Cleveland Industrial Investment
For Sale
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6707 Bessemer Ave, Cleveland, OH 44127
Industrial property with a 7-year leaseback in Cleveland.
Property Size23,722 SF
Price / SF$67.45
Days on Market754
Property Features for 6707 Bessemer Ave
General Information
Standard status
Active
Size
23,722 SF
Property subtype
Industrial
Zoning
General Industry
Investment Type
Sale/Leaseback
Site & Location
Neighborhood
North Broadway
Building Details
Year Built
1972
Buildings
3
Listing Agency:
Trinity Commercial Realty
Listed By:
Gary Pescatrice · License #OH 0000241394
(216) 402-8000
Source:
Crexi
Added: Oct 4, 2024
Changed: Oct 25
Last Checked: Oct 26 at 3:30PM
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 Trinity Commercial Realty
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Investment Insights
Based on property information with market context.
This industrial property, located in the southeastern part of the Cleveland Industrial District, presents an investment opportunity with a 7-year leaseback. The property offers convenient access to Highways 490, I-77, and I-90. The building has a size of 23,722 square feet.
Key Highlights
- Investment Opportunity with 7‑Year Leaseback
- Located in Cleveland Industrial District
- Close Proximity to Highways 490, I‑77 & I‑90
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$97,458
Cap Rate
6.09%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,949,160
$1.9M
Cap Rate 7%
$1,392,257
$1.4M
Cap Rate 9%
$1,082,867
$1.1M
Market Conditions
NOI Build-Up for 23,722 SF
Gross rent
$145.2K $6.12/SF
− Vacancy
−$6.0K −$0.25/SF
EGI
$139.2K $5.87/SF
− OpEx
−$41.8K −$1.76/SF
NOI
$97.5K $4.11/SF
Area
Cleveland, OH
Vacancy
4.10%
Lease Rate
$6.12 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,949,160
Cap Rate 7%
$1,392,257
Cap Rate 9%
$1,082,867
Alternative Uses
Best Use
Industrial
$1.39M
$1.22M – $1.62M
NOI $97,458 @ 7.0% cap · market cap 6.09%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$5.79M
$5.07M – $6.75M
NOI $405,225 @ 7.0% cap · market cap 25.33%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
475
Businesses Nearby
Explore this area
Business Placement
Demographics for 44127, OH
4,179
Population
2,182
Households
1.9
Avg Household Size
37
Median Age
10%
College-Educated
67%
High-School Grad
1.8 sq mi
ZIP Area
2,322
Density / Sq Mi
$32,955
Median Household Income
$29,000
Median Earnings
$657
Median Rent
$50,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in Cleveland, OH
Frequently Asked Questions
What type of property is this?
Industrial property - Industrial property with a 7-year leaseback in Cleveland.
Where is this industrial property located?
The property is located at 6707 Bessemer Ave Cleveland, OH.
What is the asking price?
The asking price for this property is $1,600,000.
What are key features of this property?
This property features: Investment Opportunity with 7‑Year Leaseback; Located in Cleveland Industrial District; Close Proximity to Highways 490, I‑77 & I‑90
