Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    720 Highland Rd Macedonia, OH 44056

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    146,250 SF industrial complex with manufacturing amenities on 6.35 acres.

    Type:Industrial
    Property size:
    146,250 SF
    Lot size:
    6.35 Acres
    Added:
    Sep 6, 2024
    Days on Market:
    590
    Last Refresh:
    Mar 17 at 1:22 pm

    Property Features for 720 Highland Rd

    General Information

    Standard status
    Active
    Size
    146,250 SF
    Lot size
    6.35 Acres
    Property subtype
    Industrial

    Building Details

    Year Built
    1982

    Spaces For Lease

    at 720 Highland Rd Contact us

    Available Space $6 /Mo

    Size
    146,250 SF
    Type
    Industrial
    Contact us

    We can help!

    Listing Contact
    Eliot Kijewski

    Listing agent Eliot Kijewski License #OH SAL.2003003809

    Listing office Cushman & Wakefield CRESCO Real Estate

    Listing date Sep 6, 2024

    Source Crexi

    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 Cushman & Wakefield CRESCO Real Estate

    Overview

    Macedonia Industrial Complex For Rent

    This freestanding industrial complex offers 146,250 square feet, including 17,904 square feet of office space and 128,346 square feet of warehouse and manufacturing space, situated on 6.35 acres. The property features eight drive-in doors with dimensions of 10’x12’, 10’x18’, 12’x14’, and 14’x18’, along with fourteen truck docks, six internal and eight external. Manufacturing amenities include shop restroom and locker rooms, air line distribution, a 2-ton crane, a 3-ton crane, and 6000A / 480V / 3P power with buss duct distribution throughout.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Manufacturing properties

    Suggested Use

    Restaurant Law Firm Building Supply Big Box & Wholesale Store Auto Repair Shop Hotel & Motel Auto Parts Store Gym & Fitness Center Department Store Kitchen & Bath Showroom

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

    Location Insight

    • Map
    • Local Demand
    City
    Macedonia
    County
    Summit
    State
    Ohio
    Longitude
    -81.5011634
    Latitude
    41.2982545

    Nearby Similar for Lease

    • Contact for pricing

      Freestanding Restaurant in Macedonia Commons

      Highly visible 5,000 SF restaurant space for lease.
      8250 Macedonia Commons Blvd, Macedonia, OH
      View Details
    • $6/mo

      Macedonia Warehouse with Route Access

      Warehouse space with convenient access to major routes.
      7791 Capital Boulevard, Macedonia, OH 44056
      View Details
    • Contact for pricing

      Retail Space in Macedonia Commons

      Retail space available in a dynamic shopping center.
      8161 Macedonia Commons Blvd, Macedonia, OH
      View Details
    • Contact for pricing

      Retail Space For Lease

      Retail space available for lease in Macedonia, Ohio.
      746 E Aurora Rd, Macedonia, OH
      View Details
    • Contact for pricing

      Retail Space in Macedonia Commons

      1,200 SF retail space in regional shopping center.
      8100 Macedonia Commons Blvd, Macedonia, OH
      View Details
    • Contact for pricing

      Macedonia Retail Anchor Space Available

      Retail anchor and inline spaces available in Macedonia, Ohio.
      470-500 E Aurora Rd, Macedonia, OH
      View Details
    • Contact for pricing

      Twinsburg/Macedonia Office/Warehouse Building

      Classy office/warehouse building in Twinsburg/Macedonia market.
      1333 Highland Rd, Macedonia, OH 44056
      View Details
    • Contact for pricing

      Macedonia Office Space Available

      Office space available for rent in Macedonia, Ohio.
      640 E Aurora Rd, Macedonia, OH
      View Details
    • Contact for pricing

      Former Store on Signalized Corner

      2,700 SF retail space in prime Northeast Ohio location.
      316 E Highland Rd, Macedonia, OH
      View Details
    • Contact for pricing

      Medical/Dental Office Space Available

      Medical or dental office space with high visibility.
      640 E Aurora Rd, Macedonia, OH 44056
      View Details
    • $23/mo

      Former Bank Building For Rent

      Former bank building suitable for restaurant, office, or retail use.
      1011 E Aurora Rd, Macedonia, OH
      View Details
    • Contact for pricing

      Retail Anchor Space Available

      21,555 SF anchor space with maximum visibility and access.
      500 E Aurora Rd, Macedonia, OH 44056
      View Details

    FAQs

    What type of property is this?
    Manufacturing property - 146,250 SF industrial complex with manufacturing amenities on 6.35 acres.
    Where is this manufacturing property located?
    The property is located at 720 Highland Rd Macedonia, OH.
    What are key features of this property?
    This property features: 146,250 SF Industrial Complex on 6.35 Acres; Features 14 Truck Docks (6 Internal, 8 External); Eight Drive‑In Doors for easy access
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Eliot Kijewski
    Real Estate License ID: OH SAL.2003003809
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!