Warehouse and Office Flex
For Sale
Contact for pricing
520 N Arlington St, Akron, OH 44305
Warehouse with 14-foot ceilings, heat, and 3-phase power plus an added office area on 4.4 acres.
Property Size12,250 SF
Price / SF$59.18
Days on Market700
Property Features for 520 N Arlington St
General Information
Standard status
Active
Size
12,250 SF
Property subtype
INDUSTRIAL
Listing Agency:
SVN Summit Commercial Real Estate Advisors
(234) 231-0200
Listed By:
Graydon Fox · License #SAL2019006700
(330) 703-5283
Source:
Moodyscre
Added: Oct 17, 2024
Changed: Sep 8
Last Checked: Sep 15 at 11:07AM
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 SVN Summit Commercial Real Estate Advisors
Investment Insights
Based on property information with market context.
The property includes a 12,250 SF main building, a 2,189 SF outbuilding, and a 302 SF storage shed on 4.4 acres. The main building was originally constructed as an 8,000 SF warehouse, with a later 4,250 SF addition that is approximately half warehouse and half office. The flat rubber membrane roof was installed in 2001 and has been maintained periodically, with leaks addressed as needed. The warehouse has 14’ ceilings, heat, and 3-phase power (400 amps/240 volts). It also features two 10x10 drive-in doors, along with additional cutouts where more drive-in doors could be added.
The 2,189 SF outbuilding was constructed about six years ago and includes five 10x10 drive-in doors and 14’ ceilings in the warehouse. This outbuilding does not include power, heat, or air conditioning. The excess land and large paved area provide room for additional building construction on the lot.
The property is located near Summa Health’s Akron campus and Route 8, and backs up to several rail lines that could be made accessible again. Four parcels are associated with the property: 6709918, 6843760, 6843761, and 6843762.
The 2,189 SF outbuilding was constructed about six years ago and includes five 10x10 drive-in doors and 14’ ceilings in the warehouse. This outbuilding does not include power, heat, or air conditioning. The excess land and large paved area provide room for additional building construction on the lot.
The property is located near Summa Health’s Akron campus and Route 8, and backs up to several rail lines that could be made accessible again. Four parcels are associated with the property: 6709918, 6843760, 6843761, and 6843762.
Key Highlights
- 12,250 SF main building on 4.4 acres at 506‑520 N. Arlington Street in Akron, OH, plus a 2,189 SF out building and 302 SF storage shed.
- Main building originally built as an 8,000 SF warehouse with a 4,250 SF addition (approximately half warehouse and half office).
- Flat rubber membrane roof on the main building installed in 2001; maintained periodically and leaks addressed.
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
$57,128
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
7.88%
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%
$1,142,560
$1.1M
Cap Rate 7%
$816,114
$816.1K
Cap Rate 9%
$634,756
$634.8K
Market Conditions
NOI Build-Up for 12,250 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
$83.8K $6.84/SF
− Vacancy
−$2.2K −$0.18/SF
EGI
$81.6K $6.66/SF
− OpEx
−$24.5K −$2.00/SF
NOI
$57.1K $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%
$1,142,560
Cap Rate 7%
$816,114
Cap Rate 9%
$634,756
Alternative Uses
Best Use
Flex RnD
$1.57M
$1.38M – $1.83M
NOI $110,074 @ 7.0% cap · market cap 15.18%
Second Best
Warehouse
$991.0K
$867.1K – $1.16M
NOI $69,370 @ 7.0% cap · market cap 9.57%
Theoretical Best
Office A
$3.01M
$2.63M – $3.51M
NOI $210,438 @ 7.0% cap · market cap 29.03%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,488
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in Midwest region
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Frequently Asked Questions
What type of property is this?
Flex space - Warehouse with 14-foot ceilings, heat, and 3-phase power plus an added office area on 4.4 acres.
Where is this flex space located?
The property is located at 520 N Arlington St Akron, OH.
What is the asking price?
The asking price for this property is $725,000.
What are key features of this property?
This property features: 12,250 SF main building on 4.4 acres at 506‑520 N. Arlington Street in Akron, OH, plus a 2,189 SF out building and 302 SF storage shed.; Main building originally built as an 8,000 SF warehouse with a 4,250 SF addition (approximately half warehouse and half office).; Flat rubber membrane roof on the main building installed in 2001; maintained periodically and leaks addressed.
