Mixed-Use Space Near Route
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1903 Brown St, Akron, OH 44301
Mixed-use property suitable for office, retail, or medical use.
Property Size990 SF
Price / SF$196.87
Days on Market169
Property Features for 1903 Brown St
General Information
Standard status
Active
Size
990 SF
Total Parking Spaces
12
Property subtype
Mixed Use
Zoning
Office
Building Details
Year Built
1984
Listing Agency:
Berkshire Hathaway HomeServices Simon & Salhany Realty
(330) 801-3079
Listed By:
Paul Simon · License #BRKP.0700320599
Source:
Crexi
Added: Mar 6
Changed: Aug 14
Last Checked: Aug 22 at 2:34PM
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 Berkshire Hathaway HomeServices Simon & Salhany Realty
Investment Insights
Based on property information with market context.
This mixed-use property, constructed in 1984, is located at the corner of Brown St and Waterloo Rd. Currently, the building is configured to accommodate two separate businesses: a beauty shop and office space. The 990 square foot property is suitable for office, retail, medical, or other professional uses. It features a paved private parking lot for customers and employees. The property is located approximately 1/4 mile from Route 8, situated between Cleveland and Canton.
Key Highlights
- Mixed‑use space ideal for office, retail, medical, or professional use
- Private paved parking lot for customers and employees
- Excellent location on the corner of Brown St & Waterloo Rd, ¼ mile from Route 8, between Cleveland & Canton
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
$10,469
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
5.37%
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%
$209,380
$209.4K
Cap Rate 7%
$149,557
$149.6K
Cap Rate 9%
$116,322
$116.3K
Market Conditions
NOI Build-Up for 990 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
$17.8K $18.00/SF
− Vacancy
−$1.1K −$1.08/SF
EGI
$16.8K $16.92/SF
− OpEx
−$6.3K −$6.34/SF
NOI
$10.5K $10.58/SF
Area
Akron, OH
Vacancy
6.00%
Lease Rate
$18.00 /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%
$209,380
Cap Rate 7%
$149,557
Cap Rate 9%
$116,322
Alternative Uses
Best Use
Mixed Use
$149.6K
$130.9K – $174.5K
NOI $10,469 @ 7.0% cap · market cap 5.37%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$243.0K
$212.6K – $283.5K
NOI $17,007 @ 7.0% cap · market cap 8.73%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
276
Businesses Nearby
Explore this area
Business Placement
Demographics for 44301, OH
14,364
Population
6,859
Households
2.1
Avg Household Size
37
Median Age
20%
College-Educated
89%
High-School Grad
3.6 sq mi
ZIP Area
3,990
Density / Sq Mi
$52,134
Median Household Income
$34,553
Median Earnings
$990
Median Rent
$103,400
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Mixed-use property suitable for office, retail, or medical use.
Where is this mixed-use property located?
The property is located at 1903 Brown St Akron, OH.
What is the asking price?
The asking price for this property is $194,900.
What are key features of this property?
This property features: Mixed‑use space ideal for office, retail, medical, or professional use; Private paved parking lot for customers and employees; Excellent location on the corner of Brown St & Waterloo Rd, ¼ mile from Route 8, between Cleveland & Canton
