Industrial Warehouse With Rail
New
For Sale
$1,100,000
816 Milan St N, Canal Fulton, OH 44614
Fenced industrial property with warehouse, office, loading, crane, and cold-storage improvements.
Property Size20,600 SF
Lot Size3.70 Acres
Price / SF$53.40
Days on Market2
Property Features for 816 Milan St N
General Information
Standard status
Active
Size
20,600 SF
Lot size
3.70 Acres
Zoning
I-1
Site & Location
Fenced Yard
Yes
Utilities to Site
Yes
Warehouse & Industrial
Clear Height
13.5 ft
Warehouse Space
14,000 SF
Office Build-Out
1,800 SF
Dock-High Doors
6
Rail Access
Yes
Voltage
480 V
Cold Storage
Yes
Cold Storage Area
4,800 SF
Amenities
Air lines
ProTec alert system
Building Details
Year Built
1910
Buildings
2
Listing Agency:
Kiko
(330) 614-2478
Listed By:
Colton J Kiko · License #2019001100
Source:
Groganzeiger
Added: Aug 29
Changed: Aug 30
Last Checked: Aug 30 at 8:47AM
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 Kiko
Investment Insights
Based on property information with market context.
This industrial warehouse property spans 20,000+ square feet across 3.7 acres and carries I-1 industrial zoning. The primary building contains 14,000+ square feet of heated warehouse area with 13’6” ceilings, six exterior loading docks, two 5-ton overhead cranes, and air lines throughout. Recent improvements include concrete floors, 480V electric service, gas radiant tube heat, and fireproof walls and doors with a ProTec alert system. An 1,800-square-foot climate-controlled office component provides five separate rooms and bathrooms.
A separate 60’x80’ cold-storage pole building adds concrete floors and electric service. The site includes water, sewer, and natural gas utilities, a 5-foot chain-link perimeter fence with two gates, and railroad siding on the R.J. Corman railroad. The property is currently operating as a pallet facility and is located in Canal Fulton, Ohio, within 30 minutes of Akron, Canton, Medina, and Wooster.
A separate 60’x80’ cold-storage pole building adds concrete floors and electric service. The site includes water, sewer, and natural gas utilities, a 5-foot chain-link perimeter fence with two gates, and railroad siding on the R.J. Corman railroad. The property is currently operating as a pallet facility and is located in Canal Fulton, Ohio, within 30 minutes of Akron, Canton, Medina, and Wooster.
Key Highlights
- 20,000+ sq. ft. industrial facility on 3.7 acres with I‑1 zoning
- 14,000+ sq. ft. heated warehouse with 13’6” ceilings
- Six exterior loading docks and two 5‑ton overhead cranes
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
$84,513
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
7.68%
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%
$1,690,260
$1.7M
Cap Rate 7%
$1,207,329
$1.2M
Cap Rate 9%
$939,033
$939.0K
Market Conditions
NOI Build-Up for 20,600 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
$101.1K $4.91/SF
− Vacancy
−$1.7K −$0.08/SF
EGI
$99.4K $4.83/SF
− OpEx
−$14.9K −$0.72/SF
NOI
$84.5K $4.10/SF
Area
Stark County, OH
Vacancy
1.70%
Lease Rate
$4.91 /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%
$1,690,260
Cap Rate 7%
$1,207,329
Cap Rate 9%
$939,033
Alternative Uses
Best Use
Warehouse
$1.21M
$1.06M – $1.41M
NOI $84,513 @ 7.0% cap · market cap 7.68%
Second Best
Industrial
$994.3K
$870.0K – $1.16M
NOI $69,599 @ 7.0% cap · market cap 6.33%
Theoretical Best
Retail
$5.38M
$4.71M – $6.27M
NOI $376,492 @ 7.0% cap · market cap 34.23%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
13 ft
Clear height
6
Dock-high doors
Yes
Fenced yard
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
180
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 44614, OH
12,922
Population
5,961
Households
2.2
Avg Household Size
44
Median Age
29%
College-Educated
96%
High-School Grad
22.8 sq mi
ZIP Area
567
Density / Sq Mi
$83,143
Median Household Income
$47,580
Median Earnings
$932
Median Rent
$201,700
Median Home Value
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Warehouse - Fenced industrial property with warehouse, office, loading, crane, and cold-storage improvements.
Where is this warehouse located?
The property is located at 816 Milan St N Canal Fulton, OH.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: 20,000+ sq. ft. industrial facility on 3.7 acres with I‑1 zoning; 14,000+ sq. ft. heated warehouse with 13’6” ceilings; Six exterior loading docks and two 5‑ton overhead cranes
