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    785 Freedom St Ravenna, OH 44266

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    For Lease
    Contact for pricing

    60,420 SF Manufacturing Facility, Ohio

    Lot size:
    60,420 SF

    Property Features for 785 Freedom St

    General Information

    Property type
    Manufacturing properties
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    60,420 SF
    Total Rate
    27692.5

    Building Details

    Year Built/Renovated
    1947/2013
    Buildings
    2
    Stories
    1

    Spaces For Lease

    at 785 Freedom St, Ravenna, OH 44266 Contact us
    Unit Available Space 4

    $5 /Mo

    Size
    Contact us
    Unit Available Space 3

    $66 /Mo

    Size
    21,257 SF
    Contact us
    Unit Available Space 3

    $5 /Mo

    Size
    15,150 SF
    Contact us
    Unit Available Space 4

    $66 /Mo

    Size
    21,013 SF
    Contact us

    We can help!

    Listing Contact
    Dave Hall
    Dave Hall

    Listing Agency: Currie-Hall Investment Co Listing Agent: Dave Hall

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    This exceptional industrial property, located at 785 N Freedom St, Ravenna, OH 44266, offers a prime opportunity for manufacturing businesses. The property encompasses a substantial 60,420 square feet across two single-story buildings, constructed in 1947 and extensively renovated in 2013. The site sits on a generous 5.561-acre lot and is zoned I-1. The facility features a variety of space options, with a minimum divisible space of 21,013 square feet and a maximum contiguous space of 21,257 square feet. Currently, 33,612 square feet is available for lease. Building features include 18" eave height and 19'8" peak ceilings, providing ample vertical space. Loading and unloading is facilitated by three loading docks and one drive-in door. The property boasts robust electrical service with 400 Amp / 480 Volt 3-phase power. This well-maintained property presents a unique opportunity for businesses seeking a versatile and functional manufacturing space in a convenient location. The property's multiple suite configuration allows for flexibility in tenant needs. The address is 785 N Freedom St, Ravenna, OH 44266, and the APN is 31-316-10-00-141-000. This is a rare opportunity to secure a well-located, sizable manufacturing facility in a thriving Ohio market.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Catacel Corp Corporate Office CJM Warehouse Warehouse & Storage Johnson Matthey - Catacel ... Industrial Manufacturer Portage Industries Freedom ... Corporate Office

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Ravenna
    County
    Portage
    State
    Ohio
    Longitude
    -81.2332096
    Latitude
    41.1696286

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    FAQs

    What type of property is this?
    Manufacturing property - 60,420 SF Manufacturing Facility, Ohio
    Where is this manufacturing property located?
    The property is located at 785 Freedom St Ravenna, OH.
    What is the lease rate?
    The lease rate is $5-$66 SF/Yr.
    What are key features of this property?
    This property features: 5.56-acre parcel; APN: 31-316-10-00-141-000.; 60,420 SF total building area; 33,612 SF currently available.; Building A: 14,430 SF; Building B: 19,182 SF; Building C: 15,150 SF.
    (330) 842-0639 Call to check price and availability
    Request Owner's contact information
    785 Freedom St Ravenna, OH 44266
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    Ravenna, OH 44266
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    785 Freedom St Ravenna, OH 44266
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    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Dave Hall
    Dave Hall
    Real Estate License ID: 174198
    (330) 842-0639 (330) 650-0525
    Learn more
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