Building Details

Buildings 4

Building Size 21,440 SF

Listing Agency: Best Corporate Real Estate Show Phone

Listed By: Bob Lockett Show Phone

Source: Moodyscre

Added: Sep 15 Changed: Oct 25 Last Checked: Nov 3 at 8:07AM

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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

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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.

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 / Yr

$108,477

Cap Rate

8.34%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$2,169,540 $2.2M

Cap Rate 7%

$1,549,671 $1.5M

Cap Rate 9%

$1,205,300 $1.2M

Is this asking price fair?

Market Conditions

NOI Build-Up for 21,740 SF

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 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 (±1% cap)

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 (±1% cap)

NOI $1,112,251 @ 7.0% cap · market cap 85.56%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

vib-iso Consultant Wooster Skate Park Sports Field & Court

Suggested Use

Top Pick Pharmacy Real Estate Agency (Bike/Boat/Book/etc) Store Storage Facility Carpet & Flooring Store Big Box & Wholesale Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

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

Market

Vacancy Rate% for Industrial in Midwest region

4.4% 2019

4.9% 2020

3.6% 2021

3.1% 2022

4.6% 2023

5% 2024

4.9% 2025

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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