Warehouse with Finished Office
For Sale
Contact for pricing
8028 Newark Road, Mount Vernon, OH 43050
Versatile warehouse facility with two loading docks and about 800 sq. ft. of finished office space on 4 acres.
Property Size11,368 SF
Price / SF$48.32
Days on Market167
Property Features for 8028 Newark Road
General Information
Standard status
Active
Size
11,368 SF
Property subtype
Mixed Use, Office, Industrial, Special Purpose, Retail
Building Details
Year Renovated
2024
Listing Agency:
M3K Real Estate Network Inc.
Listed By:
Michelle L Stevenson · License #2021006008
Source:
Crexi
Added: Mar 24
Changed: Aug 21
Last Checked: Sep 2 at 7:41AM
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 M3K Real Estate Network Inc.
Investment Insights
Based on property information with market context.
This for-sale warehouse and industrial facility offers a total building area of 11,368 square feet on 4 acres. The property includes two loading docks for shipping and receiving and approximately 800 square feet of finished office space for administrative functions. It also features three separate heating zones, including a boiler system serving the main office and natural gas heat in the storage areas, with a boiler about 10 years old and gas furnaces about 15 years old. The facility is serviced by a septic sewer system.
Recent improvements include new flooring in 2024, new toilets and bath plumbing in 2024, fresh paint in the office areas in 2024, and new metal and shingle roofing on the front and sides in 2024. Additional roof sections were replaced in 2019.
The combination of loading capacity, dedicated office space, multiple heating zones, and updated building components supports a wide range of operational storage and industrial use scenarios.
Recent improvements include new flooring in 2024, new toilets and bath plumbing in 2024, fresh paint in the office areas in 2024, and new metal and shingle roofing on the front and sides in 2024. Additional roof sections were replaced in 2019.
The combination of loading capacity, dedicated office space, multiple heating zones, and updated building components supports a wide range of operational storage and industrial use scenarios.
Key Highlights
- 11,368 sq. ft. warehouse/industrial facility on 4 acres, offering space for operations and storage
- Two loading docks for efficient shipping and receiving
- About 800 sq. ft. finished office space for administrative use
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
$46,713
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
8.50%
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%
$934,260
$934.3K
Cap Rate 7%
$667,329
$667.3K
Cap Rate 9%
$519,033
$519.0K
Market Conditions
NOI Build-Up for 11,368 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
$72.9K $6.41/SF
− Vacancy
−$6.1K −$0.54/SF
EGI
$66.7K $5.87/SF
− OpEx
−$20.0K −$1.76/SF
NOI
$46.7K $4.11/SF
Area
Knox 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%
$934,260
Cap Rate 7%
$667,329
Cap Rate 9%
$519,033
Alternative Uses
Best Use
Office B
$1.86M
$1.63M – $2.17M
NOI $130,340 @ 7.0% cap · market cap 23.73%
Second Best
Warehouse
$810.3K
$709.0K – $945.4K
NOI $56,723 @ 7.0% cap · market cap 10.33%
Theoretical Best
Specialty Retail
$3.17M
$2.77M – $3.70M
NOI $221,961 @ 7.0% cap · market cap 40.41%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
27
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 43050, OH
29,594
Population
13,416
Households
2.2
Avg Household Size
42
Median Age
25%
College-Educated
93%
High-School Grad
154.1 sq mi
ZIP Area
192
Density / Sq Mi
$65,044
Median Household Income
$38,709
Median Earnings
$933
Median Rent
$199,000
Median Home Value
Market
Vacancy Rate% for Office 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?
Flex space - Versatile warehouse facility with two loading docks and about 800 sq. ft. of finished office space on 4 acres.
Where is this flex space located?
The property is located at 8028 Newark Road Mount Vernon, OH.
What is the asking price?
The asking price for this property is $549,316.
What are key features of this property?
This property features: 11,368 sq. ft. warehouse/industrial facility on 4 acres, offering space for operations and storage; Two loading docks for efficient shipping and receiving; About 800 sq. ft. finished office space for administrative use
