Freestanding Flex
For Sale
$650,000
144 N Canton Rd, Akron, OH 44305
Freestanding commercial building combining showroom, office, warehouse, refrigerated processing, and cooler areas.
Property Size9,992 SF
Lot Size1.19 Acres
Price / SF$65.05
Days on Market178
Property Features for 144 N Canton Rd
General Information
Standard status
Active
Size
9,992 SF
Lot size
1.19 Acres
Property subtype
Industrial
Zoning
U-4 Heavy Commercial
Site & Location
Highway Access
Yes
Road Access
Yes
Warehouse & Industrial
Clear Height
14.5 ft
Office Build-Out
1,014 SF
Dock-High Doors
2
Drive-In Doors
2
Cold Storage
Yes
Building Details
Building Size
9,992 SF
Year Built
1963
Buildings
1
Construction
concrete block
Listing Agency:
Hoff & Leigh Fairlawn
(330) 217-7490
Listed By:
Teigan Cook · License #BRKP.2009002386
(330) 217-7490
Source:
Hoffleigh
Added: Mar 5
Changed: Aug 29
Last Checked: Aug 29 at 6:06PM
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 Hoff & Leigh Fairlawn
Investment Insights
Based on property information with market context.
This freestanding flex property contains 9,992 SF on 1.19 acres and was constructed in 1963 with concrete-block walls and steel bar joists. The front portion includes approximately 2,314 SF of showroom space with a drop ceiling and radiant tube heat, plus approximately 1,014 SF of offices with four restrooms and one shower. Separate air systems serve the showroom and retail area, office areas, and an additional small office.
Warehouse space occupies the balance of the building, with clear heights ranging from 13'6" to 14'6". Loading includes two dock-high doors and two drive-in doors. The property also contains a refrigerated processing area, two larger coolers, and an additional smaller cooler. Zoned U-4 Heavy Commercial, the site is positioned on North Canton Road in Akron with approximately 17,597 VPD and access to I-76.
Warehouse space occupies the balance of the building, with clear heights ranging from 13'6" to 14'6". Loading includes two dock-high doors and two drive-in doors. The property also contains a refrigerated processing area, two larger coolers, and an additional smaller cooler. Zoned U-4 Heavy Commercial, the site is positioned on North Canton Road in Akron with approximately 17,597 VPD and access to I-76.
Key Highlights
- 9,992 SF freestanding flex/warehouse building on 1.19 acres
- Approximately 2,314 SF of showroom space and 1,014 SF of office area
- Warehouse clear heights from 13'6" to 14'6"
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
$56,583
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
8.71%
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%
$1,131,660
$1.1M
Cap Rate 7%
$808,329
$808.3K
Cap Rate 9%
$628,700
$628.7K
Market Conditions
NOI Build-Up for 9,992 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
$68.3K $6.84/SF
− Vacancy
−$1.8K −$0.18/SF
EGI
$66.6K $6.66/SF
− OpEx
−$10.0K −$1.00/SF
NOI
$56.6K $5.66/SF
Area
Akron, OH
Vacancy
2.60%
Lease Rate
$6.84 /SF/Yr
Expense Ratio
15.00%
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%
$1,131,660
Cap Rate 7%
$808,329
Cap Rate 9%
$628,700
Alternative Uses
Best Use
Retail
$1.61M
$1.41M – $1.88M
NOI $112,817 @ 7.0% cap · market cap 17.36%
Second Best
Flex RnD
$1.28M
$1.12M – $1.50M
NOI $89,784 @ 7.0% cap · market cap 13.81%
Theoretical Best
Office A
$2.45M
$2.15M – $2.86M
NOI $171,649 @ 7.0% cap · market cap 26.41%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
14 ft
Clear height
2
Dock-high doors
2
Drive-in doors
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
249
Businesses Nearby
Under-served
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
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Freestanding commercial building combining showroom, office, warehouse, refrigerated processing, and cooler areas.
Where is this flex space located?
The property is located at 144 N Canton Rd Akron, OH.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: 9,992 SF freestanding flex/warehouse building on 1.19 acres; Approximately 2,314 SF of showroom space and 1,014 SF of office area; Warehouse clear heights from 13'6" to 14'6"
