Flex Space with Dual
New
For Sale
$399,000
1107 Melchoir Pl SW, Canton, OH 44707
Two adjacent light-industrial buildings combine shop, office, and heated warehouse areas with substantial electrical capacity.
Property Size9,100 SF
Price / SF$43.85
Days on Market2
Property Features for 1107 Melchoir Pl SW
General Information
Standard status
Active
Size
9,100 SF
Zoning
I-1
Warehouse & Industrial
Warehouse Space
2,800 SF
Office Build-Out
2,388 SF
Three-Phase Power
Yes
Conditioned Warehouse
Yes
Additional Details
Fenced Yard
Yes
Building Details
Year Built
1994
Buildings
2
Listing Agency:
Cutler Real Estate
Listed By:
Michael C Boylan · License #443636
(330) 704-5945
Source:
Groganzeiger
Added: Sep 9
Last Checked: Sep 9 at 3:51PM
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 Cutler Real Estate
Investment Insights
Based on property information with market context.
This flex property comprises two adjoining buildings totaling 9,100 square feet at separate addresses. 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. Its shop layout includes six rooms, a half bath, slop sink area, fenced rear access, and varied ceiling heights. The office portion includes a first-floor lobby, three second-floor offices, a bathroom with shower, storage, and a kitchen area with oak cabinetry. Electrical service was updated in 2020 and includes 600 amps.
The 2,800-square-foot building at 806 Cook Ave. SW is heated and air-conditioned, with an open warehouse layout, 12-foot ceilings, a 10-by-16-foot overhead door, 3-phase 240/480 electric, 10-inch concrete floors, a floor drain, two man doors, a sink, and a large restroom. Both buildings carry I-1 light-industrial zoning. The Melchoir 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 heated and air-conditioned, with an open warehouse layout, 12-foot ceilings, a 10-by-16-foot overhead door, 3-phase 240/480 electric, 10-inch concrete floors, a floor drain, two man doors, a sink, and a large restroom. Both buildings carry I-1 light-industrial zoning. The Melchoir building is vacant, while the Cook Avenue warehouse is leased month to month.
Key Highlights
- Two adjacent buildings totaling 9,100 square feet
- I‑1 light‑industrial zoning at both buildings
- 6,300‑square‑foot shop and office building at 1107 Melchoir Place SW
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
Warehouse
$533.3K
$466.7K – $622.2K
NOI $37,333 @ 7.0% cap · market cap 9.36%
Second Best
Industrial
$439.2K
$384.3K – $512.4K
NOI $30,745 @ 7.0% cap · market cap 7.71%
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
Lease Details
Yes
Fenced yard
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 Industrial in Midwest region
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Frequently Asked Questions
What type of property is this?
Flex space - Two adjacent light-industrial buildings combine shop, office, and heated warehouse areas with substantial electrical capacity.
Where is this flex space located?
The property is located at 1107 Melchoir Pl 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; I‑1 light‑industrial zoning at both buildings; 6,300‑square‑foot shop and office building at 1107 Melchoir Place SW
