Freestanding Flex Space with
For Sale
Under Contract
$260,000
215 Munroe Falls Avenue, Cuyahoga Falls, OH 44221
COMMERCIAL - Cuyahoga Falls, OH
Property Size2,440 SF
Lot Size0.35 Acres
Price / SF$106.56
Days on Market32
Property Features for 215 Munroe Falls Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
Commercial
Parking features
Open, Assigned, Paved or Surfaced
Elementary school district
Cuyahoga Falls CSD - 7705
Middle school district
Cuyahoga Falls CSD - 7705
High school district
Cuyahoga Falls CSD - 7705
Directions
E. Portage Trail (east of Rt 8) to Munroe Falls Ave.
Standard status
Active Under Contract
APN
0213316
Lot size
0.35 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
TR 2 W OF LOTS 1 & 2 S1/2 3 BLK TT LOTS 1 2 & S 1/2 3 & PT VAC ST
Tax Annual Amount
3790
Legal Description
TR 2 W OF LOTS 1 & 2 S1/2 3 BLK TT LOTS 1 2 & S 1/2 3 & PT VAC ST
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas, Forced Air
Cooling system
Central Air
Water source
Public
Building Details
Year built
1956
Floors in Building
1
Roof type
Metal
Listing Agency:
Berkshire Hathaway HomeServices Stouffer Realty
(330) 835-4900
Listed By:
Ashley Beal · License #2021006733
(330) 416-0042
Added: Jul 19
Changed: Aug 18
Last Checked: Aug 19 at 11:06AM
MLS# 5227097
Copyright © 2026 MLS Now. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This freestanding 2,440-square-foot flex space was built in 1956 and includes multiple offices, two restrooms, and entrances at both the front and rear. A metal roof, central air, forced-air heating, and natural gas service support the building’s existing configuration. The property also includes on-site paved parking and a partially fenced gravel area for parking or storage.
Located near downtown Cuyahoga Falls with access to State Route 8, the 0.3471-acre site is zoned E-1 Employment District. Public water and public sewer serve the property, while the layout supports the permitted contractor, storage, professional-service, and office uses identified for the site.
Located near downtown Cuyahoga Falls with access to State Route 8, the 0.3471-acre site is zoned E-1 Employment District. Public water and public sewer serve the property, while the layout supports the permitted contractor, storage, professional-service, and office uses identified for the site.
Key Highlights
- 2,440‑square‑foot freestanding flex space built in 1956
- Zoned E‑1 Employment District
- Multiple offices and two restrooms
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
$9,671
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
3.72%
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%
$193,420
$193.4K
Cap Rate 7%
$138,157
$138.2K
Cap Rate 9%
$107,456
$107.5K
Market Conditions
NOI Build-Up for 2,440 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
$14.3K $5.88/SF
− Vacancy
−$531 −$0.22/SF
EGI
$13.8K $5.66/SF
− OpEx
−$4.1K −$1.70/SF
NOI
$9.7K $3.96/SF
Area
Summit County, OH
Vacancy
3.70%
Lease Rate
$5.88 /SF/Yr
Expense Ratio
30.00%
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%
$193,420
Cap Rate 7%
$138,157
Cap Rate 9%
$107,456
Alternative Uses
Best Use
Office B
$412.3K
$360.7K – $481.0K
NOI $28,858 @ 7.0% cap · market cap 11.10%
Second Best
Industrial
$138.2K
$120.9K – $161.2K
NOI $9,671 @ 7.0% cap · market cap 3.72%
Theoretical Best
Office A
$598.8K
$524.0K – $698.6K
NOI $41,916 @ 7.0% cap · market cap 16.12%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Fenced yard
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
115
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 44221, OH
29,601
Population
14,379
Households
2.1
Avg Household Size
39
Median Age
31%
College-Educated
93%
High-School Grad
6.4 sq mi
ZIP Area
4,625
Density / Sq Mi
$61,893
Median Household Income
$40,060
Median Earnings
$1,026
Median Rent
$160,400
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Flex space - E-1 Employment District property with offices, two restrooms, and front and rear access.
Where is this flex space located?
The property is located at 215 Munroe Falls Avenue Cuyahoga Falls, OH.
What is the asking price?
The asking price for this property is $260,000.
What are key features of this property?
This property features: 2,440‑square‑foot freestanding flex space built in 1956; Zoned E‑1 Employment District; Multiple offices and two restrooms
