Stand-Alone Industrial
For Sale
$465,000
70 Industrial St, Rittman, OH 44270
Stand-alone industrial building with dock door access, updated roof, and office space, plus parking and heavy power.
Property Size8,560 SF
Price / SF$54.32
Days on Market51
Property Features for 70 Industrial St
General Information
Standard status
Active
Size
8,560 SF
Property subtype
Industrial
Zoning
Industrial
Building Details
Building Size
8,560 SF
Listing Agency:
Hoff & Leigh Fairlawn
(330) 940-9360
Listed By:
Chad Whitmer
(330) 714-1145
Source:
Hoffleigh
Added: Jul 15
Changed: Aug 12
Last Checked: Sep 2 at 1:10PM
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 Hoff & Leigh Fairlawn
Investment Insights
Based on property information with market context.
This stand-alone industrial building is suited for manufacturing and contractor trades, with a dock door for receiving and updated roof. The property also includes office space and parking to support on-site operations. Heavy power is available for equipment-driven uses.
The building is located across the street from Morton Salt on Industrial Street, with quick access to I-76.
Lease options will also be considered, providing flexibility for qualified tenants or occupants.
The building is located across the street from Morton Salt on Industrial Street, with quick access to I-76.
Lease options will also be considered, providing flexibility for qualified tenants or occupants.
Key Highlights
- Stand‑alone industrial building on Industrial Street, across the street from Morton Salt
- Dock door access for industrial loading and receiving
- Updated roof
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
$35,175
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
7.56%
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%
$703,500
$703.5K
Cap Rate 7%
$502,500
$502.5K
Cap Rate 9%
$390,833
$390.8K
Market Conditions
NOI Build-Up for 8,560 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
$54.9K $6.41/SF
− Vacancy
−$4.6K −$0.54/SF
EGI
$50.2K $5.87/SF
− OpEx
−$15.1K −$1.76/SF
NOI
$35.2K $4.11/SF
Area
Wayne County, OH
Vacancy
8.42%
Lease Rate
$6.41 /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%
$703,500
Cap Rate 7%
$502,500
Cap Rate 9%
$390,833
Alternative Uses
Best Use
Industrial
$502.5K
$439.7K – $586.3K
NOI $35,175 @ 7.0% cap · market cap 7.56%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$6.26M
$5.47M – $7.30M
NOI $437,942 @ 7.0% cap · market cap 94.18%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
247
Businesses Nearby
Explore this area
Business Placement
Demographics for 44270, OH
8,384
Population
3,420
Households
2.5
Avg Household Size
42
Median Age
19%
College-Educated
87%
High-School Grad
19.5 sq mi
ZIP Area
430
Density / Sq Mi
$66,016
Median Household Income
$40,191
Median Earnings
$749
Median Rent
$160,400
Median Home Value
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Manufacturing property - Stand-alone industrial building with dock door access, updated roof, and office space, plus parking and heavy power.
Where is this manufacturing property located?
The property is located at 70 Industrial St Rittman, OH.
What is the asking price?
The asking price for this property is $465,000.
What are key features of this property?
This property features: Stand‑alone industrial building on Industrial Street, across the street from Morton Salt; Dock door access for industrial loading and receiving; Updated roof
