Mixed-Use
For Sale
$1,890,000
127 E Main Street, Ravenna, OH 44266
The building combines commercial units and offices with residential apartments.
Property Size33,323 SF
Price / SF$56.72
Days on Market189
Property Features for 127 E Main Street
General Information
Standard status
Active
Size
33,323 SF
Property subtype
Mixed Use
Site & Location
Corner Location
Yes
Traffic Count
30,000 vehicles/day
Highway Access
Yes
Road Access
Yes
Mixed-Use Components
retail, residential, theatre
Additional Details
Multifamily Units
17
Taxes and HOA fees
Annual Taxes
$20,255
Building Details
Year Built
1870
Tenancy
Multi
Listing Agency:
Life Stages Realty LLC
Listed By:
Nicolette Kuebeler · License #2022002552
(330) 322-3637
Source:
Lifestagesrealty
Added: Apr 22
Changed: Oct 26
Last Checked: Oct 26 at 3:35PM
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 Life Stages Realty LLC
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Investment Insights
Based on property information with market context.
The mixed-use building contains 11 commercial units or offices alongside 17 residential apartments, bringing commercial and residential space together in one property.
Key Highlights
- 11 commercial units or offices
- 17 residential apartment units
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$131,397
Cap Rate
6.95%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,627,940
$2.6M
Cap Rate 7%
$1,877,100
$1.9M
Cap Rate 9%
$1,459,967
$1.5M
Market Conditions
NOI Build-Up for 33,323 SF
Gross rent
$195.9K $5.88/SF
− Vacancy
−$8.2K −$0.25/SF
EGI
$187.7K $5.63/SF
− OpEx
−$56.3K −$1.69/SF
NOI
$131.4K $3.94/SF
Area
Portage County, OH
Vacancy
4.20%
Lease Rate
$5.88 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,627,940
Cap Rate 7%
$1,877,100
Cap Rate 9%
$1,459,967
Alternative Uses
Best Use
Mixed Use
$4.82M
$4.22M – $5.62M
NOI $337,395 @ 7.0% cap · market cap 17.85%
Second Best
Apartment 5plus
$3.84M
$3.36M – $4.47M
NOI $268,471 @ 7.0% cap · market cap 14.20%
Theoretical Best
Office A
$6.71M
$5.87M – $7.83M
NOI $469,848 @ 7.0% cap · market cap 24.86%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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See the owner, sales and loan history
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Current Use
Lease Details
17
Residential units
30,000 VPD
Traffic count
Multi-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
767
Businesses Nearby
Explore this area
Business Placement
Demographics for 44266, OH
32,606
Population
15,036
Households
2.2
Avg Household Size
43
Median Age
21%
College-Educated
92%
High-School Grad
91.9 sq mi
ZIP Area
355
Density / Sq Mi
$61,211
Median Household Income
$40,068
Median Earnings
$904
Median Rent
$159,900
Median Home Value
Check the figures for this property
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Mixed-use property - The building combines commercial units and offices with residential apartments.
Where is this mixed-use property located?
The property is located at 127 E Main Street Ravenna, OH.
What is the asking price?
The asking price for this property is $1,890,000.
What are key features of this property?
This property features: 11 commercial units or offices; 17 residential apartment units
