621 Dana St Warren, OH 44483

This fee-simple, multi-tenant industrial property in Warren, Ohio offers a compelling value-add opportunity. The 254,000-square-foot building, situated on 12 acres of land zoned for manufacturing, boasts a 10% cap rate and a pro-forma cap rate of 11.9%. Currently 81% occupied by six tenants under modified gross leases, the property presents significant upside potential. Built in 1940 and renovated in 2019, the two-story Class C building features 243,000 square feet of net rentable space, 150 parking spaces, six loading docks, and two dock-high doors. Ceiling heights range from 25 to 40 feet, accommodating diverse warehousing and manufacturing needs. The property includes 11,000 square feet of office space on a mezzanine level, bridge cranes, a dry sprinkler system, and an inactive inside rail spot. The roof was replaced in 2019 with an 18-year warranty. The asking price is $5,250,000, translating to $20.67 per square foot. The current NOI is $525,748, with a pro-forma NOI of $622,198. Utilities are sub-metered and billed to tenants. This property is an ideal investment for an experienced operator seeking to capitalize on below-market rents and strong market demand in the Warren industrial submarket. The APN is 38-832700.