Freestanding Flex
For Sale
Contact for pricing
1036 E State St, Alliance, OH 44601
Commercial building with a heated multi-bay outbuilding, food-service infrastructure, and separate office and showroom capability.
Property Size7,052 SF
Price / SF$98.55
Days on Market264
Property Features for 1036 E State St
General Information
Standard status
Active
Size
7,052 SF
Property subtype
OFFICE
Listing Agency:
Platz Realty Group
(330) 565-5701
Listed By:
Bill Kutlick · License #SAL.2022004714
(330) 565-5701
Source:
Moodyscre
Added: Dec 9, 2025
Changed: Aug 29
Last Checked: Aug 29 at 3:38PM
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 Platz Realty Group
Investment Insights
Based on property information with market context.
This freestanding flex property combines commercial building space with a heated accessory structure designed for varied operational needs. The main building includes a hood and Ansul system, walk-in cooler, restrooms, and a full kitchen. A separate outbuilding adds five garage bays and additional restroom facilities, supporting indoor vehicle storage alongside showroom, office, banquet, training, EMS, or service-oriented functions. The building was constructed in 1993.
The property occupies 1.15 acres at 1036 E State St in Alliance, Ohio, approximately one mile east of the University of Mount Union. Its combination of food-service infrastructure, garage capacity, and multi-use interior features creates a flexible setting for organizations requiring both customer-facing and operational areas.
The property occupies 1.15 acres at 1036 E State St in Alliance, Ohio, approximately one mile east of the University of Mount Union. Its combination of food-service infrastructure, garage capacity, and multi-use interior features creates a flexible setting for organizations requiring both customer-facing and operational areas.
Key Highlights
- Heated outbuilding with five garage bays
- Main building includes hood and Ansul system plus a walk‑in cooler
- Full kitchen and restroom facilities
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
$23,826
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
3.43%
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%
$476,520
$476.5K
Cap Rate 7%
$340,371
$340.4K
Cap Rate 9%
$264,733
$264.7K
Market Conditions
NOI Build-Up for 7,052 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
$34.6K $4.91/SF
− Vacancy
−$589 −$0.08/SF
EGI
$34.0K $4.83/SF
− OpEx
−$10.2K −$1.45/SF
NOI
$23.8K $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%
$476,520
Cap Rate 7%
$340,371
Cap Rate 9%
$264,733
Alternative Uses
Best Use
Retail
$1.84M
$1.61M – $2.15M
NOI $128,884 @ 7.0% cap · market cap 18.54%
Second Best
Office B
$1.22M
$1.07M – $1.42M
NOI $85,206 @ 7.0% cap · market cap 12.26%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
277
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 44601, OH
33,688
Population
14,532
Households
2.3
Avg Household Size
41
Median Age
17%
College-Educated
90%
High-School Grad
82.0 sq mi
ZIP Area
411
Density / Sq Mi
$61,887
Median Household Income
$33,773
Median Earnings
$803
Median Rent
$142,600
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
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Similar Off Market Nearby
- BJ's Kitchen LLC — 1110 Willow Ave, Alliance, OH 44601
Frequently Asked Questions
What type of property is this?
Flex space - Commercial building with a heated multi-bay outbuilding, food-service infrastructure, and separate office and showroom capability.
Where is this flex space located?
The property is located at 1036 E State St Alliance, OH.
What is the asking price?
The asking price for this property is $695,000.
What are key features of this property?
This property features: Heated outbuilding with five garage bays; Main building includes hood and Ansul system plus a walk‑in cooler; Full kitchen and restroom facilities
