Listing Agency: CBRE | Cleveland Show Phone

Listed By: Mark Truesdell · License #OH2109006434 Show Phone

Source: Moodyscre

Added: Jul 28 Changed: Oct 25 Last Checked: Nov 1 at 6:12AM

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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 / Yr

$30,917

Cap Rate

3.94%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$618,340 $618.3K

Cap Rate 7%

$441,671 $441.7K

Cap Rate 9%

$343,522 $343.5K

Is this asking price fair?

Market Conditions

NOI Build-Up for 7,800 SF

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 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. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

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

Similar For Sale Nearby

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Flex Office-Warehouse Building

9011 Freeway Drive, Macedonia, OH 44056

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30,057 SF

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Office-Warehouse Flex Space

360 Highland Rd, Macedonia, OH 44056

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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