1015 New York Ave 60,804 SF Industrial Building Toledo, OH 43611 $7,200,000 ($118.41/SF)

PROPERTY OVERVIEW
1015 New York Avenue is a rare opportunity to acquire a 60,804 SF rail-served distribution hub on roughly 6 acres in Toledo, Ohio, with approximately 10 acres of contiguous expansion land available. Originally a food production facility and comprehensively renovated in 2023 (roof, refrigeration system, electrical, and dock doors), the building offers a level of infrastructure that is very difficult to replicate in this size class, particularly the active rail service and dock count. With 27 total dock doors, 26' clear height, 3,000A 3-phase power, and four working rail-served positions, the building is purpose-built for high-volume distribution, third-party logistics, food processing, and rail-served manufacturing users.
The property is positioned for a wide buyer audience. Dry distribution and 3PL users will find the dock-to-square-foot ratio, clear height, and rail access very attractive in a market where rail-served buildings under 100,000 SF are increasingly rare. Food and beverage processors will find a fully operational, food-grade pedigree with in-place refrigeration and freezer infrastructure ready to support cold and ambient operations from day one. Owner-occupants will appreciate the rail spur, the expansion land, and a renovated building footprint that supports near-term growth without a major capital event.
KEY HIGHLIGHTS
- 60,804 SF rail-served distribution hub, food-grade pedigree
- 6 acres + ~10 acres of contiguous expansion land
- 4 rail-served dock positions (Watco-served spur)
- 27 total dock doors, including 9 refrigerated
- 26' clear height
- 3,000A, 3-phase heavy power
- ~12,500 SF of in-place refrigerated and freezer space (R-507A)
- 3,600 SF insulated cooler envelope (ready for refrigeration build-out)
- Two 50-60 ton flour silos
- 60 HP boiler, two 200 HP compressors, glycol chiller
- Wet and dry sprinkler systems
- Masonry construction
- Comprehensive 2023 renovation
LOCATION AND LOGISTICS
Lucas County, Toledo, Ohio. Immediate access to I-280 and direct connectivity to I-75, I-90 (Ohio Turnpike), and I-80. Toledo sits at one of the most strategic logistics crossroads in the Great Lakes region, with a one-day truck reach to roughly 50% of the U.S. and Canadian population. The Port of Toledo is one of the largest ports on the Great Lakes and is minutes from the property, adding a maritime option to the building's existing rail and highway connectivity. Detroit is approximately 60 miles north, Cleveland approximately 115 miles east, and Indianapolis, Columbus, and Pittsburgh are all within a half-day truck radius.
RAIL ADVANTAGE
The four rail-served dock positions on the in-place spur are the single most differentiating feature of this asset. Watco operates the rail service and has been a responsive partner on transload and switching questions for prospective users. New industrial rail spur construction commonly runs well into seven figures before factoring in interchange agreements and yard build-out, making this kind of working rail access functionally irreplaceable at today's construction costs. For 3PL operators, food and beverage manufacturers, building products distributors, plastics resin handlers, and bulk commodity users, rail access of this kind translates directly into freight cost savings, supply chain resiliency, and a competitive moat against non-rail-served competitors in the region.
IDEAL USER PROFILES
- Third-party logistics operators (3PL) looking to control real estate and add rail-served customers
- Food and beverage manufacturers needing a Midwest production or distribution node
- Bakery, snack, and grain-based processors (flour silos in place)
- Frozen and refrigerated food distributors
- Building products, plastics, and bulk commodity distributors that benefit from rail
- Owner-occupants seeking expandable acreage with infrastructure already in place
VALUE STORY
Replacement cost for a comparable building today, blending current construction costs across dry warehouse, office, refrigerated, and insulated cooler space, is estimated at $11M to $13M before land. That estimate does not include the cost of installing new industrial rail, the in-place R-507A refrigeration plant, the flour silos, or the boiler and compressor package, all of which would add meaningful cost to a new build. The current sale opportunity therefore offers a significant discount to functional replacement cost on a building that is fully operational today.