Industrial Warehouse
New
For Sale
Contact for pricing
449 Freedlander Rd, Wooster, OH 44691
Four-building industrial property with overhead cranes, 480-volt power, and gas or electric service.
Property Size21,440 SF
Lot Size8.51 Acres
Price / SF$59.80
Days on Market4
Property Features for 449 Freedlander Rd
General Information
Standard status
Active
Size
21,440 SF
Lot size
8.51 Acres
Property subtype
INDUSTRIAL
Warehouse & Industrial
Warehouse Space
21,440 SF
Voltage
480 V
Additional Details
Utilities to Site
Yes
Building Details
Buildings
4
Building Size
21,440 SF
Listing Agency:
Best Corporate Real Estate
(614) 559-3350
Listed By:
Bob Lockett
(614) 545-4091
Source:
Moodyscre
Added: Sep 15
Changed: Sep 16
Last Checked: Sep 16 at 2:01PM
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 Best Corporate Real Estate
Investment Insights
Based on property information with market context.
This industrial warehouse property includes four separate buildings totaling approximately 21,440 square feet. Building A contains approximately 11,000 square feet with floor drains, a 1-ton overhead crane, 480-volt power, and gas and electric service. Building B provides approximately 6,000 square feet with 480-volt power and gas heat. Building C includes approximately 3,300 square feet, a 1-ton overhead crane, 480-volt power, and gas heat. Building E adds approximately 1,140 square feet with 120-volt power.
The property consists of three parcels totaling approximately 8.51 acres at 449 Freedlander Rd in Wooster, Ohio. The source information also identifies capacity for a future building of up to approximately 50,000 square feet and outside storage.
The property consists of three parcels totaling approximately 8.51 acres at 449 Freedlander Rd in Wooster, Ohio. The source information also identifies capacity for a future building of up to approximately 50,000 square feet and outside storage.
Key Highlights
- 3 parcels totaling ± 8.51 acres
- Four‑building warehouse configuration totaling ± 21,440 square feet
- Building A: ± 11,000 SQFT with floor drains and a 1 ton overhead crane
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
$108,477
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
8.34%
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%
$2,169,540
$2.2M
Cap Rate 7%
$1,549,671
$1.5M
Cap Rate 9%
$1,205,300
$1.2M
Market Conditions
NOI Build-Up for 21,740 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
$139.4K $6.41/SF
− Vacancy
−$11.7K −$0.54/SF
EGI
$127.6K $5.87/SF
− OpEx
−$19.1K −$0.88/SF
NOI
$108.5K $4.99/SF
Area
Wayne 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%
$2,169,540
Cap Rate 7%
$1,549,671
Cap Rate 9%
$1,205,300
Alternative Uses
Best Use
Warehouse
$1.55M
$1.36M – $1.81M
NOI $108,477 @ 7.0% cap · market cap 8.34%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$15.89M
$13.90M – $18.54M
NOI $1,112,251 @ 7.0% cap · market cap 85.56%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
781
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 44691, OH
44,666
Population
19,369
Households
2.3
Avg Household Size
41
Median Age
31%
College-Educated
93%
High-School Grad
154.9 sq mi
ZIP Area
288
Density / Sq Mi
$71,319
Median Household Income
$37,322
Median Earnings
$881
Median Rent
$216,800
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in Midwest region
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Frequently Asked Questions
What type of property is this?
Warehouse - Four-building industrial property with overhead cranes, 480-volt power, and gas or electric service.
Where is this warehouse located?
The property is located at 449 Freedlander Rd Wooster, OH.
What is the asking price?
The asking price for this property is $1,300,000.
What are key features of this property?
This property features: 3 parcels totaling ± 8.51 acres; Four‑building warehouse configuration totaling ± 21,440 square feet; Building A: ± 11,000 SQFT with floor drains and a 1 ton overhead crane
