Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    24.38 Acres of Land Title is generated by Realmo AI

    Corduroy Rd at Blue Heron Dr, Oregon, OH 43616

    View on Map
    Claim this Listing
    For Sale
    Contact for pricing

    Land for manufacturing and warehousing development in Oregon, Ohio.

    Type:Land
    Lot size:
    24.38 Acres
    Added:
    Nov 15, 2023
    Days on Market:
    929
    Last Refresh:
    May 12 at 8:59 pm

    Property Features for Corduroy Rd at Blue Heron Dr

    General Information

    Standard status
    Active
    Lot size
    24.38 Acres
    Property subtype
    Land

    We can help!

    Listing Contact
    Joshua D. Payzant
    Joshua D. Payzant

    Listing agent Joshua D. Payzant License #OH SAL.2016003142

    Listing office NAI Harmon Group

    Listing date Nov 15, 2023

    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 NAI Harmon Group

    HighLights

    • 24.38 acres of land available, ideal for manufacturing and warehousing development.
    • Close proximity to industrial park.
    • Convenient access to major highways (SR 2, I‑280, I‑75).
    • Located in Oregon, Ohio.
    • Proximity to hospitals (ProMedica Bay Park, Mercy St Charles).

    Overview

    This offering comprises 24.38 acres of land suitable for manufacturing and warehousing development. The property is located in Oregon, Ohio, and is positioned in close proximity to an industrial park. Its location offers convenient access to transportation routes and local amenities. Specifically, the site is 2.3 miles from State Route 2, 3.1 miles from Interstate 280, and 6 miles from Interstate 75. Additionally, it is located 4.5 miles from ProMedica Bay Park Hospital and 3.6 miles from Mercy St Charles Hospital.
    Location Intelligence

    Current Use by Public Records

    Industrial land

    Map

    City
    Oregon
    County
    Lucas
    State
    Ohio
    Longitude
    -83.4472
    Latitude
    41.655

    Nearby Similar for Sale

    • $1,280,000

      42 Acres Development Land

      Two parcels totaling 42 acres, ideal for development.
      5538 Navarre Ave, Oregon, OH
      View Details
    • Contact for pricing

      Established Coffee Shop Investment Opportunity

      Long-term leased coffee shop with franchisee guarantee.
      2655 Navarre Ave, Oregon, OH 43616
      View Details
    • $299,000
      1,146 SF

      Freestanding Retail Building with Billboard

      Well-maintained retail building with high exposure and digital billboard.
      2310 Woodville Rd, Oregon, OH
      View Details
    • $475,000

      42 Acres Industrial Land Available

      42 acres of industrial land with rail access.
      900 Stadium Rd, Oregon, OH 43616
      View Details
    • Contact for pricing

      Former Dental Office For Sale

      First-floor office in mixed-use building with ample parking.
      3015 Navarre Avenue, Oregon, OH 43616
      View Details
    • $179,000

      Versatile Land Parcel on SR2

      Land with frontage on SR2 and North Curtice Rd.
      7330 Jerusalem Road, Oregon, OH 43616
      View Details
    • Contact for pricing
      2,484 SF

      Freestanding Restaurant Building For Lease

      Freestanding restaurant building with high visibility and ample parking.
      2412 Woodville Rd, Oregon, OH
      View Details
    • $995,000

      16.25 Acres Development Opportunity

      Ideal development site for mixed-use or new auto sales.
      4440-4452 Navarre Ave, Oregon, OH
      View Details
    • $35,000

      Industrial Land Near Refineries

      Industrial land with utilities near major manufacturing and refineries.
      5255 Cedar Point Rd, Oregon, OH 43616
      View Details
    • Contact for pricing
      14,440 SF

      Industrial Property on York Street

      14,440 SF industrial property available for sale.
      3145 York Street, Oregon, OH 43605
      View Details
    • $25,000

      Vacant Land For Sale

      Vacant land available for sale in Oregon, OH.
      2716 Hayden Street, Oregon, OH 43616
      View Details
    • $249,900

      2.39 Acres Buildable Land

      Buildable land on heavily traveled road near retail.
      3736 Navarre Avenue, Oregon, OH 43616
      View Details

    FAQs

    What type of property is this?
    Industrial land - Land for manufacturing and warehousing development in Oregon, Ohio.
    Where is this industrial land located?
    The property is located at Corduroy Rd at Blue Heron Dr Oregon, OH.
    What is the asking price?
    The asking price for this property is $853,300.
    What are key features of this property?
    This property features: 24.38 acres of land available, ideal for manufacturing and warehousing development.; Close proximity to industrial park.; Convenient access to major highways (SR 2, I‑280, I‑75).
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Joshua D. Payzant
    Joshua D. Payzant
    Real Estate License ID: OH SAL.2016003142
    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

    Thank You for Inquiry
    Corduroy Rd at Blue Heron Dr, Oregon, OH 43616
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!