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    33800 Lear Industrial Pkwy Avon, OH 44011-1373

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    33800 Lear Industrial Pkwy Avon, OH 44011-1373

    View on Map
    • Warehouses
    • 11,100 SF
    • 1.02 lot acres
    Off-Market
    Last Sale Nov 12, 2024
    $1,500,000
    Property ID
    US66-6077194
    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
    $1,515,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • SunWalk® Superior Surfaces by GRDM CO INC. / Industrial Manufacturer / Production Facility
    • Main Access / (Bike/Boat/Book/etc) Store / Hardware & Home Improvement
    • Power Ionizer / General Contractor

    Property Details for 33800 Lear Industrial Pkwy

    Year built
    2001
    Lot size
    1.02 lot acres
    Property size
    11,100 SF
    Property type
    Warehouses
    Property subtype
    Self storage facilities
    APN
    04-00-021-000-183
    APU
    400021000183

    Description

    This ±16,600 square foot warehouse/office facility is situated on 1.1 acres in Avon, Ohio, at 33800 Lear Industrial Parkway. The property features a ±13,000 square foot clear-span warehouse with 18-20 foot ceiling heights, perfect for various industrial uses. A ±3,600 square foot office space complements the warehouse area. The building, constructed in 2001 with masonry and metal construction, received a 5,000 square foot addition in 2006. Loading and unloading is facilitated by one loading dock and one drive-in door. This single-tenant property benefits from its strategic location off Chester Road and Nagel Road, providing easy access to I-90 via the Nagel Road exit/entrance. The area boasts a strong industrial presence, with neighbors including Rolleri USA, RichTech Industries, Zephyr Solutions, Ecoverse, Duraclean Restoration & Cleaning Services, and Sherwin-Williams Commercial Paint. Beyond industrial neighbors, the property enjoys proximity to a variety of retail and service businesses, including Cleveland Clinic, Residence Inn, GetGo, Petitti Garden Centers, Menards, Duluth Trading Co, Cabela's, Target, The Home Depot, and Costco. This prime location offers excellent visibility and accessibility, making it an attractive opportunity for businesses seeking a well-maintained, functional warehouse space in a thriving commercial area. The property's zip code is 44011.

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,760,000
      6.5%
      $1,625,000
      7%
      $1,510,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $918,000
      Market price range: $464k - $1.46M
      AI Estimate
      $1,427,000
      Market price range: $377k - $2.85M

    • Alternative Use

      Use
      Estimation
      RESTAURANT
      $1,745,000
      APARTMENT HOUSE (5+ UNITS)
      $1,550,000
      OFFICE BUILDING
      $1,075,000
      MEDICAL BUILDING
      $1,035,000
      AUTO REPAIR, GARAGE
      $915,000
      COMMERCIAL (GENERAL)
      $910,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Avon
    County
    Lorain
    State
    Ohio
    Longitude
    -81.9907
    Latitude
    41.4742
    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
    $18,607
    $30,345
    $259,476
    $289,821
    -
    $86,700
    $741,360
    $828,060

    Comparable in this City

    • Value Estimation by Request
      1,125 SF

      1049 Ctr Rd, Unit 12

      MINI-WAREHOUSE, STORAGE • 1,125 SF
      1049 Ctr Rd, Avon, OH 44011-1219
      View Details
    • Value Estimation by Request
      990 SF

      1049 Ctr Rd, Unit 50

      MINI-WAREHOUSE, STORAGE • 990 SF
      1049 Ctr Rd, Avon, OH 44011-1219
      View Details
    • Value Estimation
      $1,440,000
      9,900 SF

      38390 Chester Rd

      MINI-WAREHOUSE, STORAGE • 9,900 SF
      38390 Chester Rd, Avon, OH 44011-1000
      View Details
    • Value Estimation
      $1,550,000
      10,800 SF

      998 Ctr Rd

      MINI-WAREHOUSE, STORAGE • 10,800 SF
      998 Ctr Rd, Avon, OH 44011-1204
      View Details
    • Value Estimation by Request
      990 SF

      1049 Ctr Rd, Unit 16

      MINI-WAREHOUSE, STORAGE • 990 SF
      1049 Ctr Rd, Avon, OH 44011-1219
      View Details
    • Value Estimation by Request
      990 SF

      1049 Ctr Rd, Unit 23

      MINI-WAREHOUSE, STORAGE • 990 SF
      1049 Ctr Rd, Avon, OH 44011-1219
      View Details

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    Similar Nearby for Lease

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      70,000 SF

      Avon Manufacturing/Office Space Available

      70,000 SF manufacturing/office space for lease in Avon, OH.
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      View Details
    • Contact for pricing

      Industrial Building on 5 Acres

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      View Details
    • $9 SF/Yr
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    • $2,900 /Mo
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      Avon Warehouse and Office Space

      Well-maintained warehouse and office building near I-90 in Avon, OH.
      1224 Lear Industrial Pkwy, Avon, OH 44011
      View Details
    • Contact for pricing
      120,000 SF

      Avon Commerce Park: Prime Industrial Space

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      Retail space available in high-traffic Avon location.
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      View Details
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    Avon, OH 44011-1373
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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.

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    33800 Lear Industrial Pkwy, Avon, OH, 44011

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