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Value-Add Investment Opportunity

5259 Devon Drive : Vermillion, OH 44089

Erie County, Ohio

6 Acres
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Value-Add Investment Opportunity : Vermillion : Erie County : Ohio

Land 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

License: Broker :

Land features, descriptions, details, directions, sales history, photos, maps, boundaries and files are deemed reliable and provided "as is" without guarantee, warranty, representation, expressed or implied by LANDFLIP or its advertisers, and is subject to errors, omissions, sale or withdrawal. Contact the seller directly regarding this listing.