Ground-Level Medical Office
New
For Sale
$950,000
822 Kumho Drive #101/104, Fairlawn, OH 44333
Accessible condominium office space supports medical, dental, therapy, and general professional uses.
Property Size4,506 SF
Price / SF$210.83
Days on Market6
Property Features for 822 Kumho Drive #101/104
General Information
Standard status
Active
Size
4,506 SF
Class
Class A
Elevators
Yes
Additional Details
Floor
Ground Floor
Highway Access
Yes
Building Details
Year Built
2008
Listing Agency:
Home Equity Realty Group
(330) 350-0016
Listed By:
Roger L Nair · License #2011001849
Source:
Kmlkrealty
Added: Aug 25
Changed: Aug 29
Last Checked: Aug 29 at 6:12PM
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 Home Equity Realty Group
Investment Insights
Based on property information with market context.
This ground-floor medical office condominium contains 4,506 square feet and was built in 2008. The layout includes a reception area, bathrooms, elevator and stair access, and underground parking for unit owners. Its configuration supports medical, dental, therapy, and general professional office use.
The property is located in Fairlawn near I-77, Route 18, and I-71, with connections to Akron, Cleveland, and Canton. The surrounding Fairlawn/Montrose area includes professional offices, retail, dining, and lodging. A professionally managed association maintains the shared property areas.
The property is located in Fairlawn near I-77, Route 18, and I-71, with connections to Akron, Cleveland, and Canton. The surrounding Fairlawn/Montrose area includes professional offices, retail, dining, and lodging. A professionally managed association maintains the shared property areas.
Key Highlights
- 4,506‑square‑foot medical office condominium
- Ground‑level unit with elevator and stair access
- Built in 2008
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
$53,293
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
5.61%
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%
$1,065,860
$1.1M
Cap Rate 7%
$761,329
$761.3K
Cap Rate 9%
$592,144
$592.1K
Market Conditions
NOI Build-Up for 4,506 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
$76.2K $16.92/SF
− Vacancy
−$5.2K −$1.15/SF
EGI
$71.1K $15.77/SF
− OpEx
−$17.8K −$3.94/SF
NOI
$53.3K $11.83/SF
Area
Summit County, OH
Vacancy
6.80%
Lease Rate
$16.92 /SF/Yr
Expense Ratio
25.00%
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%
$1,065,860
Cap Rate 7%
$761,329
Cap Rate 9%
$592,144
Alternative Uses
Best Use
Office B
$761.3K
$666.2K – $888.2K
NOI $53,293 @ 7.0% cap · market cap 5.61%
Second Best
Healthcare Medical
$669.6K
$585.9K – $781.3K
NOI $46,875 @ 7.0% cap · market cap 4.93%
Theoretical Best
Office A
$1.11M
$967.6K – $1.29M
NOI $77,407 @ 7.0% cap · market cap 8.15%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
297
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 44333, OH
19,449
Population
8,598
Households
2.3
Avg Household Size
49
Median Age
64%
College-Educated
98%
High-School Grad
28.4 sq mi
ZIP Area
685
Density / Sq Mi
$119,313
Median Household Income
$63,920
Median Earnings
$1,232
Median Rent
$362,600
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Accessible condominium office space supports medical, dental, therapy, and general professional uses.
Where is this medical office space located?
The property is located at 822 Kumho Drive #101/104 Fairlawn, 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: 4,506‑square‑foot medical office condominium; Ground‑level unit with elevator and stair access; Built in 2008
