621 Dana NE St Warren, OH 44483-3976
- Warehouses
- 12.00 lot acres
Current Use by Public Records
- Vulkor Inc / Insurance
- Therm-O-Link Inc / Construction
- Litco Custom Crate / Manufacturer
Property Details for 621 Dana NE St
- Lot size
- 12.00 lot acres
- Property type
- Warehouses
- APN
- 38-832700
- APU
- 38832700
Description
This fee-simple, multi-tenant industrial property in Warren, Ohio offers a compelling value-add opportunity. The 254,000-square-foot building, situated on 12 acres of land zoned for manufacturing, boasts a 10% cap rate and a pro-forma cap rate of 11.9%. Currently 81% occupied by six tenants under modified gross leases, the property presents significant upside potential. Built in 1940 and renovated in 2019, the two-story Class C building features 243,000 square feet of net rentable space, 150 parking spaces, six loading docks, and two dock-high doors. Ceiling heights range from 25 to 40 feet, accommodating diverse warehousing and manufacturing needs. The property includes 11,000 square feet of office space on a mezzanine level, bridge cranes, a dry sprinkler system, and an inactive inside rail spot. The roof was replaced in 2019 with an 18-year warranty. The asking price is $5,250,000, translating to $20.67 per square foot. The current NOI is $525,748, with a pro-forma NOI of $622,198. Utilities are sub-metered and billed to tenants. This property is an ideal investment for an experienced operator seeking to capitalize on below-market rents and strong market demand in the Warren industrial submarket. The APN is 38-832700.
Value Estimations
-
AI approach
- Method
- Estimation
- ML approach
- $410,000
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Location Insight
- Map
- Local Demand
- City
- Warren
- County
- Trumbull
- State
- Ohio
- Longitude
- -80.8096
- Latitude
- 41.2495
- CBSA code
- 49660
- CBSA name
- YOUNGSTOWN-WARREN-BOARDMAN, OH-PA METROPOLITAN STATISTICAL AREA
