Kent Landmark Mixed-Use
103 Lake St Kent, OH 44240
103 Lake St, Kent, OH, 44240
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For Sale
Contact for pricing
Mixed-use property with retail, apartments, and redevelopment potential.
Property Size3,992 SF
Lot Size0.21 Acres
Price / SF$204.16
Days on Market1298
Property Features for 103 Lake St
General Information
- Standard status
- Active
- Size
- 3,992 SF
- Lot size
- 0.21 Acres
- Property subtype
- Mixed Use, Multifamily, Retail
Building Details
- Year Built
- 1900
Listing Agency
Jack Kohl Realty
(330) 296-9997
Listed by
Ryan Poland · License #OH 2013004630
Source
Crexi
Added: Dec 26, 2022 Checked: Jul 16 at 7:41 am
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Jack Kohl Realty
Investment Insights
Based on property information with market context.
This landmark property, formerly known as Hutch Pet Shop, is available for sale for the first time in over 50 years. Located on the corner of Crain Avenue, Lake Street, and N. Water Street in Kent, Ohio, the property includes three buildings. The first building at 103 Lake Street features a retail store with an apartment above. The second building at 115 Crain Avenue is a licensed rental house with potentially two or three units. The third building at 118 Lake Street is a licensed two-unit apartment building. The buildings are situated on a total of 0.21 acres and have public utilities. The location offers high visibility and good access, with traffic counts of approximately 10,000 cars per day. The property is near the Hike and Bike Trail, downtown Kent, and Kent State University (KSU). The total property size is 3992 square feet. This corner location presents a redevelopment opportunity.
Key Highlights
- High‑visibility corner location on Crain Ave., Lake St., and N. Water St. with approx. 10K cars per day.
- Package deal includes 3 buildings: retail store with apartment, 2‑3 unit rental house, and 2‑unit apartment building.
- Located near Hike and Bike Trail, downtown Kent, and KSU.
Local Financial Insights For Mixed Use
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $71.9k | $18.00 |
| − Vacancy | −$7.2k | −$1.80 |
| EGI | $64.7k | $16.20 |
| − OpEx | −$24.3k | −$6.07 |
| NOI | $40.4k | $10.13 |
3,992 SF · lease $18.00/SF/yr · vacancy 10.00% · expense 37.50%
Alternative Uses
Best Use
Mixed Use
$577.4K
$505.2K – $673.7K
NOI $40,419 @ 7.0% cap · market cap 4.96%
Second Best
Apartment 5plus
$459.5K
$402.0K – $536.0K
NOI $32,162 @ 7.0% cap · market cap 3.95%
Theoretical Best
Office A
$804.1K
$703.6K – $938.1K
NOI $56,286 @ 7.0% cap · market cap 6.91%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Storefront properties
Similar For Sale Nearby
FAQs
What type of property is this?
Mixed-use property - Mixed-use property with retail, apartments, and redevelopment potential.
Where is this mixed-use property located?
The property is located at 103 Lake St Kent, OH.
What is the asking price?
The asking price for this property is $815,000.
What are key features of this property?
This property features: High‑visibility corner location on Crain Ave., Lake St., and N. Water St. with approx. 10K cars per day.; Package deal includes **3 buildings**: retail store with apartment, 2‑3 unit rental house, and 2‑unit apartment building.; Located near Hike and Bike Trail, downtown Kent, and KSU.
