Cleveland Industrial Investment
6707 Bessemer Ave Cleveland, OH 44127
For Sale
Contact for pricing
Industrial property with a 7-year leaseback in Cleveland.
Property Size23,722 SF
Price / SF$67.45
Days on Market659
Property Features for 6707 Bessemer Ave
General Information
- Standard status
- Active
- Size
- 23,722 SF
- Property subtype
- Industrial
Building Details
- Year Built
- 1972
Listing Agency:
Trinity Commercial Realty
Listed By:
Gary Pescatrice · License #OH 0000241394
Source:
Crexi
Added: Oct 4, 2024
Changed: Jul 6
Last Checked: Jul 22 at 10:42AM
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 Trinity Commercial Realty
Investment Insights
Based on property information with market context.
This industrial property, located in the southeastern part of the Cleveland Industrial District, presents an investment opportunity with a 7-year leaseback. The property offers convenient access to Highways 490, I-77, and I-90. The building has a size of 23,722 square feet.
Key Highlights
- Investment Opportunity with 7‑Year Leaseback
- Located in Cleveland Industrial District
- Close Proximity to Highways 490, I‑77 & I‑90
Financial Insights For Industrial
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $145.2k | $6.12 |
| − Vacancy | −$6.0k | −$0.25 |
| EGI | $139.2k | $5.87 |
| − OpEx | −$41.8k | −$1.76 |
| NOI | $97.5k | $4.11 |
23,722 SF · lease $6.12/SF/yr · vacancy 4.10% · expense 30.00%
Alternative Uses
Best Use
Industrial
$1.39M
$1.22M – $1.62M
NOI $97,458 @ 7.0% cap · market cap 6.09%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$5.79M
$5.07M – $6.75M
NOI $405,225 @ 7.0% cap · market cap 25.33%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Averitt Express Drop ...
Parking Lot & Garage
Protrans
Freight Service
Cleveland Delivery
Trucking Company
FAQs
What type of property is this?
Industrial property - Industrial property with a 7-year leaseback in Cleveland.
Where is this industrial property located?
The property is located at 6707 Bessemer Ave Cleveland, OH.
What is the asking price?
The asking price for this property is $1,600,000.
What are key features of this property?
This property features: Investment Opportunity with 7‑Year Leaseback; Located in Cleveland Industrial District; Close Proximity to Highways 490, I‑77 & I‑90
