Climate-Controlled Manufacturing
For Sale
$2,250,000
604 E Montford Avenue, Ada, OH 45810
Steel construction, loading access, laboratory space, and office areas support a range of manufacturing operations.
Property Size21,606 SF
Days on Market228
Property Features for 604 E Montford Avenue
General Information
Standard status
Active
Size
21,606 SF
Property subtype
Commercial
Zoning
Light Manufactu
Taxes and HOA fees
Annual Taxes
$16,185
Building Details
Building Size
21,606 SF
Year Built
2012
Units
1
Listing Agency:
Realistar
(419) 673-6485
Listed By:
Rhonda K Crouse
(419) 673-6485
Source:
Carolgoffrealestate
Added: Jan 14
Changed: Aug 30
Last Checked: Aug 30 at 1:56AM
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 Realistar
Investment Insights
Based on property information with market context.
Built in 2012, this 20,000+ square foot steel manufacturing facility combines production infrastructure with administrative and staff-support areas. The building is climate controlled through two 25-ton AC condensers and includes enhanced floor-to-ceiling insulation. Operational features include an 800 Amp electrical system, floor drainage, utility connections, sprinkler and security systems, city water and sewage, and two drive-in loading docks with overhead doors. A private laboratory, staff and visitor bathrooms, conference room, café area, and second-floor offices are also in place. The executive office suite includes a private bathroom with a walk-in shower.
The property is located at 604 E Montford Avenue in Ada, Ohio, within the Industrial Park of Ada. Its configuration supports manufacturing use while providing dedicated space for offices, meetings, laboratory functions, and employee amenities. The site is within 31 miles of Wapakoneta and several surrounding communities, within 70 miles of Toledo, Bowling Green, and Findlay, and within 80 miles of Columbus, Fort Wayne, and other regional markets.
The property is located at 604 E Montford Avenue in Ada, Ohio, within the Industrial Park of Ada. Its configuration supports manufacturing use while providing dedicated space for offices, meetings, laboratory functions, and employee amenities. The site is within 31 miles of Wapakoneta and several surrounding communities, within 70 miles of Toledo, Bowling Green, and Findlay, and within 80 miles of Columbus, Fort Wayne, and other regional markets.
Key Highlights
- 20,000+ SF steel manufacturing building constructed in 2012
- Light Manufacturing zoning in Ada’s Industrial Park
- Two 25‑ton AC condensers with enhanced floor‑to‑ceiling insulation
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
$135,900
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
6.04%
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%
$2,718,000
$2.7M
Cap Rate 7%
$1,941,429
$1.9M
Cap Rate 9%
$1,510,000
$1.5M
Market Conditions
NOI Build-Up for 21,606 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
$207.4K $9.60/SF
− Vacancy
−$13.3K −$0.61/SF
EGI
$194.1K $8.99/SF
− OpEx
−$58.2K −$2.70/SF
NOI
$135.9K $6.29/SF
Area
Butler County, OH
Vacancy
6.40%
Lease Rate
$9.60 /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%
$2,718,000
Cap Rate 7%
$1,941,429
Cap Rate 9%
$1,510,000
Alternative Uses
Best Use
Industrial
$1.94M
$1.70M – $2.27M
NOI $135,900 @ 7.0% cap · market cap 6.04%
Second Best
Flex RnD
$1.17M
$1.02M – $1.36M
NOI $81,816 @ 7.0% cap · market cap 3.64%
Theoretical Best
Office A
$4.27M
$3.74M – $4.98M
NOI $299,036 @ 7.0% cap · market cap 13.29%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
39
Businesses Nearby
Explore this area
Business Placement
Demographics for 45810, OH
7,840
Population
2,811
Households
2.8
Avg Household Size
28
Median Age
32%
College-Educated
99%
High-School Grad
65.6 sq mi
ZIP Area
120
Density / Sq Mi
$59,065
Median Household Income
$18,041
Median Earnings
$741
Median Rent
$157,500
Median Home Value
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Manufacturing property - Steel construction, loading access, laboratory space, and office areas support a range of manufacturing operations.
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 $2,250,000.
What are key features of this property?
This property features: 20,000+ SF steel manufacturing building constructed in 2012; Light Manufacturing zoning in Ada’s Industrial Park; Two 25‑ton AC condensers with enhanced floor‑to‑ceiling insulation
