Distribution Center on
For Sale
$1,435,000
8101 Union Avenue, Cleveland, OH 44105
Industrial distribution facility offering substantial land area for commercial operations.
Property Size18,400 SF
Lot Size8.00 Acres
Price / SF$77.99
Days on Market62
Property Features for 8101 Union Avenue
General Information
Standard status
Active
Size
18,400 SF
Lot size
8.00 Acres
Property subtype
Industrial
Building Details
Building Size
18,400 SF
Listing Agency:
CBRE - Cleveland
Listed By:
Mike Petrigan · License #SAL.0000435412
(216) 363-6435
Source:
Cbre
Added: Jul 3
Changed: Aug 31
Last Checked: Sep 2 at 1:12PM
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.
This distribution center comprises an 18,400-square-foot facility situated on 8 acres. The property is located at 8101 Union Avenue in Cleveland, Ohio, 44105.
Key Highlights
- 18,400‑square‑foot distribution facility
- Situated on 8 acres
- 8101 Union Avenue location in Cleveland, OH 44105
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
$91,792
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
6.40%
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%
$1,835,840
$1.8M
Cap Rate 7%
$1,311,314
$1.3M
Cap Rate 9%
$1,019,911
$1.0M
Market Conditions
NOI Build-Up for 18,400 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
$112.6K $6.12/SF
− Vacancy
−$4.6K −$0.25/SF
EGI
$108.0K $5.87/SF
− OpEx
−$16.2K −$0.88/SF
NOI
$91.8K $4.99/SF
Area
Cleveland, OH
Vacancy
4.10%
Lease Rate
$6.12 /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%
$1,835,840
Cap Rate 7%
$1,311,314
Cap Rate 9%
$1,019,911
Alternative Uses
Best Use
Warehouse
$1.31M
$1.15M – $1.53M
NOI $91,792 @ 7.0% cap · market cap 6.40%
Second Best
Industrial
$1.08M
$944.9K – $1.26M
NOI $75,594 @ 7.0% cap · market cap 5.27%
Theoretical Best
Office A
$4.49M
$3.93M – $5.24M
NOI $314,313 @ 7.0% cap · market cap 21.90%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
478
Businesses Nearby
Explore this area
Business Placement
Demographics for 44105, OH
34,100
Population
17,528
Households
1.9
Avg Household Size
38
Median Age
11%
College-Educated
83%
High-School Grad
8.9 sq mi
ZIP Area
3,831
Density / Sq Mi
$38,294
Median Household Income
$32,389
Median Earnings
$888
Median Rent
$56,400
Median Home Value
Market
Vacancy Rate% for Industrial in Cleveland, OH
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Distribution center - Industrial distribution facility offering substantial land area for commercial operations.
Where is this distribution center located?
The property is located at 8101 Union Avenue Cleveland, OH.
What is the asking price?
The asking price for this property is $1,435,000.
What are key features of this property?
This property features: 18,400‑square‑foot distribution facility; Situated on 8 acres; 8101 Union Avenue location in Cleveland, OH 44105
