50 Newton St
Norwalk, OH 44857
Industrial Property For Sale
Investment Highlights
- Fantastic cap rate with an affordable building
- Brick building with many opportunities to increase rental income and lots of space still available to rent
- Long term tenants
Property Facts
| Property Type | Industrial | Year Built | 1980 |
| Property Subtype | Warehouse | Parking Ratio | 0.3/1,000 SF |
| Building Class | C | Clear Ceiling Height | 13’ |
| Lot Size | 3.17 AC | No. Dock-High Doors/Loading | 4 |
| Rentable Building Area | 172,000 SF | No. Drive In / Grade-Level Doors | 9 |
| No. Stories | 3 | ||
| Zoning | MB - Manufacturing Business | ||
| Property Type | Industrial |
| Property Subtype | Warehouse |
| Building Class | C |
| Lot Size | 3.17 AC |
| Rentable Building Area | 172,000 SF |
| No. Stories | 3 |
| Year Built | 1980 |
| Parking Ratio | 0.3/1,000 SF |
| Clear Ceiling Height | 13’ |
| No. Dock-High Doors/Loading | 4 |
| No. Drive In / Grade-Level Doors | 9 |
| Zoning | MB - Manufacturing Business |
Amenities
- Property Manager on Site
Utilities
- Lighting
- Gas - Natural
- Water - City
- Sewer - City
- Heating - Gas
About 50 NEWTON ST , NORWALK, OH 44857
This is a fantastic older building with lots of opportunity. The current rents are $7233/month and there are still a few spaces that are rent ready. There is also an opportunity to improve more of the 2nd floor and all of the 3rd floor to obtain more rents. We just replaced and improved most of the fire sprinkler system which was the largest issue when we obtained the building nearly 2 years ago. We also did the roof with an aluminum coating on the 2nd floor where the baseball school is the tenant and that was another major improvement. We are expecting a major decrease in our insurance rates this year due to all of the improvements we have made to the building over the last 22 months. The actual financials are estimates and not final audited financials and insurance was higher in 2018 than we are expecting in 2020. Rents on the building are currently $7233/month and all tenants are either in leases or longer term tenants.
Property Taxes
| Parcel Number | 33-0200-08-001-0000 | Improvements Assessment | $112,980 |
| Land Assessment | $38,410 | Total Assessment | $151,390 |
Property Taxes
