Light Industrial Machine
For Sale
$115,000
1108-1/2 Milan Street N, Canal Fulton, OH 44614
CommercialSale, Canal Fulton, OH
Property Size3,360 SF
Lot Size5.31 Acres
Price / SF$34.23
Days on Market112
Property Features for 1108-1/2 Milan Street N
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
Industrial
Rooms
Basement
Subdivision
Village/Canal Fulton
Elementary school district
Northwest LSD Stark- 7612
Middle school district
Northwest LSD Stark- 7612
High school district
Northwest LSD Stark- 7612
Directions
Take Milan St north to Cherry St. to the property address.
Standard status
Active
APN
09502083
Lot size
5.31 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
OL 120 5.31A
Tax Annual Amount
1735
Legal Description
OL 120 5.31A
Utilities
Sewer type
Septic Tank
Heating system
Natural Gas, Forced Air
Cooling system
Central Air
Water source
Well
Building Details
Year built
1960
Listing Agency:
Kiko
(330) 453-9187
Listed By:
Jack W Kiko · License #2003007797
(330) 206-0174
Added: May 5
Changed: Aug 20
Last Checked: Aug 24 at 11:06PM
MLS# 5207625
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.
Located at 1108-1/2 Milan Street N in Canal Fulton, this 3,360-square-foot manufacturing property includes a machine shop constructed in 1960. The main level combines a large shop area with offices, a restroom, and a kitchen. A partial walkout basement adds usable support space.
Building systems include a gas heater serving the shop, a natural-gas forced-air furnace, and central air conditioning. The property sits on 5.31 acres and is zoned Light Industrial. Water is supplied by a well, with septic service on site. The configuration provides a practical base for a small manufacturing or shop operation, subject to confirming specific needs under applicable zoning.
Building systems include a gas heater serving the shop, a natural-gas forced-air furnace, and central air conditioning. The property sits on 5.31 acres and is zoned Light Industrial. Water is supplied by a well, with septic service on site. The configuration provides a practical base for a small manufacturing or shop operation, subject to confirming specific needs under applicable zoning.
Key Highlights
- 3,360 square‑foot machine shop built in 1960
- 5.31‑acre industrial property
- Zoned Light Industrial
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
$10,326
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
8.98%
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%
$206,520
$206.5K
Cap Rate 7%
$147,514
$147.5K
Cap Rate 9%
$114,733
$114.7K
Market Conditions
NOI Build-Up for 3,360 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
$16.1K $4.80/SF
− Vacancy
−$242 −$0.07/SF
EGI
$15.9K $4.73/SF
− OpEx
−$5.6K −$1.65/SF
NOI
$10.3K $3.07/SF
Area
Stark County, OH
Vacancy
1.50%
Lease Rate
$4.80 /SF/Yr
Expense Ratio
35.00%
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%
$206,520
Cap Rate 7%
$147,514
Cap Rate 9%
$114,733
Alternative Uses
Best Use
Industrial
$162.2K
$141.9K – $189.2K
NOI $11,352 @ 7.0% cap · market cap 9.87%
Second Best
Flex RnD
$147.5K
$129.1K – $172.1K
NOI $10,326 @ 7.0% cap · market cap 8.98%
Theoretical Best
Retail
$877.3K
$767.6K – $1.02M
NOI $61,408 @ 7.0% cap · market cap 53.40%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
151
Businesses Nearby
Explore this area
Business Placement
Demographics for 44614, OH
12,922
Population
5,961
Households
2.2
Avg Household Size
44
Median Age
29%
College-Educated
96%
High-School Grad
22.8 sq mi
ZIP Area
567
Density / Sq Mi
$83,143
Median Household Income
$47,580
Median Earnings
$932
Median Rent
$201,700
Median Home Value
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Manufacturing property - Manufacturing property with shop, office, restroom, kitchen, and partial basement areas.
Where is this manufacturing property located?
The property is located at 1108-1/2 Milan Street N Canal Fulton, OH.
What is the asking price?
The asking price for this property is $115,000.
What are key features of this property?
This property features: 3,360 square‑foot machine shop built in 1960; 5.31‑acre industrial property; Zoned Light Industrial
