Flex Property with Covered
For Sale
Contact for pricing
8367 Overton Rd, Burbank, OH 44214
Two buildings offer heated workspace, overhead access, and a covered outdoor structure.
Property Size5,570 SF
Price / SF$48.29
Days on Market142
Property Features for 8367 Overton Rd
General Information
Standard status
Active
Size
5,570 SF
Property subtype
Industrial
Additional Details
Utilities to Site
Yes
Three-Phase Power
Yes
Building Details
Buildings
3
Listing Agency:
Renfrow Realty, LLC.
(330) 416-0352
Listed By:
Jim Renfrow · License #OH 2020004632
Source:
Crexi
Added: Apr 11
Changed: Aug 30
Last Checked: Apr 24 at 10:14PM
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 Renfrow Realty, LLC.
Investment Insights
Based on property information with market context.
Located at 8367 Overton Rd in Burbank, Ohio, this flex property includes two separate buildings and a substantial covered pavilion. The first building measures 30' x 40' and includes a small bathroom, an approximately 11'-10" ceiling, a man door, an 11' high x 14' wide overhead door, a 9'6" high x 10'6" wide sliding door, and a Reznor heater.
The second building measures 30' x 39' with an attached 10' x 20' rear room. Its main area has an approximately 15' ceiling, a man door, and a front wall designed to slide fully open. The 60' x 50' pavilion has an approximately 14' ceiling. The property is served by well, septic, gas, and three-phase electric. Electric service will be separated from the remaining building before closing.
The second building measures 30' x 39' with an attached 10' x 20' rear room. Its main area has an approximately 15' ceiling, a man door, and a front wall designed to slide fully open. The 60' x 50' pavilion has an approximately 14' ceiling. The property is served by well, septic, gas, and three-phase electric. Electric service will be separated from the remaining building before closing.
Key Highlights
- Two‑building flex property with a 60' x 50' covered pavilion
- Building 1 measures 30' x 40' and includes a small bathroom
- Building 1 has an 11' high x 14' wide overhead door
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
$22,888
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
8.51%
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%
$457,760
$457.8K
Cap Rate 7%
$326,971
$327.0K
Cap Rate 9%
$254,311
$254.3K
Market Conditions
NOI Build-Up for 5,570 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
$35.7K $6.41/SF
− Vacancy
−$3.0K −$0.54/SF
EGI
$32.7K $5.87/SF
− OpEx
−$9.8K −$1.76/SF
NOI
$22.9K $4.11/SF
Area
Wayne 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%
$457,760
Cap Rate 7%
$326,971
Cap Rate 9%
$254,311
Alternative Uses
Best Use
Warehouse
$397.0K
$347.4K – $463.2K
NOI $27,793 @ 7.0% cap · market cap 10.33%
Second Best
Industrial
$327.0K
$286.1K – $381.5K
NOI $22,888 @ 7.0% cap · market cap 8.51%
Theoretical Best
Multifamily LT 5
$4.07M
$3.56M – $4.75M
NOI $284,970 @ 7.0% cap · market cap 105.94%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
6
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 44214, OH
2,149
Population
776
Households
2.8
Avg Household Size
43
Median Age
14%
College-Educated
94%
High-School Grad
26.4 sq mi
ZIP Area
81
Density / Sq Mi
$87,381
Median Household Income
$45,479
Median Earnings
$810
Median Rent
$212,200
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?
Flex space - Two buildings offer heated workspace, overhead access, and a covered outdoor structure.
Where is this flex space located?
The property is located at 8367 Overton Rd Burbank, OH.
What is the asking price?
The asking price for this property is $269,000.
What are key features of this property?
This property features: Two‑building flex property with a 60' x 50' covered pavilion; Building 1 measures 30' x 40' and includes a small bathroom; Building 1 has an 11' high x 14' wide overhead door
