Office/Warehouse Building for Sale
2648 Medina Rd
Medina, OH 44256
Highlights
- Building Size: 19,890 SF
- Lot Size: 3.8 Acres
- Potential Gross Income: $164,513
- Projected 2022 Net Rent: $127,354
- 2020 Operating Expenses: $37,159
- 2021 Net Income: $102,612
- Cap Rate: 9%
- Tenants: 13
- Seller (Occupier) to offer 1-year lease back
- depending on acquisition terms
- Use: Owner Occupier/Investment
- Renovation: $425,000 invested in 2015
- Zoning: C-2
- Traffic Count: 34,300+
Description
A 19,890 SF building on 3.80 acres. The building consists of 8,280 SF of office space and 11,610 SF of warehouse. There is 6,480 SF of office space on the first floor (1,680 SF in front building + 4,800 SF built-out within the warehouse) and 1,800 SF office space on the second floor. The 4,800 SF of office space within warehouse could be demolished creating a total 16,410 SF of warehouse space. The property was completely updated in 2015 with approximately $425K of improvements, including new build of offices, roof (2015, 2019), 4 rooftop A/C units, furnaces, concrete entrances, siding, drive-in & dock doors. Wonderfully located and highly visible from Route 18. Potential for expansion of building and/or yard in the rear of the property.
Located in Sharon Township, Medina County, Northeast Ohio. This location is on the south side of Medina Road, approximately ¼ mile east of the I-71 at SR-18 interchange. It is seven miles west of the I-77 and SR-18 interchange. This location provides easy access to Cleveland, Columbus, Akron, Canton, the Ohio Turnpike, Cleveland Hopkins Airport, and Akron Canton Airport. The property has two drives for easy ingress and egress.
