E. Market Street Commercial
For Sale
Contact for pricing
1532 - 1554 East Market Street Akron, Akron, OH 44305
Two commercial buildings on 0.59 acres near I-76.
Property Size5,681 SF
Lot Size0.59 Acres
Price / SF$70.23
Days on Market503
Property Features for 1532 - 1554 East Market Street Akron
General Information
Standard status
Active
Size
5,681 SF
Lot size
0.59 Acres
Property subtype
Retail
Listing Agency:
Hoff & Leigh Fairlawn
(330) 760-4494
Listed By:
Ed Jesson · License #OH SAL.0000445027
Source:
Crexi
Added: Apr 3, 2025
Changed: Aug 12
Last Checked: Aug 17 at 12:12PM
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.
Two buildings are available for sale on E. Market Street (SR 18), situated near high-end auto dealerships and the East End development. One building, located at 1532 E. Market Street, has a size of 1,681 square feet and is currently operating as a used car sales business. The second building, located at 1544 E. Market Street, offers 4,000 square feet and is currently used as an automotive repair facility. The properties are positioned on a combined 0.5932 acres, with the rear of the property bordering I-76. Zoned U-4 Commercial District, the location allows for a range of commercial uses, including retail, industrial, warehousing, automotive repairs, automotive sales, and manufacturing. The total property size is 5,681 square feet.
Key Highlights
- Two buildings totaling 5,681 SF on 0.5932 acres.
- High‑traffic location on E. Market Street (SR 18) near high‑end auto dealerships and the East End development.
- U‑4 Commercial District zoning allows for a wide variety of commercial uses.
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
$26,493
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
6.64%
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%
$529,860
$529.9K
Cap Rate 7%
$378,471
$378.5K
Cap Rate 9%
$294,367
$294.4K
Market Conditions
NOI Build-Up for 5,681 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
$38.9K $6.84/SF
− Vacancy
−$1.0K −$0.18/SF
EGI
$37.8K $6.66/SF
− OpEx
−$11.4K −$2.00/SF
NOI
$26.5K $4.66/SF
Area
Akron, OH
Vacancy
2.60%
Lease Rate
$6.84 /SF/Yr
Expense Ratio
30.00%
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%
$529,860
Cap Rate 7%
$378,471
Cap Rate 9%
$294,367
Alternative Uses
Best Use
Retail
$916.3K
$801.8K – $1.07M
NOI $64,142 @ 7.0% cap · market cap 16.08%
Second Best
Industrial
$378.5K
$331.2K – $441.6K
NOI $26,493 @ 7.0% cap · market cap 6.64%
Theoretical Best
Office A
$1.39M
$1.22M – $1.63M
NOI $97,592 @ 7.0% cap · market cap 24.46%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
518
Businesses Nearby
147k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 54%
Shops & Services 22%
Groceries 17%
Home Improvements & Furnishings 5%
Whole Foods Market
Groceries
25,512 visits/mo
0.4 miles
McDonald's
Dining
19,837 visits/mo
0.2 miles
Circle K
Shops & Services
17,617 visits/mo
0.3 miles
Swensons Drive-In
Dining
13,412 visits/mo
0.2 miles
Sunoco
Shops & Services
7,908 visits/mo
0.0 miles
Demographics for 44305, OH
21,214
Population
10,230
Households
2.1
Avg Household Size
38
Median Age
17%
College-Educated
88%
High-School Grad
6.7 sq mi
ZIP Area
3,166
Density / Sq Mi
$55,909
Median Household Income
$37,409
Median Earnings
$974
Median Rent
$89,900
Median Home Value
Market
Vacancy Rate% for Retail in Akron, OH
Questions? Ask Rey
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Similar Off Market Nearby
- Penske Truck Rental — 1897 W Market St, Akron, OH 44313
Frequently Asked Questions
What type of property is this?
Automotive property - Two commercial buildings on 0.59 acres near I-76.
Where is this automotive property located?
The property is located at 1532 - 1554 East Market Street Akron Akron, OH.
What is the asking price?
The asking price for this property is $399,000.
What are key features of this property?
This property features: Two buildings totaling 5,681 SF on 0.5932 acres.; High‑traffic location on E. Market Street (SR 18) near high‑end auto dealerships and the East End development.; U‑4 Commercial District zoning allows for a wide variety of commercial uses.
