126 New Pace Rd Newcomerstown, OH 43832
- Warehouses
- 53,408 SF
- 2.56 lot acres
Current Use by Public Records
- Universal Wellhead Services Holdings / Oil Field Equipment Supplier / Industrial Equipment Supplier
Property Details for 126 New Pace Rd
- Year built
- 1971
- Lot size
- 2.56 lot acres
- Property size
- 53,408 SF
- Property type
- Warehouses
- APN
- 45-02442.000
- APU
- 4502442000
Description
This multi-tenant industrial warehouse, located at 126 New Pace Rd, Newcomerstown, OH 43832, presents a compelling value-add investment opportunity. The 55,500 square foot facility sits on a 2.557-acre lot and boasts 100% occupancy with three tenants under a gross lease. The current lease term has approximately 1.1 years remaining. The property features six loading docks and four drive-in doors, catering to diverse operational needs. Ceiling heights vary from 14 to 21 feet, with Bay #4 offering clear span construction. Electrical capacity is substantial, with Bay #1 featuring a 1200 Amp, 240 Volt, 3-Phase system and Bay #3 equipped with a 600 Amp, 480/277 Volt, 3-Phase system. A sprinkler system is in place throughout the building. Built in 1972, this fee simple ownership (land and building) offers a strong NOI of $211,667, resulting in an 8.82% cap rate at an asking price of $2,400,000 ($43.24/sq ft). No ground lease or lease options are available. This property is ideal for investors seeking immediate cash flow and potential for future value appreciation. The property is currently fully leased, providing a stable income stream.
Value Estimation
-
CAP approach
-
Comparable approach
-
Alternative Use
Location Insight
- Map
- Local Demand
- City
- Newcomerstown
- County
- Tuscarawas
- State
- Ohio
- Longitude
- -81.5988
- Latitude
- 40.2759
- CBSA code
- 35420
- CBSA name
- NEW PHILADELPHIA-DOVER, OH MICROPOLITAN STATISTICAL AREA
