Versatile Commercial Office
For Sale
Contact for pricing
115 W Aurora Rd, Northfield, OH 44067
Commercial office property suitable for owner-user or investor.
Property Size2,500 SF
Price / SF$200
Days on Market160
Property Features for 115 W Aurora Rd
General Information
Standard status
Active
Size
2,500 SF
Class
A
Property subtype
Office
Zoning
Com
Investment Type
Owner/User
Listing Agency:
Berkshire Hathaway HomeServices Stouffer Realty Inc
(330) 990-0256
Listed By:
William Snow · License #2013001675
Source:
Crexi
Added: Mar 12
Changed: Aug 8
Last Checked: Aug 14 at 9:39AM
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 Inc
Investment Insights
Based on property information with market context.
This commercial office property presents an opportunity for an owner-user or investor. The well-maintained building offers 2,500 square feet of space and currently contains five office units. The property is located in a convenient suburban location.
Key Highlights
- Versatile commercial office property suitable for owner‑user or investor.
- Convenient suburban location.
- Well‑maintained building.
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
$29,568
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
5.91%
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%
$591,360
$591.4K
Cap Rate 7%
$422,400
$422.4K
Cap Rate 9%
$328,533
$328.5K
Market Conditions
NOI Build-Up for 2,500 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
$42.3K $16.92/SF
− Vacancy
−$2.9K −$1.15/SF
EGI
$39.4K $15.77/SF
− OpEx
−$9.9K −$3.94/SF
NOI
$29.6K $11.83/SF
Area
Summit County, OH
Vacancy
6.80%
Lease Rate
$16.92 /SF/Yr
Expense Ratio
25.00%
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%
$591,360
Cap Rate 7%
$422,400
Cap Rate 9%
$328,533
Alternative Uses
Best Use
Office B
$422.4K
$369.6K – $492.8K
NOI $29,568 @ 7.0% cap · market cap 5.91%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$613.5K
$536.8K – $715.8K
NOI $42,947 @ 7.0% cap · market cap 8.59%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
365
Businesses Nearby
Explore this area
Business Placement
Demographics for 44067, OH
19,995
Population
9,201
Households
2.2
Avg Household Size
49
Median Age
40%
College-Educated
94%
High-School Grad
17.2 sq mi
ZIP Area
1,163
Density / Sq Mi
$89,082
Median Household Income
$51,312
Median Earnings
$1,242
Median Rent
$234,800
Median Home Value
Market
Vacancy Rate% for Office 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?
Office units - Commercial office property suitable for owner-user or investor.
Where is this office units located?
The property is located at 115 W Aurora Rd Northfield, OH.
What is the asking price?
The asking price for this property is $500,000.
What are key features of this property?
This property features: Versatile commercial office property suitable for owner‑user or investor.; Convenient suburban location.; Well‑maintained building.
