Double Digit Cap Rate Industrial - $120,000 Noi
Fully Occupied Industrial Opportunity With Long-Term Tenant: Leased to US Refractory who has been in the space since 2009. Current lease runs through February 2023.
In-Place NOI of $120,000: Single tenant multi building complex offers stable monthly income.
Excellent Location: Nearby access to Interstate Highway 80 (Ohio Turnpike), Cleveland Hopkins International Airport, Jonick and Company.
Bridge Cranes & Drive-In Doors: The offering is inclusive of 2 bridge cranes (1-10 ton & 1-20 ton) and 8 drive-in doors.
Favorable Economic Conditions: North Ridgeville has strong local economics with a median household income of $74,309 (8.16% higher than the US median household income).
RI Marketplace is pleased to present the Industrial Opportunity (the "Property") located at 7660 Race Road, North Ridgeville, OH 44039. The Property is a 27,892 SF three-building distribution facility occupied by US Refractory since 2009, generating approximately $120,000 NOI annually. The offering is inclusive of 2 bridge canes (1-10 ton & 1-20 ton) and 8 drive-in doors. The property is located in close proximity to Interstate Highway 80 (Ohio Turnpike), Cleveland Hopkins International Airport, and Jonick and Company. North Ridgeville offers a favorable economic environment with a median household income of $74,309, which is 8.16% higher compared to the US median household income, while maintaining a marginal poverty rate of 5.59% based on the American Community Survey (Acs) in 2018.
The economy of North Ridgeville, OH employs 16.5K people. The largest industries in North Ridgeville, OH are Health Care & Social Assistance (2,652 people), Manufacturing (2,221 people), and Retail Trade (1,823 people), and the highest paying industries are Utilities ($70,909), Management of Companies & Enterprises ($67,614), and Finance & Insurance ($62,938). Median household income in North Ridgeville, OH is $74,309. In 2018, the place with the highest Median Household Income in North Ridgeville, OH was Census Tract 805 with a value of $87,596, followed by Census Tract 807 and Census Tract 801.04, with respective values of $80,668 and $69,471.
Keller Williams Greater Cleveland
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