrial
$13.74M
$12.02M – $16.03M
NOI $961,552 @ 7.0% cap · market cap 9.13%
Theoretical Best
Office A
$44.16M
$38.64M – $51.52M
NOI $3,091,046 @ 7.0% cap · market cap 29.35%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
30
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 44805, OH
31,238
Population
13,248
Households
2.4
Avg Household Size
41
Median Age
25%
College-Educated
92%
High-School Grad
151.1 sq mi
ZIP Area
207
Density / Sq Mi
$62,058
Median Household Income
$35,122
Median Earnings
$835
Median Rent
$165,000
Median Home Value
Market
Vacancy Rate% for Industrial in Midwest region
Frequently Asked Questions
What type of property is this?
Warehouse - Large-scale industrial facility in an established business park with high ceilings and multiple loading positions.
Where is this warehouse located?
The property is located at 405 Eastlake Dr Ashland, OH.
What is the asking price?
The asking price for this property is $10,530,000.
What are key features of this property?
This property features: 234,000‑square‑foot industrial facility; High‑ceiling warehouse configuration with multiple loading positions; Suitable for manufacturing, warehousing, logistics, and light assembly
