Brick Apartment Building with
For Sale
$1,490,000
1166 -1170 Sunset Dr, Alliance, OH 44601
Commercially zoned property with covered tenant parking and mixed one- and two-bedroom layouts.
Property Size10,600 SF
Price / SF$140.57
Days on Market42
Property Features for 1166 -1170 Sunset Dr
General Information
Standard status
Active
Size
10,600 SF
Building Details
Year Built
1950
Listing Agency:
Tanner Real Estate Co.
(330) 823-8880
Listed By:
James Tanner · License #152793
Source:
Theacclaimedrealty
Added: Jul 20
Changed: Aug 30
Last Checked: Aug 25 at 5:36AM
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 Tanner Real Estate Co.
Investment Insights
Based on property information with market context.
This all-brick apartment building contains 16 units with a mix of one- and two-bedroom floor plans. Several apartments include sunrooms that add living area and bring additional natural light into the units. The property also provides 16 carports for covered tenant parking.
Constructed in 1950, the building is located at 1166–1170 Sunset Drive in Alliance, Ohio, and carries Commercial zoning. The combination of unit variety, sunroom additions, and dedicated covered parking defines the property's primary physical features.
Constructed in 1950, the building is located at 1166–1170 Sunset Drive in Alliance, Ohio, and carries Commercial zoning. The combination of unit variety, sunroom additions, and dedicated covered parking defines the property's primary physical features.
Key Highlights
- 16‑unit apartment building
- Mix of one- and two‑bedroom floor plans
- Several units include sunrooms
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
$77,638
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
5.21%
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%
$1,552,760
$1.6M
Cap Rate 7%
$1,109,114
$1.1M
Cap Rate 9%
$862,644
$862.6K
Market Conditions
NOI Build-Up for 10,600 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
$146.3K $13.80/SF
− Vacancy
−$5.1K −$0.48/SF
EGI
$141.2K $13.32/SF
− OpEx
−$63.5K −$5.99/SF
NOI
$77.6K $7.32/SF
Area
Stark County, OH
Vacancy
3.50%
Lease Rate
$13.80 /SF/Yr
Expense Ratio
45.00%
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%
$1,552,760
Cap Rate 7%
$1,109,114
Cap Rate 9%
$862,644
Alternative Uses
Best Use
Apartment 5plus
$1.11M
$970.5K – $1.29M
NOI $77,638 @ 7.0% cap · market cap 5.21%
Second Best
—
—
no second resolved use
Theoretical Best
Retail
$2.77M
$2.42M – $3.23M
NOI $193,729 @ 7.0% cap · market cap 13.00%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
353
Businesses Nearby
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 Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Commercially zoned property with covered tenant parking and mixed one- and two-bedroom layouts.
Where is this apartment building located?
The property is located at 1166 -1170 Sunset Dr Alliance, OH.
What is the asking price?
The asking price for this property is $1,490,000.
What are key features of this property?
This property features: 16‑unit apartment building; Mix of one- and two‑bedroom floor plans; Several units include sunrooms
