Warehouse with Loading
For Sale
$1,050,000
42 Townline Road 151, Norwalk, OH 44857
Industrial flex property offers drive-in access, dock unloading, tow-motor-ready concrete floors, offices, and 3-phase power.
Property Size6,500 SF
Price / SF$161.54
Days on Market150
Property Features for 42 Townline Road 151
General Information
Standard status
Active
Size
6,500 SF
Property subtype
Commercial
Additional Details
Highway Access
Yes
Heavy Power
Yes
Listed By:
Evan Cianciolo · License #2023004160 (OH)
(216) 777-3049
Source:
Matthews
Added: Apr 11
Changed: Sep 3
Last Checked: Sep 7 at 4:40AM
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 Evan Cianciolo
Investment Insights
Based on property information with market context.
Industrial flex/warehouse property located south of downtown Norwalk on the corner of Route 250 and Townline Rd 151, just off OH-13. The building provides drive-in access so box trucks can be unloaded at the docks.
The facility features tow-motor-ready concrete floors and 3-phase power for industrial use. Office space is included at 3,000 square feet, and the property also includes a 3,500 garage for additional storage.
The listing notes quick and easy 2-minute access to the highway, and the owner will hold financing with only $30,000 down. The property is also available for lease (MLS ID 4150573).
The facility features tow-motor-ready concrete floors and 3-phase power for industrial use. Office space is included at 3,000 square feet, and the property also includes a 3,500 garage for additional storage.
The listing notes quick and easy 2-minute access to the highway, and the owner will hold financing with only $30,000 down. The property is also available for lease (MLS ID 4150573).
Key Highlights
- Industrial building on the corner of Route 250 and Townline Rd 151, just off OH‑13 south of downtown Norwalk
- Drive‑in access with dock unloading and tow‑motor‑ready concrete floors
- Includes office space totaling 3,000 sq ft
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
$76,501
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
7.29%
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%
$1,530,020
$1.5M
Cap Rate 7%
$1,092,871
$1.1M
Cap Rate 9%
$850,011
$850.0K
Market Conditions
NOI Build-Up for 6,500 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
$123.2K $18.96/SF
− Vacancy
−$5.5K −$0.85/SF
EGI
$117.7K $18.11/SF
− OpEx
−$41.2K −$6.34/SF
NOI
$76.5K $11.77/SF
Area
Huron County, OH
Vacancy
4.50%
Lease Rate
$18.96 /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%
$1,530,020
Cap Rate 7%
$1,092,871
Cap Rate 9%
$850,011
Alternative Uses
Best Use
Flex RnD
$1.09M
$956.3K – $1.28M
NOI $76,501 @ 7.0% cap · market cap 7.29%
Second Best
Warehouse
$463.3K
$405.4K – $540.6K
NOI $32,433 @ 7.0% cap · market cap 3.09%
Theoretical Best
Specialty Retail
$1.35M
$1.18M – $1.58M
NOI $94,569 @ 7.0% cap · market cap 9.01%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Heavy power
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
41
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 44857, OH
23,619
Population
10,579
Households
2.2
Avg Household Size
41
Median Age
21%
College-Educated
93%
High-School Grad
81.6 sq mi
ZIP Area
289
Density / Sq Mi
$62,227
Median Household Income
$42,100
Median Earnings
$795
Median Rent
$170,400
Median Home Value
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Flex space - Industrial flex property offers drive-in access, dock unloading, tow-motor-ready concrete floors, offices, and 3-phase power.
Where is this flex space located?
The property is located at 42 Townline Road 151 Norwalk, OH.
What is the asking price?
The asking price for this property is $1,050,000.
What are key features of this property?
This property features: Industrial building on the corner of Route 250 and Townline Rd 151, just off OH‑13 south of downtown Norwalk; Drive‑in access with dock unloading and tow‑motor‑ready concrete floors; Includes office space totaling 3,000 sq ft
