Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    295 S Water St Kent, OH

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    Mixed-use development near Kent State University with retail and office space.

    Type:RETAIL
    Property size:
    1,407 SF
    Lot size:
    0.55 Acres
    Added:
    Oct 16, 2024
    Days on Market:
    561
    Last Refresh:
    Apr 5 at 10:08 pm

    Property Features for 295 S Water St

    General Information

    Standard status
    Active
    Size
    1,407 SF
    Lot size
    0.55 Acres
    Property subtype
    RETAIL

    Spaces For Lease

    at 295 S Water St Contact us

    We can help!

    Listing Contact
    Joseph Khouri
    Joseph Khouri

    Listing agent Joseph Khouri License #2008000837

    Listing office CBRE | Cleveland

    Listing date Oct 16, 2024

    Source Moodyscre

    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 CBRE | Cleveland

    Overview

    Mixed-Use Development in Kent, OH

    This mixed-use development is located in the heart of Kent, Ohio, a classic college town. The neighborhood is vibrant and active around the clock, with a diverse mix of residents. The property is less than a five-minute walk from the Kent State University campus and student neighborhoods. It offers a strong experiential retail environment, encouraging pedestrian engagement and outdoor dining, and provides ample parking. The development includes 50,000 square feet of retail and restaurant space, a 94-room boutique hotel, and 77,000 square feet of Class A office space occupied by tenants such as AMETEK, DAVEY, and Smithers-Oasis. Residential options include 84 units across two properties: AVANT 220 and The Landmark. There are 325 parking spaces available. The development also features a community green space, the Dan Smith Community Park, for events. Available spaces include retail properties, restaurants, office space, and other shopping center options. One available space is 1,407 square feet.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Insomnia Cookies (Bike/Boat/Book/etc) Store Smithers-Oasis Company Corporate Office Davey Resource Group Environmental Consultant Milan Laser Hair ... Skin Care Clinic

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    • University Plaza — 127 Cherry St, Kent, OH 44240
    • College Town Kent — 210 S Depeyster St, Kent, OH 44240

    Location Insight

    • Map
    • Local Demand
    City
    Kent
    County
    Portage
    State
    Ohio
    Longitude
    -81.358
    Latitude
    41.1521

    Nearby Similar for Lease

    • Contact for pricing

      Kent Plaza Retail Space Available

      Grocery-anchored shopping center near Kent State University with high visibility.
      1709 SR 59, Kent, OH 44240
      View Details
    • Contact for pricing

      Warehouse/Light Manufacturing Space Available

      12,000 SF warehouse/light manufacturing space near I-76.
      1 163 Holiday Dr, Kent, OH 44240
      View Details
    • Contact for pricing

      Retail Space Near Kent State

      Retail space for lease near Kent State University.
      2108 SR-59, Kent, OH, 44240
      View Details
    • Contact for pricing

      Retail Space Inside Meijer

      Prime retail opportunity within high-traffic Meijer stores in the Midwest.
      255 Tallmadge Rd, Kent, OH 44240
      View Details
    • $5 SF/Yr

      Kent Warehouse with Office Space

      12,000 SF warehouse with office space for lease.
      1163 Holiday Dr, Kent, OH
      View Details
    • Contact for pricing

      Downtown Kent Retail Opportunity

      Retail space in the heart of Downtown Kent.
      101 East Main Street, Kent, OH, 44240
      View Details
    • Contact for pricing

      Retail/Office Space Near Kent State

      Retail or office space near Kent State University.
      1830 E Main St, Kent, OH
      View Details
    • Contact for pricing

      Kent Office Space For Rent

      Office space available at signalized corner in Kent, Ohio.
      5138 State Route 43, Kent, OH
      View Details
    • Contact for pricing

      Retail Space Near Kent State

      Retail space with high visibility and ample parking available for lease.
      1709 E Main St, Kent, OH
      View Details
    • Contact for pricing

      Retail Spaces Available in Kent

      Three retail spaces available near Kent State University campus.
      2594 State Rte 59, Kent, OH
      View Details
    • Contact for pricing

      Retail Spaces in Kent, Ohio

      Multiple retail spaces available in Kent, Ohio shopping center.
      3975 Cascades Blvd, Kent, OH
      View Details
    • Contact for pricing

      Mixed-Use Development in Kent, OH

      Mixed-use development with retail, restaurants, hotel, office, and residential.
      220 S Depeyster St, Kent, OH
      View Details

    FAQs

    What type of property is this?
    Shopping center - Mixed-use development near Kent State University with retail and office space.
    Where is this shopping center located?
    The property is located at 295 S Water St Kent, OH.
    What are key features of this property?
    This property features: Prime location in the heart of Kent, OH, a vibrant 24/7 college town, less than 5‑minute walk to Kent State University.; Mixed‑use development featuring 50,000 SF of retail/restaurants, a 94‑room boutique hotel, and **77,000 SF of Class A office space.**; Includes 84 residential units across two properties (AVANT 220 & The Landmark).
    (216) 658-6120 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Joseph Khouri
    Joseph Khouri
    Real Estate License ID: 2008000837
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!