Listed by Cushman & Wakefield CRESCO Real Estate
$4,556,800
Multi-Tenant Industrial Owner-User Investment Opportunity
Details
APN 23-223200, 23-385291, 23-123211, 23-123210, 23-123300, 23-123200
Property Type Industrial
Sub Type Distribution, Manufacturing
Square Footage 113,900
Cap Rate 8.04%
NOI $366,290
Occupancy 95%
Tenancy Multi
Lease Type NNN
Pro-Forma Cap Rate 8.04%
Pro-Forma NOI $366,290
Price per SqFt $40
Year Built 1978
Year Renovated 2024
Buildings 1
Acreage 10.830
Zoning M1/B1
Investment Type Owner/User
Ceiling Height 12'-24'
Loading Docks 8
Sale Condition For sale by owner
Prime Warehousing or Manufacturing Owner-User Investment in Novelty, Ohio
Marketing description
• Rare opportunity for a local warehousing or
manufacturing owner-user to secure their own facility
and generate a built-in income stream
• Current ownership has invested in numerous upgrades,
including new roof sections, sprinkler system
enhancements, and a revitalized building facade
• Value add investment opportunity with the ability to
fill vacancies, raise rental rates, and decrease some
of the current operating expenses
• Positioned in the desirable Geauga County community
of Novelty, this property offers exceptional connectivity.
It’s located just minutes from I-271 and provides easy
access to major towns and suburbs including Chagrin
Falls, Chesterland, and Solon, providing access to a
skilled labor pool and established business districts.
Listing Contacts
Listed by Cushman & Wakefield CRESCO Real Estate
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$366,290.00
$30,524.17/mo
Valuation Metrics
0
DSCR
8.04%
Cap Rate
8.04%
ROI
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