Retail Shopping
For Sale
$2,395,000
Pending
2651 W Market Street, Fairlawn, OH 44333
For sale retail shopping center located at 2651 W Market Street in Fairlawn, Ohio.
Property Size14,596 SF
Days on Market65
Property Features for 2651 W Market Street
General Information
Standard status
Pending
Size
14,596 SF
Zoning
Commercial
Net Operating Income
$203,317
Taxes and HOA fees
Annual Taxes
$22,470
Amenities
ReceptionArea
Central Air
Natural Gas, Forced Air
Full, Finished, Concrete
Partial
Parking Lot
Building Details
Building Size
14,596 SF
Year Built
1984
Buildings
1
Stories
2
Listing Agency:
Century 21 Homestar
Listed By:
Anthony D Takacs · License #2014004742
(440) 567-8047
Source:
Evrealestate
Added: Jul 5
Changed: Sep 4
Last Checked: Sep 7 at 4:49AM
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 Century 21 Homestar
Investment Insights
Based on property information with market context.
This property is a retail shopping center offered for sale. It is listed as retail properties and spaces within the commercial real estate category.
The property is located at 2651 W Market Street in Fairlawn, Ohio, within Summit County. Public directions note: exit Ghent Rd and take a left on W Market St.
For buyers and tenants reviewing the site, the available information primarily supports the asset type and address-based access. Additional details on building layout, unit configuration, or tenant occupancy were not provided in the source materials.
The property is located at 2651 W Market Street in Fairlawn, Ohio, within Summit County. Public directions note: exit Ghent Rd and take a left on W Market St.
For buyers and tenants reviewing the site, the available information primarily supports the asset type and address-based access. Additional details on building layout, unit configuration, or tenant occupancy were not provided in the source materials.
Key Highlights
- Retail shopping center for sale at 2651 W Market Street in Fairlawn, OH (Summit County)
- Year built: 1984
- Central air conditioning and natural gas forced‑air heating
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
$92,477
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
3.86%
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%
$1,849,540
$1.8M
Cap Rate 7%
$1,321,100
$1.3M
Cap Rate 9%
$1,027,522
$1.0M
Market Conditions
NOI Build-Up for 14,596 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
$136.6K $9.36/SF
− Vacancy
−$4.5K −$0.31/SF
EGI
$132.1K $9.05/SF
− OpEx
−$39.6K −$2.72/SF
NOI
$92.5K $6.34/SF
Area
Summit County, OH
Vacancy
3.30%
Lease Rate
$9.36 /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%
$1,849,540
Cap Rate 7%
$1,321,100
Cap Rate 9%
$1,027,522
Alternative Uses
Best Use
Retail
$1.32M
$1.16M – $1.54M
NOI $92,477 @ 7.0% cap · market cap 3.86%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.58M
$3.13M – $4.18M
NOI $250,739 @ 7.0% cap · market cap 10.47%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,004
Businesses Nearby
199k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Superstores 38%
Groceries 27%
Shops & Services 16%
Home Improvements & Furnishings 13%
Target
Superstores
76,116 visits/mo
0.3 miles
Giant Eagle Supermarket
Groceries
34,638 visits/mo
0.2 miles
HomeGoods
Home Improvements & Furnishings
22,556 visits/mo
0.1 miles
Marc's
Groceries
19,639 visits/mo
0.1 miles
Huntington Bank
Shops & Services
7,732 visits/mo
0.1 miles
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 Retail in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Shopping center - For sale retail shopping center located at 2651 W Market Street in Fairlawn, Ohio.
Where is this shopping center located?
The property is located at 2651 W Market Street Fairlawn, OH.
What is the asking price?
The asking price for this property is $2,395,000.
What are key features of this property?
This property features: Retail shopping center for sale at 2651 W Market Street in Fairlawn, OH (Summit County); Year built: 1984; Central air conditioning and natural gas forced‑air heating
