Heavy Industrial Truck Terminal
For Sale
Contact for pricing
7451 Terminal Dr, Lorain, OH 44053
Industrial truck terminal on 38.3 acres with two docks, six drive-ins, 18' clear height, and 9,360 SF offices.
Property Size81,640 SF
Lot Size38.30 Acres
Price / SF$45.93
Days on Market504
Property Features for 7451 Terminal Dr
General Information
Standard status
Active
Size
81,640 SF
Lot size
38.30 Acres
Property subtype
INDUSTRIAL
Zoning
I-2
Warehouse & Industrial
Clear Height
18 ft
Office Build-Out
9,360 SF
Dock-High Doors
2
Drive-In Doors
6
Additional Details
Road Access
Yes
Building Details
Year Built
1958
Buildings
1
Building Size
81,640 SF
Listing Agency:
CBRE | Cleveland
(216) 687-1800
Listed By:
Mike Petrigan, SIOR
(216) 363-6435
Source:
Moodyscre
Added: Apr 29, 2025
Changed: Aug 14
Last Checked: Sep 13 at 11:08AM
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 CBRE | Cleveland
Investment Insights
Based on property information with market context.
A 81,640 SF industrial truck terminal built in 1958 offering 2 docks and 6 drive-in doors. The facility includes 18’ clear height and 9,360 SF of office space, set on 38.3 acres of land.
The property sits right off Baumhart Road with 664’ of frontage. It is located about 1.2 miles to Route 2 and 3.6 miles to I-90, positioned between Cleveland and Toledo.
The site is zoned for Heavy Industrial (I-2) and is part of the City of Lorain’s Community Reinvestment Area (Area 4).
The property sits right off Baumhart Road with 664’ of frontage. It is located about 1.2 miles to Route 2 and 3.6 miles to I-90, positioned between Cleveland and Toledo.
The site is zoned for Heavy Industrial (I-2) and is part of the City of Lorain’s Community Reinvestment Area (Area 4).
Key Highlights
- 81,640 SF industrial truck terminal on 38.3 acres at 7451 Terminal Drive.
- Truck terminal built in 1958 with 2 docks and 6 drive‑ins.
- 18' clear height industrial space.
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
$308,417
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
8.22%
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%
$6,168,340
$6.2M
Cap Rate 7%
$4,405,957
$4.4M
Cap Rate 9%
$3,426,856
$3.4M
Market Conditions
NOI Build-Up for 81,640 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
$458.0K $5.61/SF
− Vacancy
−$17.4K −$0.21/SF
EGI
$440.6K $5.40/SF
− OpEx
−$132.2K −$1.62/SF
NOI
$308.4K $3.78/SF
Area
Lorain County, OH
Vacancy
3.80%
Lease Rate
$5.61 /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%
$6,168,340
Cap Rate 7%
$4,405,957
Cap Rate 9%
$3,426,856
Alternative Uses
Best Use
Warehouse
$5.35M
$4.68M – $6.24M
NOI $374,507 @ 7.0% cap · market cap 9.99%
Second Best
Industrial
$4.41M
$3.86M – $5.14M
NOI $308,417 @ 7.0% cap · market cap 8.22%
Theoretical Best
Office A
$20.57M
$18.00M – $24.00M
NOI $1,440,130 @ 7.0% cap · market cap 38.40%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
18 ft
Clear height
2
Dock-high doors
6
Drive-in doors
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
547
Businesses Nearby
Explore this area
Business Placement
Demographics for 44053, OH
20,735
Population
9,529
Households
2.2
Avg Household Size
44
Median Age
21%
College-Educated
91%
High-School Grad
10.8 sq mi
ZIP Area
1,920
Density / Sq Mi
$65,332
Median Household Income
$43,654
Median Earnings
$827
Median Rent
$189,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Truck terminal - Industrial truck terminal on 38.3 acres with two docks, six drive-ins, 18' clear height, and 9,360 SF offices.
Where is this truck terminal located?
The property is located at 7451 Terminal Dr Lorain, OH.
What is the asking price?
The asking price for this property is $3,750,000.
What are key features of this property?
This property features: 81,640 SF industrial truck terminal on 38.3 acres at 7451 Terminal Drive.; Truck terminal built in 1958 with 2 docks and 6 drive‑ins.; 18' clear height industrial space.
