Updated Mixed-Use Building For
For Sale
Contact for pricing
2627 Waynesburg Dr SE, Canton, OH
Mixed-use building with updated retail and office spaces.
Property Size4,602 SF
Lot Size0.40 Acres
Price / SF$38.01
Days on Market710
Property Features for 2627 Waynesburg Dr SE
General Information
Standard status
Active
Size
4,602 SF
Lot size
0.40 Acres
Property subtype
RETAIL
Listing Agency:
Cutler Real Estate | Commercial
(330) 704-5945
Listed By:
Mike Boylan · License #443636
(330) 704-5945
Source:
Moodyscre
Added: Aug 30, 2024
Changed: Aug 8
Last Checked: Aug 8 at 5:01AM
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 | Commercial
Investment Insights
Based on property information with market context.
This mixed-use, all-brick building is situated on a 0.40-acre lot. The property features a completely updated first-floor retail space and second-floor offices. Updates include plumbing, electrical systems, drywall, flooring, lighting, two new furnaces, and a hot water heater. The second-floor office updates include a completely updated kitchen and bathroom. The retail space comprises two showrooms, an office, and a half bathroom. A one-car attached, tandem garage is included. The second-floor office space features four rooms, a kitchen, and a bathroom, along with a spacious back deck accessible from the kitchen. The second-floor office space has a separate entrance from the retail space. The parking lot has been repaved. A fenced-in parking area is located at the back of the building, and ample parking is available in the front. The building has a total size of 4602 square feet.
Key Highlights
- Seller financing available.
- Mixed‑use property with updated retail and office spaces.
- Separate entrances for retail and office spaces.
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
$15,405
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
8.81%
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%
$308,100
$308.1K
Cap Rate 7%
$220,071
$220.1K
Cap Rate 9%
$171,167
$171.2K
Market Conditions
NOI Build-Up for 4,602 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
$27.0K $5.86/SF
− Vacancy
−$2.3K −$0.50/SF
EGI
$24.6K $5.36/SF
− OpEx
−$9.2K −$2.01/SF
NOI
$15.4K $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%
$308,100
Cap Rate 7%
$220,071
Cap Rate 9%
$171,167
Alternative Uses
Best Use
Retail
$1.20M
$1.05M – $1.40M
NOI $84,108 @ 7.0% cap · market cap 48.09%
Second Best
Office B
$794.3K
$695.1K – $926.7K
NOI $55,604 @ 7.0% cap · market cap 31.79%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
200
Businesses Nearby
Explore this area
Business Placement
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?
Mixed-use property - Mixed-use building with updated retail and office spaces.
Where is this mixed-use property located?
The property is located at 2627 Waynesburg Dr SE Canton, OH.
What is the asking price?
The asking price for this property is $174,900.
What are key features of this property?
This property features: Seller financing available.; Mixed‑use property with updated retail and office spaces.; Separate entrances for retail and office spaces.
