Historic Art Deco Office
New
For Sale
$4,000,000
1800 Triplett Boulevard, Akron, OH 44306
The property combines private airport access with a nationally recognized aviation history and office use.
Property Size15,014 SF
Price / SF$266.42
Days on Market4
Property Features for 1800 Triplett Boulevard
General Information
Standard status
Active
Size
15,014 SF
Class
A
Property subtype
Office
Zoning
U5-H1, A2
Amenities
Private Airport Access
Building Details
Building Size
15,014 SF
Year Built
1930
Buildings
1
Construction
Art Deco
Listing Agency:
Hoff & Leigh
(330) 940-9360
Listed By:
Tom Franjesh · License #BRKP.2009002386
(330) 328-3327
Source:
Hoffleigh
Added: Sep 3
Changed: Sep 5
Last Checked: Sep 5 at 3:18PM
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
Investment Insights
Based on property information with market context.
Built in 1930, this 15,014-square-foot office property served as the Akron-Fulton International Airport administration building and later supported commercial and private aircraft operations. The structure features Art Deco design and is identified as a Class A office building. Its historic renovation has received state and national recognition.
The property remains listed on the National Register of Historic Places and is associated with the growth of commercial aviation in Northeast Ohio. Private airport access adds a distinctive operational feature, while U5-H1 and A2 zoning provide the stated land-use designations. Located at 1800 Triplett Boulevard in Akron, Ohio, the building offers a distinctive office setting within a former airport terminal.
The property remains listed on the National Register of Historic Places and is associated with the growth of commercial aviation in Northeast Ohio. Private airport access adds a distinctive operational feature, while U5-H1 and A2 zoning provide the stated land-use designations. Located at 1800 Triplett Boulevard in Akron, Ohio, the building offers a distinctive office setting within a former airport terminal.
Key Highlights
- 15,014‑square‑foot office building constructed in 1930
- Former Akron‑Fulton International Airport administration building
- Art Deco architectural design with Class A office designation
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
$177,572
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
4.44%
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%
$3,551,440
$3.6M
Cap Rate 7%
$2,536,743
$2.5M
Cap Rate 9%
$1,973,022
$2.0M
Market Conditions
NOI Build-Up for 15,014 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
$254.0K $16.92/SF
− Vacancy
−$17.3K −$1.15/SF
EGI
$236.8K $15.77/SF
− OpEx
−$59.2K −$3.94/SF
NOI
$177.6K $11.83/SF
Area
Akron, 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%
$3,551,440
Cap Rate 7%
$2,536,743
Cap Rate 9%
$1,973,022
Alternative Uses
Best Use
Office B
$2.54M
$2.22M – $2.96M
NOI $177,572 @ 7.0% cap · market cap 4.44%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.68M
$3.22M – $4.30M
NOI $257,920 @ 7.0% cap · market cap 6.45%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
164
Businesses Nearby
Explore this area
Business Placement
Demographics for 44306, OH
21,085
Population
10,424
Households
2
Avg Household Size
34
Median Age
9%
College-Educated
86%
High-School Grad
8.3 sq mi
ZIP Area
2,540
Density / Sq Mi
$41,105
Median Household Income
$30,481
Median Earnings
$901
Median Rent
$77,500
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?
Office building - The property combines private airport access with a nationally recognized aviation history and office use.
Where is this office building located?
The property is located at 1800 Triplett Boulevard Akron, OH.
What is the asking price?
The asking price for this property is $4,000,000.
What are key features of this property?
This property features: 15,014‑square‑foot office building constructed in 1930; Former Akron‑Fulton International Airport administration building; Art Deco architectural design with Class A office designation
