Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Versatile Commercial Property Near I-76 Title is generated by Realmo AI

    124 Tallmadge Road, Kent, OH 44240

    View on Map
    Claim this Listing
    For Sale
    $395,000

    Integrated commercial property near retail, office, and residential areas.

    Type:Mixed Use
    Property size:
    1,628 SF
    Price / SF:
    $242/SF
    Added:
    Nov 12, 2024
    Days on Market:
    563
    Last Refresh:
    May 13 at 8:22 pm

    Property Features for 124 Tallmadge Road

    General Information

    Standard status
    Active
    Size
    1,628 SF
    Property subtype
    Mixed Use

    Building Details

    Year Built
    1935

    We can help!

    Listing Contact
    Steve Thompson

    Listing agent Steve Thompson

    Listing office Berkshire Hathaway HomeServices Stouffer Realty

    Listing date Nov 12, 2024

    Source Xome

    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 Berkshire Hathaway HomeServices Stouffer Realty

    HighLights

    • Integrated Commercial Zoning: Offers flexibility for retail, office, or multi‑family residential.
    • Convenient Location: Located within a minute of I‑76 and near many retail establishments.
    • Utility Availability: Electric, gas, and public sewer are available on the property.
    • Renovation Potential: Existing house can be renovated for office space.
    • Water Access: Water is available just to the east of the property.
    • Parking Available: Parking is available at the adjacent lot for viewing.

    Overview

    This property, located within a minute of I-76 and near numerous retail establishments, is zoned integrated commercial, offering flexibility for various uses, including retail, professional office, and multi-family residential. The property includes a house that could be renovated for use as office space. Electric, gas, and public sewer are available. Water is accessible just to the east of the property. The property size is 1628 square feet.

    Local Financial Insights For Office B

    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 $35.0k $21.48
    − Vacancy −$8.4k −$5.13
    EGI $26.6k $16.35
    − OpEx −$6.7k −$4.09
    NOI $20.0k $12.26
    1,628 SF · lease $21.48/SF/yr · vacancy 23.90% · expense 25.00%

    Alternative Uses

    Best Use
    Office B
    $285.1K
    $249.5K – $332.7K (±1% cap)
    NOI $19,959 @ 7.0% cap · market cap 5.05%
    Second Best
    Mixed Use
    $235.5K
    $206.1K – $274.7K (±1% cap)
    NOI $16,484 @ 7.0% cap · market cap 4.17%
    Theoretical Best
    Office A
    $327.9K
    $286.9K – $382.6K (±1% cap)
    NOI $22,954 @ 7.0% cap · market cap 5.81%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Retail space

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Kent
    County
    Portage
    State
    Ohio
    Longitude
    -81.3891873
    Latitude
    41.1002482

    Nearby Similar for Sale

    • $339,900
      1,740 SF

      Kent Multifamily Investment Opportunity

      Single family house and duplex on one corner lot.
      612 Cuyahoga Street, Kent, OH 44240
      View Details
    • $339,900
      1,740 SF

      Multifamily Property in Kent, Ohio

      Single-family house and duplex on a corner lot.
      612 CUYAHOGA STREET, KENT, OH 44240
      View Details
    • $215,000
      2,100 SF

      Income-Producing Multifamily Near Kent State

      Multifamily property near Kent State, ideal for rental income.
      209 Dodge Street, Kent, OH 44240
      View Details
    • $240,000
      2,067 SF

      Spacious Home Near Kent University

      4-bedroom, 2-bath home near downtown Kent and Kent State.
      1039 Anna Avenue, Kent, OH 44240
      View Details
    • $185,000

      Unique Geodesic Dome Property

      Iconic dome building suitable for various commercial ventures.
      166 Currie Hall, Kent, OH 44240
      View Details
    • $659,000
      1,708 SF

      Highway Commercial Property For Sale

      1,708 SF building on 0.92 acres in high-traffic area.
      4260 State Route 43, Kent, OH
      View Details
    • Contact for pricing
      1,740 SF

      Kent, OH Duplex Investment Opportunity

      Two duplexes near Kent State University, offered at online auction.
      1393 - 1397 Loop Road, Kent, OH 44240
      View Details
    • Contact for pricing
      1,740 SF

      Kent Duplexes Near KSU

      Two duplexes near Kent State University, offered at online auction.
      1572 E Summit Street, Kent, OH 44240
      View Details
    • $899,000
      12,520 SF

      Renovated Aurora Warehouses with Expansion Potential

      Recently renovated warehouses on 3.01 acres with expansion potential.
      11415 Chamberlain Rd, Kent, OH
      View Details
    • $1,100,000
      4,430 SF

      Established Restaurant with Loyal Clientele

      Long-standing restaurant with a strong reputation and loyal customer base.
      1609 E Main Street, Kent, OH 44240
      View Details
    • Contact for pricing
      91,000 SF

      91,000 SF Industrial Facility

      91,000 SF industrial facility on 15.5 acres in Kent, OH.
      9 Franklin Ave, Kent, OH
      View Details
    • $450,000
      10,912 SF

      Commercial Property for Sale

      Commercial property available for sale.
      222 Martinel Dr, Kent, OH 44240
      View Details

    FAQs

    What type of property is this?
    Mixed-use property - Integrated commercial property near retail, office, and residential areas.
    Where is this mixed-use property located?
    The property is located at 124 Tallmadge Road Kent, OH.
    What is the asking price?
    The asking price for this property is $395,000.
    What are key features of this property?
    This property features: Integrated Commercial Zoning: Offers flexibility for retail, office, or multi‑family residential.; Convenient Location: Located within a minute of I‑76 and near many retail establishments.; Utility Availability: Electric, gas, and public sewer are available on the property.
    (330) 289-5658
    We can help!
    Listing Contact
    Steve Thompson
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    124 Tallmadge Road, Kent, OH 44240
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!