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    1030 W Smith Rd Medina, OH 44256
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    Property profile & analytics

    1030 W Smith Rd Medina, OH 44256

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    • Manufacturing properties
    • 46,520 SF
    • 6.65 lot acres
    For Lease
    $4 SF/Yr
    View Listing →
    Medina Warehouse Space Available For Lease
    $4 SF/Yr
    50,000 SF

    Medina Warehouse Space Available

    50000 SF warehouse space for lease in Medina, OH.

    1030 W Smith Rd, Medina, OH
    View Listing
    Property ID
    US66-2764768
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Ovation Polymers Inc. / Industrial Manufacturer / Production Facility
    • Cialis Genà ricos Por Telà fono / Industrial Manufacturer / Production Facility

    Property Details for 1030 W Smith Rd

    Year built
    1987
    Lot size
    6.65 lot acres
    Property size
    46,520 SF
    Property type
    Manufacturing properties
    APN
    028-19C-02-025
    APU
    02819C02025

    Description

    This exceptional 50,000 square foot industrial property, located at 1030 W Smith Rd, Medina, OH 44256, presents a significant investment opportunity. The single-story building, constructed in 1987, sits on a substantial 6.656-acre lot and is zoned I-1. The property features a single tenancy and is ideal for warehouse and manufacturing operations. With its spacious layout and convenient location in Medina, Ohio, this asset offers significant potential for a variety of industrial uses. The property's APN is 02819C02025. The asking price is $2,950,000. Medina is consistently ranked highly for its low crime rate, excellent schools, affordable housing, and low cost of living, making it an attractive location for businesses and employees alike. This property offers a rare combination of size, location, and functionality within a thriving community. The property consists of one building.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $2,156,000
      Market price range: $1.53M - $6.46M

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Medina
    County
    Medina
    State
    Ohio
    Longitude
    -81.8966
    Latitude
    41.1343
    CBSA code
    17460
    CBSA name
    CLEVELAND-ELYRIA-MENTOR, OH METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $30,672
    $98,850
    $426,770
    $525,620
    -
    $282,440
    $1,219,350
    $1,501,790

    Comparable in this City

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      7,200 SF

      4170 Pearl Rd

      MANUFACTURING (LIGHT) • 7,200 SF
      4170 Pearl Rd, Medina, OH 44256-7648
      View Details
    • Value Estimation by Request
      7,424 SF

      2628 Pearl Rd

      MANUFACTURING (LIGHT) • 7,424 SF
      2628 Pearl Rd, Medina, OH 44256-7623
      View Details
    • Value Estimation
      $1,510,000
      34,080 SF

      180 Commerce Dr

      MANUFACTURING (LIGHT) • 34,080 SF
      180 Commerce Dr, Medina, OH 44256-3949
      View Details
    • Value Estimation by Request
      8,950 SF

      1080 Industrial Pkwy

      MANUFACTURING (LIGHT) • 8,950 SF
      1080 Industrial Pkwy, Medina, OH 44256-2449
      View Details
    • Value Estimation
      $690,000
      15,133 SF

      1027 Industrial Pkwy

      HEAVY MANUFACTURING • 15,133 SF
      1027 Industrial Pkwy, Medina, OH 44256-2448
      View Details

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      7,200 SF

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      View Details
    • $2,000,000
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    Similar Nearby for Lease

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      Medina Road Commercial Space

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      Storage Spaces For Rent

      Three storage spaces available with heating, cooling, and security.
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      Industrial Space with Dock Doors

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      Medina Commercial Space For Lease

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      Warehouse Space with Highway Access

      Warehouse space for lease with shared amenities and highway access.
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      View Details
    View Listing
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    Medina, OH 44256
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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
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