Building Details

Buildings 1

Stories 2

Units 15

Tenancy Multi

Listing Agency: Elite Exit Advisors

Listed By: Natalie Luneva · License #9016902-BB

Source: Crexi

Added: Aug 22 Changed: Oct 5 Last Checked: Oct 15 at 12:03AM

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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 Elite Exit Advisors

Investment Insights

Based on property information with market context.

This 15-unit apartment property contains 6,705 square feet across two stories, with exterior walkway access serving the units. Eleven apartments are occupied, while four remain vacant and have prior finish standards. Updated interiors feature luxury vinyl plank flooring, fresh paint, oak trim, and refreshed cabinetry. Utilities are paid by tenants, and the property recorded a 31 percent expense ratio in 2025.

The property is located in Dennison, a village in Tuscarawas County positioned roughly midway between Pittsburgh and Columbus. Trinity Hospital Twin City is in the village, and Kent State University's Tuscarawas campus is seven miles away. Canton provides a larger employment base to the north. Dennison developed as a railroad town following the Pennsylvania Railroad's placement of shops and yards there in 1865; its historic depot is a National Historic Landmark.

Key Highlights

• 15 apartment units across 6,705 square feet
• 11 of 15 units occupied; 4 units vacant
• 10.4% stabilized cap rate

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$49,121

Cap Rate

7.03%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$982,420 $982.4K

Cap Rate 7%

$701,729 $701.7K

Cap Rate 9%

$545,789 $545.8K

Market Conditions

NOI Build-Up for 6,705 SF

Gross rent

$96.6K $14.40/SF

− Vacancy

−$7.2K −$1.08/SF

EGI

$89.3K $13.32/SF

− OpEx

−$40.2K −$5.99/SF

NOI

$49.1K $7.33/SF

Area

Tuscarawas County, OH

Vacancy

7.50%

Lease Rate

$14.40 /SF/Yr

Expense Ratio

45.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$982,420

Cap Rate 7%

$701,729

Cap Rate 9%

$545,789

Alternative Uses

Best Use

Apartment 5plus

$701.7K

$614.0K – $818.7K (±1% cap)

NOI $49,121 @ 7.0% cap · market cap 7.03%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$1.25M

$1.09M – $1.46M (±1% cap)

NOI $87,463 @ 7.0% cap · market cap 12.51%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Apartment buildings

Suggested Use

Top Pick Real Estate Agency Law Firm Building Supply Dental Office Parking Lot & Garage Hair Salon

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

15

Residential units

Location Intelligence

Trade Area within ½ mile

382

Businesses Nearby

Explore this area Business Placement

Demographics for 44621, OH

4,606

Population

1,992

Households

2.3

Avg Household Size

40

Median Age

13%

College-Educated

90%

High-School Grad

32.1 sq mi

ZIP Area

143

Density / Sq Mi

$55,000

Median Household Income

$35,777

Median Earnings

$825

Median Rent

$119,100

Median Home Value

Market

Vacancy Rate% for Multifamily in Midwest region

6.5% 2022

7.5% 2023

7.8% 2024

8% 2025

Questions? Ask Rey

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What type of property is this? Where is this apartment buildings located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Apartment building - Two-story multifamily property with exterior walkways, tenant-paid utilities, and updated finishes in select apartments.

Where is this apartment building located?

The property is located at 15 Grant Street Dennison, OH.

What is the asking price?

The asking price for this property is $699,000.

What are key features of this property?

This property features: 15 apartment units across 6,705 square feet; 11 of 15 units occupied; 4 units vacant; 10.4% stabilized cap rate