Renovated Two-Story
New
For Sale
$1,250,000
2850 W Market Street, Fairlawn, OH 44333
Brick commercial property with rooftop HVAC, shared parking, and established leases for four tenants.
Property Size5,778 SF
Price / SF$216.34
Days on Market4
Property Features for 2850 W Market Street
General Information
Standard status
Active
Size
5,778 SF
Property subtype
Retail
Additional Details
Office Units
4
Taxes and HOA fees
Annual Taxes
$9,125
Amenities
updated common areas
rooftop HVAC systems
Building Details
Building Size
5,778 SF
Year Built
1974
Year Renovated
2018
Buildings
1
Stories
2
Construction
brick
Tenancy
Multi
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 4:42AM
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 two-story storefront property contains approximately 5,778 square feet of commercial space and was renovated in 2018. The building features brick construction, updated common areas, modern interior finishes, quality interior improvements, and rooftop HVAC systems. Established leases are in place for four tenants; the operating business is not included in the sale.
Located at 2850 W Market Street in Fairlawn, the property sits among retail businesses, restaurants, medical facilities, and professional offices. Shared parking serves the building, while the surrounding commercial setting supports access to a range of established businesses and services. The adjacent building is also offered for sale under MLS 5230580.
Located at 2850 W Market Street in Fairlawn, the property sits among retail businesses, restaurants, medical facilities, and professional offices. Shared parking serves the building, while the surrounding commercial setting supports access to a range of established businesses and services. The adjacent building is also offered for sale under MLS 5230580.
Key Highlights
- Approximately 5,778 square feet of commercial space
- Two‑story brick storefront property renovated in 2018
- Established leases in place for four tenants
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
$68,337
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
5.47%
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%
$1,366,740
$1.4M
Cap Rate 7%
$976,243
$976.2K
Cap Rate 9%
$759,300
$759.3K
Market Conditions
NOI Build-Up for 5,778 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
$97.8K $16.92/SF
− Vacancy
−$6.6K −$1.15/SF
EGI
$91.1K $15.77/SF
− OpEx
−$22.8K −$3.94/SF
NOI
$68.3K $11.83/SF
Area
Summit County, 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%
$1,366,740
Cap Rate 7%
$976,243
Cap Rate 9%
$759,300
Alternative Uses
Best Use
Office B
$976.2K
$854.2K – $1.14M
NOI $68,337 @ 7.0% cap · market cap 5.47%
Second Best
Retail
$523.0K
$457.6K – $610.1K
NOI $36,608 @ 7.0% cap · market cap 2.93%
Theoretical Best
Office A
$1.42M
$1.24M – $1.65M
NOI $99,258 @ 7.0% cap · market cap 7.94%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Office units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,204
Businesses Nearby
Under-served
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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Frequently Asked Questions
What type of property is this?
Storefront property - Brick commercial property with rooftop HVAC, shared parking, and established leases for four tenants.
Where is this storefront property located?
The property is located at 2850 W Market Street Fairlawn, OH.
What is the asking price?
The asking price for this property is $1,250,000.
What are key features of this property?
This property features: Approximately 5,778 square feet of commercial space; Two‑story brick storefront property renovated in 2018; Established leases in place for four tenants
