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

Park 536 at Independence

Park 536 at Independence, Independence, KY 41015

Price

Price on request

Market rate estimate — not broker-provided

Cost-of-Business Details

Very Low Confidence

Low

$6.80/SF

Mid

$8.00/SF

High

$9.20/SF

Tier Used

peer_city_transfer

Transferred from peer market minneapolis (similarity: 99%) with 4 comparable listings.

Peer market: minneapolis (99% similarity)

Tier Resolution Trace

Tier 1insufficient_data

Tier 2insufficient_data

Tier 3insufficient_data

Tier 4successselected

Cost Breakdown

Component	Value	Detail	Source
Base Rent	$8.00/SF	—	peer_city_transfer
Utilities	—	3.3¢/kWh	OpenEI URDB
Property Tax	—	0.0% eff. rate	API Ninjas
Labor Index	—	$1436/wk	BLS QCEW

Source Provenance (1)

Source	Type	Count	Year	Freshness	Peer
Peer City Transfer	economic_similarity	4	—	real-time	minneapolis (99%)

Data sources used

peer_city_transfer

Description

New Bulk Warehouse Speculative [306,560] SF [32’] clear height [300’] deep [277] car parking (expandable up to 464) [20] trailer parking (expandable up to 74) [2] drive-in doors [30] docks doors

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

Location

Park 536 at Independence, Independence, KY 41015

Leaflet © OpenStreetMap contributors

Market Context

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 Independence, KY 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

Very Low Confidence

$6.80/SF-$9.20/SF

Mid: $8.00/SF

Cost-of-business estimate only; rate estimator unavailable.

No local comparable sales were available, so this estimate is transferred from a comparable peer market — treat it as a rough indication only. Transferred from peer market minneapolis (similarity: 99%) with 4 comparable listings.