Building Details

Year Built 1997

Year Renovated 2022

Buildings 6

Stories 1

Tenancy Single

Listing Agency: Signature Associates Toledo

Listed By: Robert Mack · License #Ohio and Michigan Show Phone

Source: Crexi

Added: Mar 28, 2024 Changed: Oct 26 Last Checked: Oct 24 at 5:56PM

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Investment Insights

Based on property information with market context.

An industrial property is available for sale. The property has a size of 99036 square feet.

Key Highlights

• Year Built: 1997

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$406,958

Cap Rate

4.79%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$8,139,160 $8.1M

Cap Rate 7%

$5,813,686 $5.8M

Cap Rate 9%

$4,521,756 $4.5M

Is this asking price fair?

Market Conditions

NOI Build-Up for 99,036 SF

Gross rent

$634.8K $6.41/SF

− Vacancy

−$53.5K −$0.54/SF

EGI

$581.4K $5.87/SF

− OpEx

−$174.4K −$1.76/SF

NOI

$407.0K $4.11/SF

Area

Erie 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 Rate 5%

$8,139,160

Cap Rate 7%

$5,813,686

Cap Rate 9%

$4,521,756

Alternative Uses

Best Use

Industrial

$5.81M

$5.09M – $6.78M (±1% cap)

NOI $406,958 @ 7.0% cap · market cap 4.79%

Second Best

—

—

no second resolved use

Theoretical Best

Multifamily LT 5

$1,089.88M

$953.65M – $1,271.53M (±1% cap)

NOI $76,291,656 @ 7.0% cap · market cap 897.55%

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

Industrial properties

Suggested Use

Top Pick Real Estate Agency Building Supply Dental Office Law Firm Big Box & Wholesale Store Spa & Massage Center

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

93

Businesses Nearby

Explore this area Business Placement

Demographics for 44839, OH

12,472

Population

6,786

Households

1.8

Avg Household Size

50

Median Age

40%

College-Educated

97%

High-School Grad

36.1 sq mi

ZIP Area

345

Density / Sq Mi

$77,377

Median Household Income

$40,250

Median Earnings

$888

Median Rent

$234,700

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

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Frequently Asked Questions

What type of property is this?

Industrial property - Industrial property available for sale.

Where is this industrial property located?

The property is located at 1611 Sawmill Pkwy Huron, OH.

What is the asking price?

The asking price for this property is $8,500,000.

What are key features of this property?

This property features: Year Built: 1997