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    Light Manufacturing Warehouse with Expansion Title is generated by Realmo AI

    604 E Montford Avenue, Ada, OH 45810

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    For Sale
    $2,200,000

    21,606 SF light manufacturing/warehouse on 3.9 acres for sale.

    Type:Commercial/Industrial
    Property size:
    21,606 SF
    Lot size:
    3.91 Acres
    Price / SF:
    $101/SF
    Added:
    Mar 24, 2026
    Days on Market:
    60
    Last Refresh:
    Feb 11 at 5:49 pm

    Property Features for 604 E Montford Avenue

    General Information

    Standard status
    Active
    Size
    21,606 SF
    Lot size
    3.91 Acres
    Property subtype
    Commercial/Industrial

    Building Details

    Year Built
    2012

    We can help!

    Listing Contact
    Douglas J Ryan
    Douglas J Ryan

    Listing agent Douglas J Ryan License #393609

    Listing office Keller Williams Classic Properties of Columbus

    Listing date Mar 24, 2026

    Source Exitrealty

    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 Keller Williams Classic Properties of Columbus

    HighLights

    • 21,606 sq. ft. light manufacturing office / warehouse built in 2012.
    • Located on 3.9 acres allowing for future development or additional on‑site parking.
    • Fully sprinkled and climate controlled.
    • Two drive‑in doors and two docks with truck well.
    • 800 amps power and 2 - 25 ton A/C condensers.
    • Within 13 minutes to I‑75 North / South Tier 1 Freight Corridor.

    Overview

    This 21,606 square foot light manufacturing office and warehouse was constructed in 2012. The building, formerly a food grade manufacturing facility, is fully sprinkled and climate controlled. It features two drive-in doors and two docks with a truck well. The property is situated on two parcels totaling 3.9 acres, allowing for future development or additional on-site parking. Constructed by Golden Giant Building Systems, the building includes 800 amps of power, two 25-ton A/C condensers, multiple floor drains, and is fully insulated with prior utility set-up in place. The clear height is approximately 24 feet, with an overall height of approximately 31 feet 6 inches. The property is located within 13 minutes of I-75 North/South Tier 1 Freight Corridor.

    Financial Insights

    Value Estimation Calculated for Warehouse

    Conservative
    $1.83M
    NOI $165,021 @ 9.00% cap · cautious / downside scenario
    Moderate
    $2.36M
    NOI $165,021 @ 7.00% cap · market / base-case scenario
    Aggressive
    $3.30M
    NOI $165,021 @ 5.00% cap · optimistic / upside scenario

    NOI & Cap Rate Calculator

    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.
         Calculated for Warehouse

    Component $ $/SF
    Gross rent $207.4k $9.60
    − Vacancy −$13.3k −$0.61
    EGI $194.1k $8.99
    − OpEx −$29.1k −$1.35
    NOI $165.0k $7.64
    21,606 SF · lease $9.60/SF/yr · vacancy 6.40% · expense 15.00%

    Alternative Use Scenarios

    Best Use
    Warehouse
    $2.36M
    $2.06M – $2.75M (±1% cap)
    NOI $165,021 @ 7.0% cap · market cap 7.50%
    Second Best
    Industrial
    $1.94M
    $1.70M – $2.27M (±1% cap)
    NOI $135,900 @ 7.0% cap · market cap 6.18%
    Theoretical Best
    Office A
    $4.27M
    $3.74M – $4.98M (±1% cap)
    NOI $299,036 @ 7.0% cap · market cap 13.59%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Manufacturing properties

    Map

    City
    Ada
    County
    Butler
    State
    Ohio
    Longitude
    -83.8107
    Latitude
    40.7796

    FAQs

    What type of property is this?
    Manufacturing property - 21,606 SF light manufacturing/warehouse on 3.9 acres for sale.
    Where is this manufacturing property located?
    The property is located at 604 E Montford Avenue Ada, OH.
    What is the asking price?
    The asking price for this property is $2,200,000.
    What are key features of this property?
    This property features: 21,606 sq. ft. light manufacturing office / warehouse built in 2012.; Located on 3.9 acres allowing for future development or additional on‑site parking.; Fully sprinkled and climate controlled.
    (614) 451-8500
    We can help!
    Listing Contact
    Douglas J Ryan
    Douglas J Ryan
    Real Estate License ID: 393609
    Learn More
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    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.

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