Two-Unit Office
For Sale
$185,000
4222 State Route 43, Kent, OH 44240
CommercialSale, Kent, OH
Property Size1,176 SF
Lot Size0.24 Acres
Price / SF$157.31
Days on Market85
Property Features for 4222 State Route 43
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning description
Commercial
Subdivision
4222 St Route 43 Office Condos
Elementary school district
Field LSD - 6703
Middle school district
Field LSD - 6703
High school district
Field LSD - 6703
Directions
I-76 to south on Rt 43
Standard status
Active
APN
04-032-00-00-051-010
Lot size
0.24 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
4222 ST RT 43 CONDO OFF UNIT B 50% INT
Tax Annual Amount
2208
Legal Description
4222 ST RT 43 CONDO OFF UNIT B 50% INT
Utilities
Sewer type
Public Sewer
Heating system
Forced Air, Natural Gas
Cooling system
Central Air
Water source
Public
Building Details
Year built
1984
Listing Agency:
Cutler Real Estate
(330) 896-1680
Listed By:
Steve Burgess · License #2003001789
(330) 327-3393
Added: Jun 17
Changed: Aug 19
Last Checked: Sep 9 at 2:06PM
MLS# 5220086
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.
Unit B offers 1,176 square feet of office space within a two-unit commercial building. Constructed in 1984, the property is served by central air conditioning and forced-air heating powered by natural gas. Public water and public sewer are in place.
The building occupies a 0.24-acre parcel at 4222 State Route 43 in Kent, Ohio. The available unit provides a defined office configuration within a compact commercial property.
The building occupies a 0.24-acre parcel at 4222 State Route 43 in Kent, Ohio. The available unit provides a defined office configuration within a compact commercial property.
Key Highlights
- 1,176 SF office unit identified as Unit B
- Two‑unit commercial building
- 0.24‑acre parcel at 4222 State Route 43, Kent, OH 44240
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
$14,417
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
7.79%
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%
$288,340
$288.3K
Cap Rate 7%
$205,957
$206.0K
Cap Rate 9%
$160,189
$160.2K
Market Conditions
NOI Build-Up for 1,176 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
$25.3K $21.48/SF
− Vacancy
−$6.0K −$5.13/SF
EGI
$19.2K $16.35/SF
− OpEx
−$4.8K −$4.09/SF
NOI
$14.4K $12.26/SF
Area
Portage County, OH
Vacancy
23.90%
Lease Rate
$21.48 /SF/Yr
Expense Ratio
25.00%
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%
$288,340
Cap Rate 7%
$205,957
Cap Rate 9%
$160,189
Alternative Uses
Best Use
Office B
$206.0K
$180.2K – $240.3K
NOI $14,417 @ 7.0% cap · market cap 7.79%
Second Best
Healthcare Medical
$175.5K
$153.5K – $204.7K
NOI $12,282 @ 7.0% cap · market cap 6.64%
Theoretical Best
Office A
$236.9K
$207.3K – $276.4K
NOI $16,581 @ 7.0% cap · market cap 8.96%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
1
Office units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
222
Businesses Nearby
Explore this area
Business Placement
Demographics for 44240, OH
38,354
Population
20,228
Households
1.9
Avg Household Size
32
Median Age
44%
College-Educated
96%
High-School Grad
39.7 sq mi
ZIP Area
966
Density / Sq Mi
$57,415
Median Household Income
$31,613
Median Earnings
$989
Median Rent
$216,000
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Unit B provides office space with central air, forced-air heating, and public water and sewer service.
Where is this office units located?
The property is located at 4222 State Route 43 Kent, OH.
What is the asking price?
The asking price for this property is $185,000.
What are key features of this property?
This property features: 1,176 SF office unit identified as Unit B; Two‑unit commercial building; 0.24‑acre parcel at 4222 State Route 43, Kent, OH 44240
