For Sale
$2,400,000

126 New Pace RdNewcomerstown, OH 43832

Multi-tenant industrial warehouse, high occupancy.

Overview

Added:
Dec 11, 2024
Days on market:
115
This multi-tenant industrial warehouse, located at 126 New Pace Rd, Newcomerstown, OH 43832, presents a compelling value-add investment opportunity. The 55,500 square foot facility sits on a 2.557-acre lot and boasts 100% occupancy with three tenants under a gross lease. The current lease term has approximately 1.1 years remaining. The property features six loading docks and four drive-in doors, catering to diverse operational needs. Ceiling heights vary from 14 to 21 feet, with Bay #4 offering clear span construction. Electrical capacity is substantial, with Bay #1 featuring a 1200 Amp, 240 Volt, 3-Phase system and Bay #3 equipped with a 600 Amp, 480/277 Volt, 3-Phase system. A sprinkler system is in place throughout the building. Built in 1972, this fee simple ownership (land and building) offers a strong NOI of $211,667, resulting in an 8.82% cap rate at an asking price of $2,400,000 ($43.24/sq ft). No ground lease or lease options are available. This property is ideal for investors seeking immediate cash flow and potential for future value appreciation. The property is currently fully leased, providing a stable income stream.

Highlights

  • $2,400,000 asking price for this value-add industrial property.
  • 55,500 square foot warehouse on a 2.557-acre lot in Newcomerstown, Ohio.
  • Multi-tenant property with three tenants, currently 100% occupied, generating a $211,667 NOI and an 8.82% cap rate.
  • Gross lease structure with 1.1 years remaining on the current leases.
  • Features include six dock-high doors, four drive-in doors, a sprinkler system, and ceiling heights ranging from 14' to 21', including clear span construction in one bay.
  • Ample electrical capacity with varying amperage and voltage in different bays.

Property Details for 126 New Pace Rd

Property type
Warehouses, Industrial properties
Square Feet
55,500 SF
Year Built
1972
Buildings
1
Lot Size (sq. ft)
111,383 SF

Location Insight

City
Newcomerstown
County
Tuscarawas
State
Ohio
Latitude
40.2758774
Longitude
-81.5985877
126 New Pace Rd, Newcomerstown, Ohio

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126 New Pace Rd
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