Listing Agency: CBRE | Cleveland

Listed By: George Stevens, SIOR, CCIM Show Phone

Source: Moodyscre

Added: Jul 28 Changed: Sep 17 Last Checked: Sep 16 at 6:22PM

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Investment Insights

Based on property information with market context.

This industrial property includes 7800 square feet of commercial space at 8601 S Freeway Dr in Macedonia, Ohio. The asset is positioned within a regional business area connected by major highways serving Cleveland and Akron.

Key Highlights

• 7800 square feet of industrial property
• Located at 8601 S Freeway Dr, Macedonia, OH 44056
• Regional highway connections serving Cleveland and Akron

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

$30,917

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

3.94%

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%

$618,340 $618.3K

Cap Rate 7%

$441,671 $441.7K

Cap Rate 9%

$343,522 $343.5K

Market Conditions

NOI Build-Up for 7,800 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

$45.9K $5.88/SF

− Vacancy

−$1.7K −$0.22/SF

EGI

$44.2K $5.66/SF

− OpEx

−$13.3K −$1.70/SF

NOI

$30.9K $3.96/SF

Area

Summit County, OH

Vacancy

3.70%

Lease Rate

$5.88 /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%

$618,340

Cap Rate 7%

$441,671

Cap Rate 9%

$343,522

Alternative Uses

Best Use

Industrial

$441.7K

$386.5K – $515.3K (±1% cap)

NOI $30,917 @ 7.0% cap · market cap 3.94%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$1.91M

$1.67M – $2.23M (±1% cap)

NOI $133,993 @ 7.0% cap · market cap 17.07%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Gutter Filter Cleveland Hardware & Home Improvement DunRite Exteriors Roofing Company K-Guard Cleveland General Contractor

Suggested Use

Top Pick Real Estate Agency Law Firm Big Box & Wholesale Store Auto Repair Shop Storage Facility HVAC Service

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

442

Businesses Nearby

Explore this area Business Placement

Demographics for 44056, OH

12,156

Population

4,898

Households

2.5

Avg Household Size

47

Median Age

41%

College-Educated

94%

High-School Grad

9.8 sq mi

ZIP Area

1,240

Density / Sq Mi

$108,059

Median Household Income

$51,731

Median Earnings

$2,024

Median Rent

$294,500

Median Home Value

Market

Vacancy Rate% for Industrial in Midwest region

4.4% 2019

4.9% 2020

3.6% 2021

3.1% 2022

4.6% 2023

5% 2024

4.9% 2025

Questions? Ask Rey

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Frequently Asked Questions

What type of property is this?

Industrial property - Industrial property in Macedonia, Ohio, with access to regional highway connections.

Where is this industrial property located?

The property is located at 8601 S Freeway Dr Macedonia, OH.

What is the asking price?

The asking price for this property is $785,000.

What are key features of this property?

This property features: 7800 square feet of industrial property; Located at 8601 S Freeway Dr, Macedonia, OH 44056; Regional highway connections serving Cleveland and Akron