Mixed-Use Retail and Apartment
For Sale
$349,900
2757 Cleveland Avenue Northwest, Canton, OH 44709
Mixed-use building with long-term retail tenants, an upstairs apartment, and ample parking near a highway exit.
Property Size6,304 SF
Price / SF$55.50
Days on Market496
Property Features for 2757 Cleveland Avenue Northwest
General Information
Standard status
Active
Size
6,304 SF
Property subtype
Mixed Use
Occupancy
100%
Additional Details
Cap Rate
8%
Highway Access
Yes
Multifamily Units
1
Building Details
Building Size
6,304 SF
Stories
2
Tenancy
Multi
Listing Agency:
Hoff & Leigh Fairlawn
(330) 351-5202
Listed By:
Jeff Davis · License #2001007317
(330) 351-5202
Source:
Hoffleigh
Added: Apr 23, 2025
Changed: Aug 14
Last Checked: Aug 31 at 12:33PM
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 Hoff & Leigh Fairlawn
Investment Insights
Based on property information with market context.
This 6,304 SF mixed-use building includes two retail tenants on the ground level with an apartment above on the second floor. The property is described as well maintained and currently fully leased, and the retail tenants have been in place for a long period of time. The building features a brand new roof, supporting a durable exterior for ongoing operations. Ample parking is also identified as part of the property.
The building is located just off a highway exit, placing it within easy reach for retail traffic and visibility from nearby roadway access. The offering includes two parcels, providing flexibility for how the site is managed and maintained.
For tenants, this configuration supports retail uses that benefit from a direct street-level presence alongside an income-producing residential unit above. For buyers and operators, the combination of long-term retail occupancy and an apartment on the upper level may appeal to those seeking a mixed-use structure in a well-kept, maintained asset with parking and a recently updated roof. Please contact the listing agents for additional details on the units and lease terms.
The building is located just off a highway exit, placing it within easy reach for retail traffic and visibility from nearby roadway access. The offering includes two parcels, providing flexibility for how the site is managed and maintained.
For tenants, this configuration supports retail uses that benefit from a direct street-level presence alongside an income-producing residential unit above. For buyers and operators, the combination of long-term retail occupancy and an apartment on the upper level may appeal to those seeking a mixed-use structure in a well-kept, maintained asset with parking and a recently updated roof. Please contact the listing agents for additional details on the units and lease terms.
Key Highlights
- 6,304 SF mixed‑use building with two retail tenants and an apartment on the second floor
- Fully leased with retail tenants who have been in the building for a long period of time
- Brand new roof
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
$21,103
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
6.03%
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%
$422,060
$422.1K
Cap Rate 7%
$301,471
$301.5K
Cap Rate 9%
$234,478
$234.5K
Market Conditions
NOI Build-Up for 6,304 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
$36.9K $5.86/SF
− Vacancy
−$3.2K −$0.50/SF
EGI
$33.8K $5.36/SF
− OpEx
−$12.7K −$2.01/SF
NOI
$21.1K $3.35/SF
Area
Stark County, OH
Vacancy
8.60%
Lease Rate
$5.86 /SF/Yr
Expense Ratio
37.50%
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%
$422,060
Cap Rate 7%
$301,471
Cap Rate 9%
$234,478
Alternative Uses
Best Use
Retail
$1.65M
$1.44M – $1.92M
NOI $115,214 @ 7.0% cap · market cap 32.93%
Second Best
Mixed Use
$301.5K
$263.8K – $351.7K
NOI $21,103 @ 7.0% cap · market cap 6.03%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
543
Businesses Nearby
Explore this area
Business Placement
Demographics for 44709, OH
18,509
Population
9,218
Households
2
Avg Household Size
42
Median Age
28%
College-Educated
95%
High-School Grad
5.8 sq mi
ZIP Area
3,191
Density / Sq Mi
$53,144
Median Household Income
$34,941
Median Earnings
$818
Median Rent
$149,400
Median Home Value
Market
Vacancy Rate% for Retail 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?
Mixed-use property - Mixed-use building with long-term retail tenants, an upstairs apartment, and ample parking near a highway exit.
Where is this mixed-use property located?
The property is located at 2757 Cleveland Avenue Northwest Canton, OH.
What is the asking price?
The asking price for this property is $349,900.
What are key features of this property?
This property features: 6,304 SF mixed‑use building with two retail tenants and an apartment on the second floor; Fully leased with retail tenants who have been in the building for a long period of time; Brand new roof
