Copley Commercial Property for
For Sale
$365,000
278 South Cleveland Massillon Road, Akron, OH 44333
1,706 SF property on 1.36 acres in Copley, Ohio.
Property Size1,706 SF
Lot Size1.36 Acres
Price / SF$213.95
Days on Market852
Property Features for 278 South Cleveland Massillon Road
General Information
Standard status
Active
Size
1,706 SF
Lot size
1.36 Acres
Property subtype
Office
Zoning
C-2
Building Details
Building Size
1,706 SF
Listing Agency:
Hoff & Leigh Fairlawn
(330) 573-5933
Listed By:
Jennifer Fernandez, CCIM, SIOR · License #SAL.0000430116
(330) 573-5933
Source:
Hoffleigh
Added: May 1, 2024
Changed: Aug 23
Last Checked: Aug 30 at 12:50PM
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 Fairlawn
Investment Insights
Based on property information with market context.
This 1,706 square foot property, currently leased by an adult daycare, is situated on 1.36 acres of land. The converted home features three large activity rooms, three smaller rooms, and three restrooms, along with a basement level and a large detached garage. The property is located just south of West Market Street on South Cleveland Massillon Road in Copley, Ohio. A monument sign fronts Cleveland Massillon Road. The property is suited for adult daycare and professional office uses with a retail component.
Key Highlights
- 1.36 acres of land
- 1,706 SF converted home with flexible layout featuring 3 large activity rooms and 3 smaller rooms
- Located in Copley, just south of W. Market Street on S. Cleveland Massillon Road
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
$20,177
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
5.53%
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%
$403,540
$403.5K
Cap Rate 7%
$288,243
$288.2K
Cap Rate 9%
$224,189
$224.2K
Market Conditions
NOI Build-Up for 1,706 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
$28.9K $16.92/SF
− Vacancy
−$2.0K −$1.15/SF
EGI
$26.9K $15.77/SF
− OpEx
−$6.7K −$3.94/SF
NOI
$20.2K $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%
$403,540
Cap Rate 7%
$288,243
Cap Rate 9%
$224,189
Alternative Uses
Best Use
Office B
$288.2K
$252.2K – $336.3K
NOI $20,177 @ 7.0% cap · market cap 5.53%
Second Best
Retail
$275.2K
$240.8K – $321.0K
NOI $19,262 @ 7.0% cap · market cap 5.28%
Theoretical Best
Office A
$418.7K
$366.3K – $488.5K
NOI $29,307 @ 7.0% cap · market cap 8.03%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
785
Businesses Nearby
Balanced
Demand for This Use
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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Similar Off Market Nearby
- Almost Mom Child Development Care Center — 258 S Cleveland Massillon Rd, Fairlawn, OH 44333
- Akron Montessori School — 3882 Bywood Ave, Fairlawn, OH 44333
- Kids At Heart Preschool & Child Care Center — 186 S Cleveland Massillon Rd, Akron, OH 44333
- Fairlawn Village Preschool — 3300 Morewood Rd, Akron, OH 44333
Frequently Asked Questions
What type of property is this?
Day care center - 1,706 SF property on 1.36 acres in Copley, Ohio.
Where is this day care center located?
The property is located at 278 South Cleveland Massillon Road Akron, OH.
What is the asking price?
The asking price for this property is $365,000.
What are key features of this property?
This property features: 1.36 acres of land; 1,706 SF converted home with flexible layout featuring 3 large activity rooms and 3 smaller rooms; Located in Copley, just south of W. Market Street on S. Cleveland Massillon Road
