126 New Pace RdNewcomerstown, OH 43832

Property Details for 126 New Pace Rd

Year built

1971

Lot size

2.56 AC

Property size (Sq ft)

53,408 SF

Property type

Industrial properties

Property subtype

Other warehouses

APN

45-02442.000

APU

4502442000

Description

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.

Location Insight

City

Newcomerstown

County

Tuscarawas

State

Ohio

Latitude

40.2759

Longitude

-81.5988

CBSA code

35420

CBSA name

NEW PHILADELPHIA-DOVER, OH MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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