1840 Baney RdAshland, OH 44805

Property Details for 1840 Baney Rd

Year built

1973

Lot size

21.79 AC

Property size (Sq ft)

28,244 SF

Property type

Office properties

Property subtype

Office buildings

APN

P44-082-0-0008-00

APU

P440820000800

Description

This fully occupied, multi-tenant industrial complex in Ashland, Ohio, offers a compelling investment opportunity. The 251,466 square foot property sits on 21.79 acres and boasts a 7.75% cap rate with a net operating income of $968,881. The complex comprises four units within a single, one-story building constructed in 1973 and renovated in 2017. It features 104 parking spaces and is zoned M-1. The property benefits from a strong tenant mix, including long-standing occupants with recently renewed long-term leases. The largest tenant, Hedstrom Plastics, occupies over 157,000 square feet for its plastic injection operation. Another key tenant, Bendon Publishing, occupies significant space as its headquarters. The strategic location in Ashland, Ohio, provides easy access to major highways (I-71, US-250, and SR-42), placing it within convenient driving distance of Cleveland, Columbus, and Akron. This prime location, combined with the strong tenant base and below-market rents, presents a stable and attractive investment prospect. The asking price is $12,500,000, with a price per square foot of $49.71. The property's features include office space, expansive warehousing and distribution space, manufacturing space, production areas, and enclosed outdoor storage. This well-maintained complex offers a solid investment with significant potential for long-term growth and returns.

• CAP approach

  CAP return

  Valuation

  6%

  $5,354,266

  6.5%

  $4,942,400

  7%

  $4,589,371

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,641,944

  Geo Method

  $2,641,944

• Alternative Use

  Use

  Valuation

  Residential

  $6,128,576

  Hospitality

  $5,613,742

  Educational

  $4,670,568

  Medical

  $4,831,196

  Retail

  $7,265,328

Location Insight

City

Ashland

County

Ashland

State

Ohio

Latitude

40.8478

Longitude

-82.3517

CBSA code

11740

CBSA name

ASHLAND, OH MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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