Value-Add Investment Opportunity
5259 Devon Drive : Vermillion, OH 44089
Erie County, Ohio
Property Description
Rare Value-Add Industrial Opportunity
Investment Highlights
Recent 5-Year Lease Through 2026: Dewey Furniture recently signed a 5-year lease for their 30,000 SF space.
Value-Add Opportunity: New ownership has the opportunity increase NOI through to lease-up of the remaining vacancy.
Docks & Drive-In Doors: The building is in excellent condition and includes 9 loading docks and 3 drive-in doors.
Strategic Placement in Manufacturing City: Nearby access to downtown Vermilion, Lake Erie (indoor boat storage & warehousing), Cleveland Hopkins International Airport, Lorain Tubular Company.
Offering Details
RI Marketplace is pleased to present the Value-Add Industrial Opportunity (the "Property") located at 5259 Devon Drive, Vermilion, OH 44089. The Property is a 60,000 SF distribution facility that is partially occupied by Dewey Furniture on a recently signed 5-year lease through 2026. New ownership will have the opportunity to add value through lease-up of the remaining vacancy to increase the current NOI of The asset has 9 loading docks and 3 drive-in doors. The property is strategically located in close proximity to downtown Vermilion, Lake Erie (indoor boat storage & warehousing), Cleveland Hopkins International Airport, Lorain Tubular Company, and Port Milwaukee.
The economy of Vermilion, OH employs 4.41K people. The largest industries in Vermilion, OH are Health Care & Social Assistance (833 people), Manufacturing (723 people), and Retail Trade (396 people), and the highest paying industries are Transportation & Warehousing, & Utilities Transportation & Warehousing and Public Administration Median household income in Vermilion, OH is In 2018, the place with the highest Median Household Income in Vermilion, OH was Census Tract 401 with a value of followed by Census Tract 301 with a value of Seaman
Keller Williams Greater Cleveland
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