Corner Retail/Office
For Sale
Contact for pricing
201 North Cleveland Massillon Road, Akron, OH 44333
Corner-lot retail and office building with ODOT traffic exposure and ample behind-building parking for customers and staff.
Property Size1,652 SF
Lot Size1.00 Acre
Price / SF$302.60
Days on Market55
Property Features for 201 North Cleveland Massillon Road
General Information
Standard status
Active
Size
1,652 SF
Lot size
1.00 Acre
Property subtype
Retail, Office
Zoning
B4
Building Details
Year Built
1940
Listing Agency:
Keller Williams Legacy Group Realty
(330) 605-4302
Listed By:
Megan Eckstein · License #OH2023001083
Source:
Crexi
Added: Jun 16
Changed: Aug 8
Last Checked: Aug 8 at 2:14PM
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 corner-lot commercial property at 201 N Cleveland Massillon Road offers a flexible retail and office layout in an approximately 1,652-square-foot building. The current zoning supports a range of concepts, including professional office use, boutique retail, service-based businesses, and medical or wellness-related operations. The site also includes an ample parking area located behind the building, balancing convenient access with strong curb presence from the road.
The property’s corner positioning is designed to capture attention from passing traffic, with strong daily traffic counts reported by ODOT along a well-traveled corridor. As a result, signage and branding can remain highly visible throughout the day. Additional site context includes easy access to surrounding retail, dining, and major roadways within the Akron area, including the Montrose/Fairlawn corridor.
For tenants, owner-occupants, or investors seeking a straightforward footprint, the existing building provides an immediate place to operate while the zoning supports multiple categories of retail and office use. The combination of road exposure, on-site parking, and retail/office zoning makes the property a practical option for businesses looking for a visible location with functional site access today.
The property’s corner positioning is designed to capture attention from passing traffic, with strong daily traffic counts reported by ODOT along a well-traveled corridor. As a result, signage and branding can remain highly visible throughout the day. Additional site context includes easy access to surrounding retail, dining, and major roadways within the Akron area, including the Montrose/Fairlawn corridor.
For tenants, owner-occupants, or investors seeking a straightforward footprint, the existing building provides an immediate place to operate while the zoning supports multiple categories of retail and office use. The combination of road exposure, on-site parking, and retail/office zoning makes the property a practical option for businesses looking for a visible location with functional site access today.
Key Highlights
- Corner‑lot commercial property at 201 N Cleveland Massillon Road in Akron on approximately 1 acre
- Highly visible along a well‑traveled corridor with strong daily traffic counts reported by ODOT
- Zoned for retail and office use, offering flexibility for a variety of business types
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
$19,538
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
3.91%
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%
$390,760
$390.8K
Cap Rate 7%
$279,114
$279.1K
Cap Rate 9%
$217,089
$217.1K
Market Conditions
NOI Build-Up for 1,652 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
$28.0K $16.92/SF
− Vacancy
−$1.9K −$1.15/SF
EGI
$26.1K $15.77/SF
− OpEx
−$6.5K −$3.94/SF
NOI
$19.5K $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%
$390,760
Cap Rate 7%
$279,114
Cap Rate 9%
$217,089
Alternative Uses
Best Use
Office B
$279.1K
$244.2K – $325.6K
NOI $19,538 @ 7.0% cap · market cap 3.91%
Second Best
Retail
$266.5K
$233.2K – $310.9K
NOI $18,652 @ 7.0% cap · market cap 3.73%
Theoretical Best
Office A
$405.4K
$354.7K – $473.0K
NOI $28,379 @ 7.0% cap · market cap 5.68%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
888
Businesses Nearby
Explore this area
Business Placement
Demographics for 44333, OH
19,449
Population
8,598
Households
2.3
Avg Household Size
49
Median Age
64%
College-Educated
98%
High-School Grad
28.4 sq mi
ZIP Area
685
Density / Sq Mi
$119,313
Median Household Income
$63,920
Median Earnings
$1,232
Median Rent
$362,600
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?
Retail space - Corner-lot retail and office building with ODOT traffic exposure and ample behind-building parking for customers and staff.
Where is this retail space located?
The property is located at 201 North Cleveland Massillon Road Akron, OH.
What is the asking price?
The asking price for this property is $499,900.
What are key features of this property?
This property features: Corner‑lot commercial property at 201 N Cleveland Massillon Road in Akron on approximately 1 acre; Highly visible along a well‑traveled corridor with strong daily traffic counts reported by ODOT; Zoned for retail and office use, offering flexibility for a variety of business types
