Listing Saved
Email Sent

4.35 AC with Industrial

446 West Lake Street : Ravenna, OH 44266

Portage County, Ohio

4.35 Acres
Land Auction
July 20, 2021 12:00 PM
Create a FREE Land Buyer Profile or sign in to save this auction. DISMISS

Land Description

Double Digit Cap Rate Industrial - $80,000 Noi

Investment Highlights

Fully Occupied Industrial Opportunity with Long-Term Tenancy: The property generates roughly $80,000 NOI through a single tenant lease with Kanga Manufacturing who has been at this location since 2007.

Excellent Location: Direct access to Interstate Highway 76, Akron-Canton Regional Airport, Williams Brother.

Docks and Drive-In Doors: The Property offers tenants the use of 2 loading docks, and 1 overhead door.

Office Space Built Out: The Property includes a ±2,000 SF office space and 20,000 SF of air-conditioned warehousing space.

Heavy Manufacturing Employment: Ravenna has one of the highest demand for manufacturing occupations with the labor force being 2.33X higher compared to other locations in Ohio.

Offering Details

RI Marketplace is pleased to present the Industrial Opportunity (the "Property") located at 446 West Lake Street, Ravenna, OH 44266. The Property is a 48,000 SF distribution facility that is occupied by Kanga Manufacturing since 2007, with over $80,000 NOI generated annually. The Property has a ±2,000 SF office built out, new 20,000 SF air-conditioned warehousing area with 2 loading docks, and 1 overhead door. The Property is conveniently located nearby Interstate Highway 76, Akron-Canton Regional Airport, and Williams Brother. Ravenna has one of the highest demands for manufacturing occupations with a labor force that is 2.33X higher compared to other locations in Ohio based on the American Community Survey (Acs) in 2018.

The most common jobs held by residents of Ravenna, OH, by number of employees, are Production Occupations (767 people), Office & Administrative Support Occupations (707 people), and Sales & Related Occupations (579 people). Compared to other places, Ravenna, OH has an unusually high number of residents working as Production Occupations (2.33 times higher than expected), Material Moving Occupations (1.59 times), and Building & Grounds Cleaning & Maintenance Occupations (1.4 times).

Auctioneer:

Thomas Seaman

Keller Williams Greater Cleveland

License: Broker :

Land Maps & Attachments

Commercial Details

Type : Industrial
100% Occupancy
1955 Built
2003 Renovated
48,000 Sq Ft

More Land Details

Has Commercial Building
Commercial Zoning
AUCTIONFLIP ID
282982
Posted on AUCTIONFLIP
38 Days Ago
Last Updated
36 Days Ago
Views
93
Saves
1
Land features, descriptions, details, directions, sales history, photos, maps, boundaries and files are deemed reliable and provided "as is" without guarantee, warranty, representation, expressed or implied by AUCTIONFLIP or its advertisers, and is subject to errors, omissions, sale or withdrawal. Contact the seller directly regarding this listing.