240 Industrial Pkwy, Fayette, OH 43521
215,872 SF | 95% Leased | Industrial Building | Online Auction Sale | Fayette, OH 43521
For Sale
Active
- Property Type
-
Industrial
Listing Contacts
Kaleb Rupp
Hunter Rupp
Deno Bistolarides
Derek Rudd
Property Overview
Situated less than 10 minutes off the Interstate 90 corridor, the country’s longest Interstate Highway, 240 E Industrial Parkway, presents a rare opportunity to invest in a prime industrial location.
This expansive facility spans 215,872 square feet of highly adaptive industrial space on 12 acres in Fayette, Ohio. Equipped with 13- to 32-foot ceiling heights, heavy power, 10 loading docks with levelers, five drive-in bays, and six storage silos, this property is suitable for a variety of industries. The 6-inch insulated steel, vinyl-faced, fiberglass roof has been meticulously maintained and re-coated in the last few years. All tenant spaces are separately metered and heated by hanging gas units. An on-site manager provides maintenance, lawn care, and landscaping, a true value-add for tenants occupying space in the building.
With the potential to acquire below replacement cost, 240 E Industrial Parkway offers an incoming investor the opportunity to benefit from a quality industrial facility with strong, long-term tenancy and significant upside through leasing the two small vacancies and bringing existing rents to market rates.
Fayette is a small city in the heart of Northwest Ohio, approximately 45 minutes from Toledo. The suburban locale is ideal for industrial users, providing unmatched access throughout the country via nearby Interstate 90. Situated in the Fulton County Industrial Submarket, the property is perfectly positioned to benefit from strong market trends. The submarket is nearly at capacity, with a 0.4% vacancy rate. Rents are up around $4.80 per square foot, which is a 2.9% increase over the last year. In the past three years, rents have increased by a cumulative 15.3%. Investor interest in the area is rising as tenant demand in centrally located suburbs continues to grow. With virtually no comparable assets available on the market, 240 E Industrial Parkway poses a rare acquisition opportunity for a new owner.
Property tours are available by appointment only. Please contact the listing broker to schedule.
This expansive facility spans 215,872 square feet of highly adaptive industrial space on 12 acres in Fayette, Ohio. Equipped with 13- to 32-foot ceiling heights, heavy power, 10 loading docks with levelers, five drive-in bays, and six storage silos, this property is suitable for a variety of industries. The 6-inch insulated steel, vinyl-faced, fiberglass roof has been meticulously maintained and re-coated in the last few years. All tenant spaces are separately metered and heated by hanging gas units. An on-site manager provides maintenance, lawn care, and landscaping, a true value-add for tenants occupying space in the building.
With the potential to acquire below replacement cost, 240 E Industrial Parkway offers an incoming investor the opportunity to benefit from a quality industrial facility with strong, long-term tenancy and significant upside through leasing the two small vacancies and bringing existing rents to market rates.
Fayette is a small city in the heart of Northwest Ohio, approximately 45 minutes from Toledo. The suburban locale is ideal for industrial users, providing unmatched access throughout the country via nearby Interstate 90. Situated in the Fulton County Industrial Submarket, the property is perfectly positioned to benefit from strong market trends. The submarket is nearly at capacity, with a 0.4% vacancy rate. Rents are up around $4.80 per square foot, which is a 2.9% increase over the last year. In the past three years, rents have increased by a cumulative 15.3%. Investor interest in the area is rising as tenant demand in centrally located suburbs continues to grow. With virtually no comparable assets available on the market, 240 E Industrial Parkway poses a rare acquisition opportunity for a new owner.
Property tours are available by appointment only. Please contact the listing broker to schedule.
Property Details
- Class
- B
- Year Built
- 2005
- Stories
- 1
- Property Subtype
- Manufacturing
- Lot Size (sq. ft)
- 522,720 SF
Highlights
- 240 E Industrial Parkway offers the exclusive opportunity to acquire a high-occupancy, multi-tenant industrial facility in Fayette, Ohio.
- With a central location near I-90, the property sits within a four-hour drive of major markets such as Columbus, Indianapolis, Chicago, and Cleveland.
- Take advantage of this lucrative investment providing a significant revenue stream and value-add potential with additional leasing.
- Currently, 79% of the property is occupied by one tenant on a long-term lease with more than six years remaining.
- 240 E Industrial Parkway sits in a strong industrial submarket which exhibits historically low vacancy rates and strong leasing activity.
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