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29001 Solon Rd 194,640 SF 95% Leased Industrial Building Solon, OH 44139 $16,544,400 ($85/SF) 6.40% Cap Rate
INVESTMENT HIGHLIGHTS
- Below market lease rates.
- 94.9% occupancy.
- Value-add investment opportunity.
EXECUTIVE SUMMARY
Value-add investment opportunity available for sale in Solon. The 194,640 square foot building sits on roughly 14 acres and offers 25 docks/levelers, 9 drive-in doors, and a clear height of 20 feet. The property is outfitted with heavy power. Columns on the building are at 32' W x 40' D and the building features a wet sprinkler system. Portions of the roof were replaced in 2019 and 2023, with a final section in need of replacement. The parking lot to the building was resurfaced in 2022.
PROPERTY FACTS
| Price | $16,544,400 | Rentable Building Area | 194,640 SF |
| Price Per SF | $85 | No. Stories | 1 |
| Sale Type | Investment | Year Built | 1972 |
| Cap Rate | 6.40% | Parking Ratio | 3.08/1,000 SF |
| Property Type | Industrial | Clear Ceiling Height | 20’ |
| Property Subtype | Warehouse | No. Dock-High Doors/Loading | 25 |
| Building Class | B | No. Drive In / Grade-Level Doors | 9 |
| Lot Size | 13.99 AC | ||
| Zoning | I-2 - INDUSTRIAL | ||
| Price | $16,544,400 |
| Price Per SF | $85 |
| Sale Type | Investment |
| Cap Rate | 6.40% |
| Property Type | Industrial |
| Property Subtype | Warehouse |
| Building Class | B |
| Lot Size | 13.99 AC |
| Rentable Building Area | 194,640 SF |
| No. Stories | 1 |
| Year Built | 1972 |
| Parking Ratio | 3.08/1,000 SF |
| Clear Ceiling Height | 20’ |
| No. Dock-High Doors/Loading | 25 |
| No. Drive In / Grade-Level Doors | 9 |
| Zoning | I-2 - INDUSTRIAL |
AMENITIES
- Security System
- Air Conditioning
UTILITIES
- Lighting - Halide
- Gas - Natural
- Water - City
- Sewer - City
- Heating - Gas
PROPERTY TAXES
| Parcel Number | 953-07-001 | Improvements Assessment | $1,597,015 |
| Land Assessment | $489,720 | Total Assessment | $2,086,735 |
PROPERTY TAXES
Parcel Number
953-07-001
Land Assessment
$489,720
Improvements Assessment
$1,597,015
Total Assessment
$2,086,735
MAP
ADDITIONAL PHOTOS
Building Photo
Building Photo
Building Photo