Mixed-Use Building with Leased
For Sale
$199,900
600 N Main Street North Canton, North Canton, OH 44720
Two-level property with freshly painted retail space and an upstairs 1-bedroom apartment leased month-to-month.
Property Size1,344 SF
Days on Market52
Property Features for 600 N Main Street North Canton
General Information
Standard status
Active
Size
1,344 SF
Additional Details
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$2,681
Amenities
Full,Unfinished
true
Public
0.1343
false
Assessor
Paved,Parking Lot
1344
1
Building Details
Building Size
1,344 SF
Year Built
1924
Buildings
1
Listing Agency:
(330) 590-5379
Listed By:
Ethan Uslick
(330) 590-5379
Source:
Akroncantonhomesonline
Added: Jul 9
Changed: Aug 28
Last Checked: Aug 29 at 6:35AM
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 Ethan Uslick
Investment Insights
Based on property information with market context.
Located at 600 N Main Street in North Canton, this mixed-use building combines a main-level commercial space with a residential unit upstairs. The commercial area has been freshly painted in neutral tones and is described as ready for immediate occupancy. Above, the property includes a 1-bedroom apartment that is currently leased on a month-to-month basis.
The property also offers rear parking, supporting convenient operations for the commercial space and access for residents.
As a for-sale mixed-use asset, it presents a straightforward live-and-work or income-and-occupy configuration, with an actively leased residential unit providing ongoing rental presence while the commercial space is available for new occupancy.
The property also offers rear parking, supporting convenient operations for the commercial space and access for residents.
As a for-sale mixed-use asset, it presents a straightforward live-and-work or income-and-occupy configuration, with an actively leased residential unit providing ongoing rental presence while the commercial space is available for new occupancy.
Key Highlights
- Mixed‑use 2‑level property with 1,344 total building area and 1 building on a 0.1343‑acre lot (per assessor).
- Main‑level commercial space is freshly painted and ready for immediate occupancy.
- Upstairs 1‑bedroom apartment is leased month‑to‑month, providing current rental income.
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
$9,844
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
4.92%
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%
$196,880
$196.9K
Cap Rate 7%
$140,629
$140.6K
Cap Rate 9%
$109,378
$109.4K
Market Conditions
NOI Build-Up for 1,344 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
$18.5K $13.80/SF
− Vacancy
−$649 −$0.48/SF
EGI
$17.9K $13.32/SF
− OpEx
−$8.1K −$5.99/SF
NOI
$9.8K $7.32/SF
Area
Stark County, OH
Vacancy
3.50%
Lease Rate
$13.80 /SF/Yr
Expense Ratio
45.00%
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%
$196,880
Cap Rate 7%
$140,629
Cap Rate 9%
$109,378
Alternative Uses
Best Use
Apartment 5plus
$140.6K
$123.1K – $164.1K
NOI $9,844 @ 7.0% cap · market cap 4.92%
Second Best
Mixed Use
$64.3K
$56.2K – $75.0K
NOI $4,499 @ 7.0% cap · market cap 2.25%
Theoretical Best
Retail
$350.9K
$307.0K – $409.4K
NOI $24,563 @ 7.0% cap · market cap 12.29%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
538
Businesses Nearby
Explore this area
Business Placement
Demographics for 44720, OH
40,744
Population
17,988
Households
2.3
Avg Household Size
43
Median Age
42%
College-Educated
97%
High-School Grad
34.3 sq mi
ZIP Area
1,188
Density / Sq Mi
$81,045
Median Household Income
$46,587
Median Earnings
$977
Median Rent
$233,800
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Two-level property with freshly painted retail space and an upstairs 1-bedroom apartment leased month-to-month.
Where is this mixed-use property located?
The property is located at 600 N Main Street North Canton North Canton, OH.
What is the asking price?
The asking price for this property is $199,900.
What are key features of this property?
This property features: Mixed‑use 2‑level property with 1,344 total building area and 1 building on a 0.1343‑acre lot (per assessor).; Main‑level commercial space is freshly painted and ready for immediate occupancy.; Upstairs 1‑bedroom apartment is leased month‑to‑month, providing current rental income.
