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

    2108 State Route 59 Kent, OH 44240

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    Retail space for lease near Kent State University.

    Property size:
    5,000 SF
    Lot size:
    5,000 SF

    Property Features for 2108 State Route 59

    General Information

    Standard status
    Active
    Size
    5,000 SF

    We can help!

    Listing Contact
    David Comernisky
    Source: Cbre

    Listing Agent: David Comernisky

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    Retail Space Near Kent State

    This retail space offers up to 5,000 square feet for lease and is situated on 5.08 acres. The total building size is 7,765 square feet. The property was renovated in 2011 and offers excellent visibility and access, along with ample parking. There are 90 paved parking spaces available. Located near Akron Children’s Hospital, Crystal Clinic Complex, and Walmart Supercenter, the property is less than five minutes east of Kent State University, which has an annual enrollment of approximately 25,000 students and is the area's largest employer. The zoning is commercial C-1 and I-1, and the property includes large pole signage.
    Location Intelligence

    Current Use by Public Records

    Retail space

    Suggested Use

    Restaurant Real Estate Agency Law Firm Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon Hotel & Motel

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

    Location Insight

    • Map
    • Local Demand
    City
    Kent
    County
    Portage
    State
    Ohio
    Longitude
    -81.315827
    Latitude
    41.154852

    Nearby Similar for Lease

    • Contact for pricing

      Kent Plaza Retail Space Available

      Grocery-anchored shopping center near Kent State University with high visibility.
      1709 State Route 59, Kent, OH 44240
      View Details
    • Contact for pricing
      7,895 SF

      Retail/Office Space Near Kent State

      Retail or office space near Kent State University.
      1830 E Main St, Kent, OH 44240
      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 44240
      View Details
    • $5 SF/Yr
      12,000 SF

      Kent Warehouse with Office Space

      12,000 SF warehouse with office space for lease.
      1163 Holiday Dr, Kent, OH 44240
      View Details
    • Contact for pricing
      1,600 SF

      Retail Space Near Kent State

      Retail space with high visibility and ample parking available for lease.
      1709 E Main St, Kent, OH 44240
      View Details
    • Contact for pricing
      2,080 SF

      Retail Spaces Available in Kent

      Three retail spaces available near Kent State University campus.
      2594 State Route 59, Kent, OH 44240
      View Details
    • Contact for pricing
      7,200 SF

      Prime Kent, OH Office Space

      Executive Suites, 1,800-5,400 SF Available
      1910 State Route 59, Kent, OH 44240
      View Details
    • Contact for pricing
      2,330 SF

      Retail Spaces in Kent, Ohio

      Multiple retail spaces available in Kent, Ohio shopping center.
      3975 Cascades Blvd, Kent, OH 44240
      View Details
    • Contact for pricing
      1,407 SF

      Mixed-Use Development in Kent, OH

      Mixed-use development near Kent State University with retail and office space.
      295 S Water St, Kent, OH 44240
      View Details
    • Contact for pricing
      2,371 SF

      Mixed-Use Development in Kent, OH

      Mixed-use development with retail, restaurants, hotel, office, and residential.
      220 S Depeyster St, Kent, OH 44240
      View Details
    • Contact for pricing
      1,356 SF

      Mixed-Use Development in Kent, OH

      Mixed-use development near Kent State University with retail and office space.
      215 S Water St, Kent, OH 44240
      View Details
    • Contact for pricing
      767 SF

      Meijer In-Store Retail Space

      767 sq ft, prime retail location
      255 Tallmadge Rd, Kent, OH 44240
      View Details

    FAQs

    What type of property is this?
    Retail space - Retail space for lease near Kent State University.
    Where is this retail space located?
    The property is located at 2108 State Route 59 Kent, OH.
    What are key features of this property?
    This property features: - Excellent visibility and access make this a prime location.; - Ample parking with 90 paved spaces.; - Located near Akron Children’s Hospital, Crystal Clinic Complex & Walmart Supercenter.
    (216) 363-6427
    Request Owner's contact information
    2108 State Route 59 Kent, OH 44240
    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.
    2108 State Route 59
    Kent, OH 44240
    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
    2108 State Route 59 Kent, OH 44240
    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

    We can help!
    Listing Contact
    David Comernisky
    Learn More
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!