New Construction Divisible Commercial
For Sale
Contact for pricing
420 Mcclurg Road, Boardman, OH 44512
12,000 SF divisible commercial building in Boardman Township, Ohio.
Property Size12,000 SF
Price / SF$91.67
Days on Market171
Property Features for 420 Mcclurg Road
General Information
Standard status
Active
Size
12,000 SF
Property subtype
Industrial
Zoning
Commercial
Building Details
Year Built
2025
Listing Agency:
Gonatas Real Estate
(330) 729-5004
Listed By:
Dennis Gonatas · License #BRKP.2023000272
Source:
Crexi
Added: Mar 13
Changed: Aug 25
Last Checked: Aug 28 at 10:11PM
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 Gonatas Real Estate
Investment Insights
Based on property information with market context.
This newly constructed 12,000 square foot commercial building is located on McClurg Road in Boardman Township, approximately 1.3 miles from the highway. Designed with flexibility in mind, the building can be configured for a single user or divided into four 3,000 square foot suites. It is suitable for owner-users, investors, contractors, service businesses, or warehouse and distribution uses. The structure features a clear-span interior, providing open usable space for various commercial or light industrial applications. The building is designed to accommodate future build-out, including front man doors and second-floor windows, allowing for office or mezzanine additions. Three-phase electric has been blueprinted for the southwest corner of the building, and all major utilities are available at the site. The property includes a spacious lot with room for parking, equipment staging, or future improvements. A variance may be applied for to expand the parking area to the west if additional parking is needed. According to a 2025 traffic study, McClurg Road carries approximately 7,682 vehicles per day.
Key Highlights
- New construction 12,000 SF commercial building divisible into four 3,000 SF units.
- Excellent location: just 1.3 miles to highway access.
- Flexible design: clear‑span interior suitable for various uses.
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
$49,310
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
4.48%
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%
$986,200
$986.2K
Cap Rate 7%
$704,429
$704.4K
Cap Rate 9%
$547,889
$547.9K
Market Conditions
NOI Build-Up for 12,000 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
$76.9K $6.41/SF
− Vacancy
−$6.5K −$0.54/SF
EGI
$70.4K $5.87/SF
− OpEx
−$21.1K −$1.76/SF
NOI
$49.3K $4.11/SF
Area
Mahoning 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 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%
$986,200
Cap Rate 7%
$704,429
Cap Rate 9%
$547,889
Alternative Uses
Best Use
Industrial
$704.4K
$616.4K – $821.8K
NOI $49,310 @ 7.0% cap · market cap 4.48%
Second Best
Flex RnD
$668.6K
$585.0K – $780.0K
NOI $46,800 @ 7.0% cap · market cap 4.25%
Theoretical Best
Office A
$2.26M
$1.98M – $2.64M
NOI $158,515 @ 7.0% cap · market cap 14.41%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
447
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 44512, OH
33,282
Population
15,770
Households
2.1
Avg Household Size
44
Median Age
35%
College-Educated
94%
High-School Grad
17.0 sq mi
ZIP Area
1,958
Density / Sq Mi
$62,311
Median Household Income
$38,828
Median Earnings
$788
Median Rent
$158,800
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 - 12,000 SF divisible commercial building in Boardman Township, Ohio.
Where is this flex space located?
The property is located at 420 Mcclurg Road Boardman, OH.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: New construction 12,000 SF commercial building divisible into four 3,000 SF units.; Excellent location: just 1.3 miles to highway access.; Flexible design: clear‑span interior suitable for various uses.
