Renovated Retail Building with
For Sale
Contact for pricing
2108 sr 59, Kent, OH 44240
Renovated retail building on 5.08 acres with 7,765 SF and 90 paved parking spaces.
Property Size7,765 SF
Lot Size5.08 Acres
Price / SF$122.34
Days on Market750
Property Features for 2108 sr 59
General Information
Standard status
Active
Size
7,765 SF
Total Parking Spaces
90
Lot size
5.08 Acres
Property subtype
RETAIL
Zoning
C-1 & I-1
Additional Details
Business Included
No
Amenities
large pole signage
Building Details
Year Built
1975
Year Renovated
2011
Listing Agency:
CBRE | Akron
(330) 670-4444
Listed By:
David Comernisky
(330) 472-8970
Source:
Moodyscre
Added: Oct 8, 2024
Changed: Oct 25
Last Checked: Oct 26 at 8:00PM
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 CBRE | Akron
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Investment Insights
Based on property information with market context.
A renovated retail building totaling 7,765 SF on 5.08 acres, built in 1975 and updated in 2011. The property includes large pole signage and is laid out to support straightforward retail operations.
Located at 2108 SR 59 in Kent, OH 44240, the site is positioned for strong visibility and convenient access. Parking includes 90 paved spaces, supporting both customer and employee use.
Zoned for commercial C-1 and I-1, the property’s configuration and land area may accommodate a range of retail-oriented uses consistent with the provided zoning.
Located at 2108 SR 59 in Kent, OH 44240, the site is positioned for strong visibility and convenient access. Parking includes 90 paved spaces, supporting both customer and employee use.
Zoned for commercial C-1 and I-1, the property’s configuration and land area may accommodate a range of retail-oriented uses consistent with the provided zoning.
Key Highlights
- 5.08‑acre site with a renovated retail building totaling 7,765 SF
- Built in 1975 and renovated in 2011
- Zoned commercial C‑1 & I‑1
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$30,618
Cap Rate
3.22%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$612,360
$612.4K
Cap Rate 7%
$437,400
$437.4K
Cap Rate 9%
$340,200
$340.2K
Market Conditions
NOI Build-Up for 7,765 SF
Gross rent
$45.7K $5.88/SF
− Vacancy
−$1.9K −$0.25/SF
EGI
$43.7K $5.63/SF
− OpEx
−$13.1K −$1.69/SF
NOI
$30.6K $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%
$612,360
Cap Rate 7%
$437,400
Cap Rate 9%
$340,200
Alternative Uses
Best Use
Retail
$437.4K
$382.7K – $510.3K
NOI $30,618 @ 7.0% cap · market cap 3.22%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.56M
$1.37M – $1.82M
NOI $109,485 @ 7.0% cap · market cap 11.52%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
200
Businesses Nearby
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Business Placement
Demographics for 44240, OH
38,354
Population
20,228
Households
1.9
Avg Household Size
32
Median Age
44%
College-Educated
96%
High-School Grad
39.7 sq mi
ZIP Area
966
Density / Sq Mi
$57,415
Median Household Income
$31,613
Median Earnings
$989
Median Rent
$216,000
Median Home Value
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Market
Vacancy Rate% for Retail in Midwest region
Frequently Asked Questions
What type of property is this?
Retail space - Renovated retail building on 5.08 acres with 7,765 SF and 90 paved parking spaces.
Where is this retail space located?
The property is located at 2108 sr 59 Kent, OH.
What is the asking price?
The asking price for this property is $950,000.
What are key features of this property?
This property features: 5.08‑acre site with a renovated retail building totaling 7,765 SF; Built in 1975 and renovated in 2011; Zoned commercial C‑1 & I‑1
