Two-Story Mixed-Use
For Sale
$175,000
137 Federal Ave NW, Massillon, OH 44647
Open interiors provide flexible space for office, retail, or service-oriented uses.
Property Size4,200 SF
Price / SF$41.67
Days on Market56
Property Features for 137 Federal Ave NW
General Information
Standard status
Active
Size
4,200 SF
Additional Details
Road Access
Yes
Office Units
2
Building Details
Year Built
1999
Buildings
1
Stories
2
Building Size
4,200 SF
Tenancy
Multi
Listing Agency:
Keller Williams Legacy Group Realty
(330) 879-5000
Listed By:
Jared E Dutton · License #2005014275
Source:
Groganzeiger
Added: Jul 6
Changed: Aug 30
Last Checked: Aug 25 at 4:47AM
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 Keller Williams Legacy Group Realty
Investment Insights
Based on property information with market context.
This 4,200+/- square foot mixed-use building, constructed in 1999, is arranged as two separate units across the first and second floors. The interiors have been cleared, creating open layouts that can be customized for office, retail, or service-oriented operations.
The first floor provides direct street access and strong exposure from its downtown setting. The upper unit benefits from abundant natural light, supporting office, creative-work, or retail configurations. The property is located at 137 Federal Avenue NW in Massillon, Ohio, minutes from State Route 21, and may accommodate either an owner-occupant or separate leasing of the units.
The first floor provides direct street access and strong exposure from its downtown setting. The upper unit benefits from abundant natural light, supporting office, creative-work, or retail configurations. The property is located at 137 Federal Avenue NW in Massillon, Ohio, minutes from State Route 21, and may accommodate either an owner-occupant or separate leasing of the units.
Key Highlights
- 4,200+/- square feet of mixed‑use commercial space
- Two separate units spanning the first and second floors
- Cleared interiors with open floor plans for customization
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
$14,060
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
8.03%
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%
$281,200
$281.2K
Cap Rate 7%
$200,857
$200.9K
Cap Rate 9%
$156,222
$156.2K
Market Conditions
NOI Build-Up for 4,200 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
$24.6K $5.86/SF
− Vacancy
−$2.1K −$0.50/SF
EGI
$22.5K $5.36/SF
− OpEx
−$8.4K −$2.01/SF
NOI
$14.1K $3.35/SF
Area
Stark County, OH
Vacancy
8.60%
Lease Rate
$5.86 /SF/Yr
Expense Ratio
37.50%
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%
$281,200
Cap Rate 7%
$200,857
Cap Rate 9%
$156,222
Alternative Uses
Best Use
Retail
$1.10M
$959.5K – $1.28M
NOI $76,760 @ 7.0% cap · market cap 43.86%
Second Best
Office B
$725.0K
$634.3K – $845.8K
NOI $50,747 @ 7.0% cap · market cap 29.00%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Office units
Multi-tenant
Tenancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
790
Businesses Nearby
Explore this area
Business Placement
Demographics for 44647, OH
18,368
Population
8,187
Households
2.2
Avg Household Size
44
Median Age
16%
College-Educated
93%
High-School Grad
28.9 sq mi
ZIP Area
636
Density / Sq Mi
$65,974
Median Household Income
$40,636
Median Earnings
$946
Median Rent
$141,700
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?
Mixed-use property - Open interiors provide flexible space for office, retail, or service-oriented uses.
Where is this mixed-use property located?
The property is located at 137 Federal Ave NW Massillon, OH.
What is the asking price?
The asking price for this property is $175,000.
What are key features of this property?
This property features: 4,200+/- square feet of mixed‑use commercial space; Two separate units spanning the first and second floors; Cleared interiors with open floor plans for customization
