Vermilion Automotive Buildings For
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4545 Liberty Ave, Vermilion, OH
Two buildings totaling 26,360 SF available in Vermilion, OH.
Property Size22,510 SF
Lot Size6.36 Acres
Price / SF$79.52
Days on Market549
Property Features for 4545 Liberty Ave
General Information
Standard status
Active
Size
22,510 SF
Lot size
6.36 Acres
Property subtype
RETAIL
Listing Agency:
CBRE | Cleveland
(216) 363-6435
Listed By:
Mike Petrigan, SIOR
(216) 363-6435
Source:
Moodyscre
Added: Feb 6, 2025
Changed: Aug 8
Last Checked: Aug 8 at 5:12AM
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 CBRE | Cleveland
Investment Insights
Based on property information with market context.
The property features two buildings. The front building has a total area of 15,160 square feet and includes a 1,220-square-foot showroom, a 1,610-square-foot office and customer lounge with 4 offices, and an 8,330-square-foot service center. The service center is equipped with 3 lifts (two 7,000 lb lifts and one 9,000 lb lift), bathrooms, radiant tube heat, and 3 overhead doors (all 14’ x 14’) with a 14’ clear height. Additionally, there is a 4,000-square-foot parts department with two overhead doors (one 8’ x 8’ and one 8’ x 10’). The back building measures 11,200 square feet (70’ x 160’) and features radiant tube heat, a clear height of 14’ to 16’, and one 7,000 lb lift. It also includes 2 overhead doors (12’ x 14’), 3 compressors (Ingersoll-Rand, Cambell Hausfold & Devair), and 2 paint booths: a Blowthern built in 2002 (14’W x 26’D x 10’H) and a Sima built in 2000 (14’W x 28’D x 12’H). The property is located in Vermilion, OH.
Key Highlights
- Substantial 8,330 SF service center with 3 lifts.
- Features a large 4,000 SF parts department.
- Two buildings included: a 15,160 SF front building and an 11,200 SF back building.
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
$92,498
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
5.17%
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%
$1,849,960
$1.8M
Cap Rate 7%
$1,321,400
$1.3M
Cap Rate 9%
$1,027,756
$1.0M
Market Conditions
NOI Build-Up for 22,510 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
$144.3K $6.41/SF
− Vacancy
−$12.1K −$0.54/SF
EGI
$132.1K $5.87/SF
− OpEx
−$39.6K −$1.76/SF
NOI
$92.5K $4.11/SF
Area
Erie 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%
$1,849,960
Cap Rate 7%
$1,321,400
Cap Rate 9%
$1,027,756
Alternative Uses
Best Use
Retail
$5.82M
$5.09M – $6.79M
NOI $407,571 @ 7.0% cap · market cap 22.77%
Second Best
Industrial
$1.32M
$1.16M – $1.54M
NOI $92,498 @ 7.0% cap · market cap 5.17%
Theoretical Best
Multifamily LT 5
$247.72M
$216.76M – $289.01M
NOI $17,340,413 @ 7.0% cap · market cap 968.74%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
256
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Liberty Ford Lincoln Service — 4215 East, 4215 Liberty Ave, Vermilion, OH 44089
- Liberty Ford Vermilion Collision — 4215 liberty ave, vermilion, oh 44089
- Conrad's Tire Express & Total Car Care — 4813 Liberty Ave, Vermilion, OH 44089
- Liberty Vermilion Auto Body Collision Repair — 4395 Liberty Ave, Vermilion, OH 44089
- Liberty Vermilion Service — 4215 Liberty Ave, Vermilion, OH 44089
Frequently Asked Questions
What type of property is this?
Auto shop - Two buildings totaling 26,360 SF available in Vermilion, OH.
Where is this auto shop located?
The property is located at 4545 Liberty Ave Vermilion, OH.
What is the asking price?
The asking price for this property is $1,790,000.
What are key features of this property?
This property features: Substantial 8,330 SF service center with 3 lifts.; Features a large 4,000 SF parts department.; Two buildings included: a 15,160 SF front building and an 11,200 SF back building.
