Flex Space with Shop and
For Sale
$399,000
1107 Melchoir Place SW, Canton, OH 44707
CommercialSale, Canton, OH
Property Size9,100 SF
Lot Size0.36 Acres
Price / SF$43.85
Days on Market1071
Property Features for 1107 Melchoir Place SW
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
Industrial - Light
Subdivision
Canton City
Elementary school district
Canton CSD - 7602
Middle school district
Canton CSD - 7602
High school district
Canton CSD - 7602
Directions
Tuscarawas to south on Schroyer Ave. SW to east on Melchoir Pl SW. Property is on the corner of Melchoir Place SW and Cook Ave. SW.
Standard status
Active
APN
00245906
Size
9,100 SF
Lot size
0.36 Acres
Taxes and HOA fees
Tax Description
5273,5274,5275 WH EA
Tax Annual Amount
5953
Legal Description
5273,5274,5275 WH EA
Building Details
Year built
1994
Floors in Building
2
Number of units
2
Listing Agency:
Cutler Real Estate
(330) 492-7230
Listed By:
Michael C Boylan · License #443636
(330) 704-5945
Added: Oct 9, 2023
Changed: Aug 19
Last Checked: Sep 13 at 1:06AM
MLS# 4495865
Copyright © 2026 MLS Now. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This flex property comprises two adjacent buildings totaling 9,100 square feet. The 6,300-square-foot building at 1107 Melchoir Place SW combines 3,912 square feet of shop area with 2,388 square feet of office space. Shop improvements include six rooms, a half bath, slop sink area, fenced rear access, and varied ceiling heights. The office component includes a lobby, three offices, a kitchen area, storage, and a bathroom with shower. Electrical service was updated in 2020 and includes 600 amps.
The 2,800-square-foot building at 806 Cook Ave. SW is a heated and air-conditioned warehouse with an open layout, 12-foot ceiling, 10-inch concrete floors, floor drain, sink, restroom, two man doors, and a 10' x 16' overhead door. It also has 3-phase 240/480 electric service. Both buildings are zoned I-1, or light industrial. The Melchoir Place building is vacant, while the Cook Avenue warehouse is leased month-to-month.
The 2,800-square-foot building at 806 Cook Ave. SW is a heated and air-conditioned warehouse with an open layout, 12-foot ceiling, 10-inch concrete floors, floor drain, sink, restroom, two man doors, and a 10' x 16' overhead door. It also has 3-phase 240/480 electric service. Both buildings are zoned I-1, or light industrial. The Melchoir Place building is vacant, while the Cook Avenue warehouse is leased month-to-month.
Key Highlights
- Two adjacent buildings totaling 9,100 square feet
- 6,300‑square‑foot shop and office building with 3,912 SF of shop area and 2,388 SF of offices
- 2,800‑square‑foot heated and air‑conditioned warehouse
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$30,745
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.71%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$614,900
$614.9K
Cap Rate 7%
$439,214
$439.2K
Cap Rate 9%
$341,611
$341.6K
Market Conditions
NOI Build-Up for 9,100 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$44.7K $4.91/SF
− Vacancy
−$760 −$0.08/SF
EGI
$43.9K $4.83/SF
− OpEx
−$13.2K −$1.45/SF
NOI
$30.7K $3.38/SF
Area
Stark County, OH
Vacancy
1.70%
Lease Rate
$4.91 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$614,900
Cap Rate 7%
$439,214
Cap Rate 9%
$341,611
Alternative Uses
Best Use
Office B
$1.57M
$1.37M – $1.83M
NOI $109,951 @ 7.0% cap · market cap 27.56%
Second Best
Warehouse
$533.3K
$466.7K – $622.2K
NOI $37,333 @ 7.0% cap · market cap 9.36%
Theoretical Best
Retail
$2.38M
$2.08M – $2.77M
NOI $166,314 @ 7.0% cap · market cap 41.68%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,072
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 44707, OH
9,163
Population
4,209
Households
2.2
Avg Household Size
36
Median Age
7%
College-Educated
81%
High-School Grad
15.3 sq mi
ZIP Area
599
Density / Sq Mi
$38,983
Median Household Income
$31,111
Median Earnings
$704
Median Rent
$106,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Midwest region
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Frequently Asked Questions
What type of property is this?
Flex space - Two-building light industrial property combining shop, office, and conditioned warehouse areas.
Where is this flex space located?
The property is located at 1107 Melchoir Place SW Canton, OH.
What is the asking price?
The asking price for this property is $399,000.
What are key features of this property?
This property features: Two adjacent buildings totaling 9,100 square feet; 6,300‑square‑foot shop and office building with 3,912 SF of shop area and 2,388 SF of offices; 2,800‑square‑foot heated and air‑conditioned warehouse
