Warehouse
Multi-Tenant Industrial Warren OH
621 Dana St NE, Warren, OH 44483
Listing Price: $4,800,000
Investment Overview
Marcus & Millichap is pleased to present for sale the fee-simple interest of a 259,000 square foot multi-tenant industrial building, located at 621 Dana Street NE, Warren, Ohio 44483. The class C, one-story building with a partial mezzanine, was built in 1940 and renovated in 1970 and 2019, is 94.4% occupied by 7-tenants with modified gross leases. The building is situated in a Qualified Opportunity Zone on approximately 12 acres zoned manufacturing and is accessible by an inside rail spot, once reactivated. Tenants are billed for utilities by landlord through sub-meters. The building features approximately 16,000 square feet of offices on the mezzanine level, bridge cranes, external docks, dry sprinkler system, and drive-in doors. The roof was replaced in 2019 with an 18-year warranty. Additionally, there is a 40’ high-bay section which adds to the building’s high functionality for warehousing and manufacturing. The short-term leases are typical of the high demand for on-demand industrial and warehousing space and allow ownership the opportunity to maintain market rents. This is an ideal opportunity for an experienced value-add operator to acquire a high yield income producing asset below per square foot market rates.
RETURNS: Cap rate: 12.2%; Seller financing is available.
Warren is a submarket in Youngstown, OH, which saw industrial rent increase 5.4% on average over the past 5 years to around $5.00/SF. Vacancy in the Warren industrial submarket is 7.7%.
Investment Highlights
- Excellent Returns
- 94.4% occupied
- Below market rents
- Bridge Cranes
- Inside rail spot (inactive)
Exclusively Listed By
Broker of Record
-
Michael L. Glass
Senior Vice President / Division Manager
Financing By
Listing Price: $4,800,000
Investment Highlights
- Excellent Returns
- 94.4% occupied
- Below market rents
- Bridge Cranes
- Inside rail spot (inactive)
Investment Overview
Marcus & Millichap is pleased to present for sale the fee-simple interest of a 259,000 square foot multi-tenant industrial building, located at 621 Dana Street NE, Warren, Ohio 44483. The class C, one-story building with a partial mezzanine, was built in 1940 and renovated in 1970 and 2019, is 94.4% occupied by 7-tenants with modified gross leases. The building is situated in a Qualified Opportunity Zone on approximately 12 acres zoned manufacturing and is accessible by an inside rail spot, once reactivated. Tenants are billed for utilities by landlord through sub-meters. The building features approximately 16,000 square feet of offices on the mezzanine level, bridge cranes, external docks, dry sprinkler system, and drive-in doors. The roof was replaced in 2019 with an 18-year warranty. Additionally, there is a 40’ high-bay section which adds to the building’s high functionality for warehousing and manufacturing. The short-term leases are typical of the high demand for on-demand industrial and warehousing space and allow ownership the opportunity to maintain market rents. This is an ideal opportunity for an experienced value-add operator to acquire a high yield income producing asset below per square foot market rates. RETURNS: Cap rate: 12.2%; Seller financing is available. Warren is a submarket in Youngstown, OH, which saw industrial rent increase 5.4% on average over the past 5 years to around $5.00/SF. Vacancy in the Warren industrial submarket is 7.7%.
Exclusively Listed By
Broker of Record
-
Michael L. Glass
Senior Vice President / Division Manager
Financing By

