Renovated Office
For Sale
Contact for pricing
122 E College St, Alliance, OH 44601
Office building with many recent renovations, offered for sale at a listed price.
Property Size5,222 SF
Price / SF$210.65
Days on Market115
Property Features for 122 E College St
General Information
Standard status
Active
Size
5,222 SF
Property subtype
OFFICE
Listing Agency:
Platz Realty Group
(330) 757-4889
Listed By:
Matthew Wilson
(330) 347-9677
Source:
Moodyscre
Added: Jun 2
Changed: Sep 9
Last Checked: Sep 22 at 4:22PM
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 Platz Realty Group
Investment Insights
Based on property information with market context.
This office building features many recent renovations. The property is offered for sale.
Located at 122 E College St in Alliance, Ohio, the building is positioned as a dedicated office asset within a commercial setting.
With a total size of 5,222 square feet, the property provides a compact footprint for office use.
Located at 122 E College St in Alliance, Ohio, the building is positioned as a dedicated office asset within a commercial setting.
With a total size of 5,222 square feet, the property provides a compact footprint for office use.
Key Highlights
- Office building offered for sale with many recent renovations.
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
$63,095
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
5.74%
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%
$1,261,900
$1.3M
Cap Rate 7%
$901,357
$901.4K
Cap Rate 9%
$701,056
$701.1K
Market Conditions
NOI Build-Up for 5,222 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
$112.2K $21.48/SF
− Vacancy
−$28.0K −$5.37/SF
EGI
$84.1K $16.11/SF
− OpEx
−$21.0K −$4.03/SF
NOI
$63.1K $12.08/SF
Area
Stark County, OH
Vacancy
25.00%
Lease Rate
$21.48 /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%
$1,261,900
Cap Rate 7%
$901,357
Cap Rate 9%
$701,056
Alternative Uses
Best Use
Office B
$901.4K
$788.7K – $1.05M
NOI $63,095 @ 7.0% cap · market cap 5.74%
Second Best
—
—
no second resolved use
Theoretical Best
Retail
$1.36M
$1.19M – $1.59M
NOI $95,439 @ 7.0% cap · market cap 8.68%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
646
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Office building with many recent renovations, offered for sale at a listed price.
Where is this office building located?
The property is located at 122 E College St Alliance, OH.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: Office building offered for sale with many recent renovations.
