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Property profile & analytics
OFF-MARKET Estimated value $1,315,000
Industrial properties

1920 Fairport Nursery Rd Fairport Harbor, OH 44077-4482

48,010 SF 5 ac lot Built 1946
Entity Owned 15-yr Hold Free & Clear
Property ID
US66-1903753
Property summary
AI-generated overview

This exceptional 44,980-square-foot industrial property, situated on 5.01 acres in Painesville Twp, OH (44077), presents a unique investment opportunity. Built in 1946, this single-story building boasts a versatile layout ideal for distribution, warehousing, or manufacturing. The property features 2 loading docks and 3 dock-high doors, ensuring efficient material handling. Ceiling heights range from 17 to 28 feet, accommodating various operational needs. The space includes approximately 41,380 square feet of industrial/manufacturing space, plus a partially built-out 3,600-square-foot office area and a 1,440-square-foot outbuilding. The property benefits from three 75kVa overhead transformers providing 240-volt, 3-phase power, along with multiple cranes (two 1/2-ton and three 2-ton). Zoned I-2 (Heavy Industrial), it offers convenient access to SR 2 and the Norfolk Southern rail line. Recent upgrades include new LED lighting (2023). An EPA Phase I environmental assessment is available. This former Tartan Boat manufacturing facility is ideally suited for various uses, including boat, car, motorhome, and semi-truck storage. The property's location offers close proximity to Lake Erie. The asking price is $1,950,000, with a price per square foot of $43.35. The APN is 12A0590000260.

Property profile
Verified
Property type Industrial properties
Use group INDUSTRIAL (GENERAL)
Year built 1946
Construction WOOD
Total area 48,010 SF
Lot 5 ac (217,800 SF)
APN 12-A-059-0-00-026-0
UPID US66-1903753
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
by Request
Comparable Approach Comparable
$1.34M
Blend (final) Blend
$1.32M
Owner & transaction history
Fairport Harbor Holdings Ltd · 15 yrs held
Fairport Harbor Holdings Ltd
since 2010
1 recorded transaction
2010
$50,000
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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