Renovated Retail Portfolio with
New
For Sale
$2,650,000
2840 & 2850 W Market Street, Fairlawn, OH 44333
Two adjacent buildings offer a renovated restaurant, patio, and multi-tenant retail and office configuration.
Property Size9,408 SF
Lot Size1.08 Acres
Days on Market4
Property Features for 2840 & 2850 W Market Street
General Information
Standard status
Active
Size
9,408 SF
Lot size
1.08 Acres
Property subtype
Retail
Additional Details
Drive-Thru
Yes
Taxes and HOA fees
Annual Taxes
$18,517
Amenities
outdoor patio
rooftop HVAC systems
Building Details
Building Size
9,408 SF
Year Built
1974
Year Renovated
2018
Buildings
2
Listing Agency:
Berkshire Hathaway HomeServices Stouffer Realty
(330) 814-4747
Listed By:
Gina Luisi · License #2016005084
(330) 814-4747
Source:
Asacoxhomes
Added: Aug 8
Changed: Aug 11
Last Checked: Aug 11 at 6:01AM
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 Stouffer Realty
Investment Insights
Based on property information with market context.
This offering includes two adjacent commercial buildings on approximately 1.08 acres along West Market Street. The property combines a freestanding cafe/restaurant with drive-through service and an outdoor patio, plus a renovated two-story building containing multi-tenant retail and office space totaling more than 9,400 square feet. Both buildings received significant renovations in 2018, including updated exterior finishes, modernized interiors, and rooftop HVAC systems.
Shared access and abundant parking serve the two-building layout. The property is near Summit Mall and surrounded by national retailers, restaurants, medical offices, and hospitality uses. Established leases are in place, while the operating businesses are excluded from the sale. The buildings may also be sold separately.
Shared access and abundant parking serve the two-building layout. The property is near Summit Mall and surrounded by national retailers, restaurants, medical offices, and hospitality uses. Established leases are in place, while the operating businesses are excluded from the sale. The buildings may also be sold separately.
Key Highlights
- Two adjacent commercial buildings on approximately 1.08 acres
- Freestanding cafe/restaurant includes drive‑through service and outdoor patio
- Renovated two‑story multi‑tenant retail/office building totals more than 9,400 square feet
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
$113,810
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
4.29%
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%
$2,276,200
$2.3M
Cap Rate 7%
$1,625,857
$1.6M
Cap Rate 9%
$1,264,556
$1.3M
Market Conditions
NOI Build-Up for 9,408 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
$156.9K $16.68/SF
− Vacancy
−$5.2K −$0.55/SF
EGI
$151.7K $16.13/SF
− OpEx
−$37.9K −$4.03/SF
NOI
$113.8K $12.10/SF
Area
Summit County, OH
Vacancy
3.30%
Lease Rate
$16.68 /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%
$2,276,200
Cap Rate 7%
$1,625,857
Cap Rate 9%
$1,264,556
Alternative Uses
Best Use
Specialty Retail
$1.63M
$1.42M – $1.90M
NOI $113,810 @ 7.0% cap · market cap 4.29%
Second Best
Office B
$1.59M
$1.39M – $1.85M
NOI $111,269 @ 7.0% cap · market cap 4.20%
Theoretical Best
Office A
$2.31M
$2.02M – $2.69M
NOI $161,616 @ 7.0% cap · market cap 6.10%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,596
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 - Two adjacent buildings offer a renovated restaurant, patio, and multi-tenant retail and office configuration.
Where is this retail space located?
The property is located at 2840 & 2850 W Market Street Fairlawn, OH.
What is the asking price?
The asking price for this property is $2,650,000.
What are key features of this property?
This property features: Two adjacent commercial buildings on approximately 1.08 acres; Freestanding cafe/restaurant includes drive‑through service and outdoor patio; Renovated two‑story multi‑tenant retail/office building totals more than 9,400 square feet
