Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    5960 Center Rd Valley City, OH 44280

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    22.33-acre industrial property with leaseback and additional income streams.

    Type:Industrial
    Property size:
    19,048 SF
    Lot size:
    22.33 Acres
    Added:
    Oct 2, 2023
    Days on Market:
    933
    Last Refresh:
    Mar 17 at 1:24 pm

    Property Features for 5960 Center Rd

    General Information

    Standard status
    Active
    Size
    19,048 SF
    Lot size
    22.33 Acres
    Property subtype
    Industrial

    We can help!

    Listing Contact
    Troy Gerspacher

    Listing agent Troy Gerspacher License #OH 2007000314

    Listing office Gerspacher Real Estate Group

    Listing date Oct 2, 2023

    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 Gerspacher Real Estate Group

    Overview

    Industrial Property with Leaseback Opportunity

    This industrial property, situated on 22.33 acres, presents a sale/leaseback opportunity with the primary occupant, Progressive Construction Group, an industry leader in wall foundations, offering a 10-year leaseback. The property features a total of 19,048 square feet. The rent roll includes income from a 5-year regional tenant, as well as a 40+ unit semi-truck parking area. The zoning is within the Limited Manufacturing and Research District (M).
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Progressive Construction Group Construction Company

    Suggested Use

    Real Estate Agency Spa & Massage Center Hair Salon Auto Repair Shop Nail Salon Storage Facility Bar & Pub Travel Agency Coworking & Hybrid Office

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Valley City
    County
    Medina
    State
    Ohio
    Longitude
    -81.901406
    Latitude
    41.2375189

    Nearby Similar for Sale

    • $350,000

      Valley City Vacant Land Opportunity

      9.46 acres of private, rural land in Valley City.
      1846 Lester Road, Valley City, OH 44280
      View Details
    • $150,000

      Valley City Acreage for Home

      Prime land to build your dream home in Valley City.
      5411 Sleepy Hollow Rd, Valley City, OH 44280
      View Details
    • $150,000

      Valley City Acreage for Home

      Prime land to build your dream home in Valley City.
      5445 Sleepy Hollow Rd, Valley City, OH 44280
      View Details
    • $150,000

      Valley City Acreage for Custom Home

      Prime land to build your dream home in Valley City.
      5457 Sleepy Hollow Rd, Valley City, OH 44280
      View Details
    • $155,000

      Valley City Acreage for Home

      3.45+ acre lot to build your dream home.
      5519 Sleepy Hollow Rd, Valley City, OH 44280
      View Details
    • $245,000

      Land in Valley City, OH

      4.55 acre commercial land for sale in Valley City.
      E Law Road, Valley City, OH 44280
      View Details
    • Contact for pricing

      Prime Corner Lot For Sale

      Commercial land in growing area, utilities available, development opportunity.
      1384 Marks Rd, Valley City, OH 44280
      View Details
    • Contact for pricing
      244,822 SF

      Valley City Industrial Land Available

      Large industrial property available for sale in Valley City.
      700 Liverpool Dr, Valley City, OH 44280
      View Details
    • $3,995,000
      19,048 SF

      Valley City Industrial Flex Property

      Industrial property featuring multiple buildings and flexible spaces for sale.
      5960 Center Rd, Valley City, OH
      View Details
    • $300,000

      Commercial Land in Growing Area

      Commercial land suitable for retail development in a growing area.
      1262 Marks Rd, Valley City, OH 44280
      View Details
    • $132,500

      Valley City Acreage for Building

      Approximately 3.45 acres of land with road frontage.
      5445 Sleepy Hollow Rd, Valley City, OH 44280
      View Details
    • $300,000

      Prime Land in Growing Medina

      Commercial land suitable for development in a high-growth area.
      State Route 303 & Marks Rd, Valley City, OH 44280
      View Details

    FAQs

    What type of property is this?
    Industrial property - 22.33-acre industrial property with leaseback and additional income streams.
    Where is this industrial property located?
    The property is located at 5960 Center Rd Valley City, OH.
    What is the asking price?
    The asking price for this property is $3,995,000.
    What are key features of this property?
    This property features: 10‑year sale/lease back opportunity with primary occupant Progressive Construction Group; Anchor tenants include Progressive Construction Group & Environmental Stone Works; Total Acreage: **22.33 Acres**
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Troy Gerspacher
    Real Estate License ID: OH 2007000314
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!