Retail Buildings on Commerce
500 Commerce Park Blvd, Northwood, OH 43619
Call to check price and availability
Two retail buildings with investment opportunity in Northwood, Ohio.
Type:Retail
Property size:
17,136 SFPrice / SF:
$72/SF- Added:
- Jul 1, 2024
- Days on Market:
- 701
- Last Refresh:
- May 12 at 11:15 pm
Property Features for 500 Commerce Park Blvd
General Information
- Standard status
- Active
- Size
- 17,136 SF
- Property subtype
- Retail
Listing agent Joe Belinske License #OH 0000320016
Listing office Reichle | Klein Group (419) 861-1100
Listing date Jul 1, 2024
Source Crexi
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 Reichle | Klein Group
HighLights
- Cash flow investment opportunity with 100% occupancy in one building
- Ample parking with 87 spaces
- Prime location on Commerce Park Blvd. with frontage on Woodville Rd.
- Tenant reimbursement for all operating expenses in one building
- Proximity to I‑280 and new mixed‑use development
- Two commercial retail buildings totaling 17,136 SF
Overview
Two commercial retail buildings present an owner/user investment opportunity. Building 500 has a size of 7,136 square feet and is 100% occupied by four tenants, who reimburse all operating expenses. Building 510 has a size of 10,000 square feet and is currently occupied by the owner and available. The property is located on Commerce Park Blvd, with frontage on Woodville Rd, just east of I-280 and west of the new Enclave mixed-use development on the former 120-acre Woodville Mall. Ample parking is available with 87 parking spaces, and the parking area has been recently sealed and stripped. The total property size is 17,136 square feet.
Local Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $100.8k | $5.88 |
| − Vacancy | −$4.0k | −$0.24 |
| EGI | $96.7k | $5.64 |
| − OpEx | −$29.0k | −$1.69 |
| NOI | $67.7k | $3.95 |
17,136 SF · lease $5.88/SF/yr · vacancy 4.00% · expense 30.00%
Alternative Uses
Best Use
Retail
$967.3K
$846.4K – $1.13M
NOI $67,711 @ 7.0% cap · market cap 5.42%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.99M
$3.49M – $4.66M
NOI $279,396 @ 7.0% cap · market cap 22.35%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Location Intelligence
Current Use by Public Records
Retail space
Location Insight
- Map
- Local Demand
- City
- Northwood
- County
- Wood
- State
- Ohio
- Longitude
- -83.4716721
- Latitude
- 41.6061513
Nearby Similar for Sale
FAQs
What type of property is this?
Retail space - Two retail buildings with investment opportunity in Northwood, Ohio.
Where is this retail space located?
The property is located at 500 Commerce Park Blvd Northwood, OH.
What is the asking price?
The asking price for this property is $1,250,000.
What are key features of this property?
This property features: Cash flow investment opportunity with 100% occupancy in one building; Ample parking with **87 spaces**; Prime location on Commerce Park Blvd. with frontage on Woodville Rd.
