Industrial Buildings with Fenced
For Sale
Contact for pricing
7405-7425 Industrial Parkway Dr, Lorain, OH
Two industrial buildings with fenced yard and highway access.
Property Size73,360 SF
Lot Size2.45 Acres
Price / SF$61.68
Days on Market340
Property Features for 7405-7425 Industrial Parkway Dr
General Information
Standard status
Active
Size
73,360 SF
Lot size
2.45 Acres
Property subtype
INDUSTRIAL
Listing Agency:
JLL | Cleveland
(216) 952-8895
Listed By:
Donald G Bain · License #2023000554
(216) 952-8895
Source:
Moodyscre
Added: Sep 18, 2025
Changed: Aug 17
Last Checked: Aug 22 at 10:36AM
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 JLL | Cleveland
Investment Insights
Based on property information with market context.
This property features two industrial buildings, one spanning 64,060 square feet and the other 9,300 square feet, totaling 73,360 square feet. The site includes a fenced parking lot and yard, providing ample outdoor storage space. Loading and unloading operations are facilitated by a total of 8 loading docks and 8 overhead doors. Both buildings offer modern and renovated office spaces. The property benefits from its location with excellent highway access, situated approximately 0.7 miles from Route 2.
Key Highlights
- Excellent highway access (0.7 miles to Route 2)
- 64,060 SF & 9,300 SF industrial buildings**
- Fenced parking lot / yard with ample outdoor storage
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
$336,524
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
7.44%
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%
$6,730,480
$6.7M
Cap Rate 7%
$4,807,486
$4.8M
Cap Rate 9%
$3,739,156
$3.7M
Market Conditions
NOI Build-Up for 73,360 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
$411.5K $5.61/SF
− Vacancy
−$15.6K −$0.21/SF
EGI
$395.9K $5.40/SF
− OpEx
−$59.4K −$0.81/SF
NOI
$336.5K $4.59/SF
Area
Lorain County, OH
Vacancy
3.80%
Lease Rate
$5.61 /SF/Yr
Expense Ratio
15.00%
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%
$6,730,480
Cap Rate 7%
$4,807,486
Cap Rate 9%
$3,739,156
Alternative Uses
Best Use
Warehouse
$4.81M
$4.21M – $5.61M
NOI $336,524 @ 7.0% cap · market cap 7.44%
Second Best
Industrial
$3.96M
$3.46M – $4.62M
NOI $277,138 @ 7.0% cap · market cap 6.12%
Theoretical Best
Office A
$18.49M
$16.18M – $21.57M
NOI $1,294,070 @ 7.0% cap · market cap 28.60%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
45
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Lorain Baumhart Storage — 6201 Baumhart Rd, Lorain, OH 44053
- Storage Rak — 7451 Terminal Dr, Lorain, OH 44053
- Baumhart Road Self Storage — 6299 Baumhart Rd, Lorain, OH 44053
Frequently Asked Questions
What type of property is this?
Warehouse - Two industrial buildings with fenced yard and highway access.
Where is this warehouse located?
The property is located at 7405-7425 Industrial Parkway Dr Lorain, OH.
What is the asking price?
The asking price for this property is $4,525,000.
What are key features of this property?
This property features: Excellent highway access (0.7 miles to Route 2); 64,060 SF & 9,300 SF industrial buildings**; Fenced parking lot / yard with ample outdoor storage
