What is the typical cap rate for industrial in Cleveland?

About 10.5% as of Q1 2026, per multiple brokerages.

Is the Cleveland industrial market tightening or softening?

Vacancy is around 8.8% (Q1 2026).

Industrial

7501 Carnegie Avenue

7501 Carnegie Avenue United States Properties 7501 Carnegie A... Investment Property For Sale Industrial 7501 Carnegie Avenue 7501 Carnegie Avenue, Cleveland, OH 44103

Price

$920,000

Square Feet

138,046

Price/Sq Ft

$6.66

Description

The subject property consists of a multi-tenant structure totaling approximately 138,046 SF inclusive of approximately 5,048 SF of Office, 8,630 SF of Retail, and the balance of production, cooler, freezer, storage, and traditional warehouse. Our research confirms the original construction commenced in 1925 with multiple, various additions. The property began major renovations in 2012 and are still ongoing. Renovations include test kitchens, upgraded tenancy, significant roof and dock work, storefronts, freezer / cooler upgrades and expansions., etc. The property has been refurbished and is approximately 100% (there is a historic 11,278 SF roundabout that is currently used for parking and storage) leased. The property also contains two (2) drive-in doors and seven (7) dock doors with a ceiling heights up to 26’9”. Other property amenities include: heavy power, sprinkler system through the whole building; shop restrooms; floor drains, food grade ready racking, freezer, cooler, food prep areas, retail, etc.

Property description as provided by the listing source. PropZone adds independent market context, valuation estimates, and comparable listings.

Location

7501 Carnegie Avenue United States Properties 7501 Carnegie A... Investment Property For Sale Industrial 7501 Carnegie Avenue 7501 Carnegie Avenue, Cleveland, OH 44103

Leaflet © OpenStreetMap contributors

Property Details

Building Size138,046 SF

Market Context

This industrial in Cleveland, OH is listed for sale at $920,000 across 138,046 SF ($7/SF). It has been on the market for 142 days.

As of Q1 2026, the Cleveland industrial market showed a 8.8% vacancy rate, and cap rates around 10.5%. Source: multiple brokerages Q1 2026 market report.

Projected current pricing

indicative confidence

Projected asking rent

$5.49–$5.50/SF/yr

Estimated sale value

$50–$81/SF

Modeled estimate (income approach) shown as a range — not an appraisal. No market-specific cap rate is published for Cleveland industrial yet, so this applies the typical cap rate across comparable industrial markets — treat it as a rough, indicative range that sharpens as sourced cap rates arrive. Projected asking rent × occupancy × net-operating-income margin band ÷ a benchmark cap rate, from Q1 2026 asking-rent data (benchmark cap rate 5.5%–7.3%, asking rent trend-adjusted to today).

View the full Cleveland Industrial market report →

Compare it against other industrial listings for sale in Cleveland, OH to benchmark pricing and space — view the full market.

Industrial market FAQ

What is the typical cap rate for industrial in Cleveland?: About 10.5% as of Q1 2026, per multiple brokerages.
Is the Cleveland industrial market tightening or softening?: Vacancy is around 8.8% (Q1 2026).

Unified Estimate

Medium Confidence

$63.75/SF-$80.34/SF

Mid: $75.00/SF

Total estimate for 138,046 SF

$10,353,450

Rate-first confidence-weighted blend with cost-of-business adjustment.

Sale Price History

Market report quarterly trend fallback

Low Confidence

Avg Rent ($/SF/yr) (market data)
Vacancy %

Market asking rent (quarterly avg)Vacancy rate (right axis)

Investment Analysis

Beta Feature: Investment Analysis is currently in beta testing. Metrics are calculated based on available financial data and market comparables. Results are for informational purposes and should not be considered financial advice. Verify all assumptions and consult with a financial advisor before making investment decisions.