Renovated Two-Story Mixed-Use
New
For Sale
$1,250,000
2850 W Market Street, Fairlawn, OH 44333
SINGLE_FAMILY - Fairlawn, OH
Property Size5,778 SF
Lot Size0.61 Acres
Price / SF$216.34
Days on Market1
Property Features for 2850 W Market Street
General Information
Property type
Residential
Property subtype
Retail
Zoning description
Commercial
Parking features
Parking Lot
Subdivision
W Mkt Sub
Elementary school district
Copley-Fairlawn CSD - 7703
Middle school district
Copley-Fairlawn CSD - 7703
High school district
Copley-Fairlawn CSD - 7703
Directions
West Market St between Miller and Revere Rd.
Standard status
Active
APN
0901254
Lot size
0.61 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
W MKT SUBDN LOTS 19 W PT 20 ALL
Tax Annual Amount
9125
Legal Description
W MKT SUBDN LOTS 19 W PT 20 ALL
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas, Forced Air
Cooling system
Central Air
Water source
Public
Amenities
updated common areas
rooftop HVAC systems
Building Details
Year built
1974
Roof type
Flat
Listing Agency:
Berkshire Hathaway HomeServices Stouffer Realty
(330) 835-4900
Listed By:
Gina Luisi · License #2016005084
(330) 814-4747
Added: Aug 8
Last Checked: Aug 8 at 10:06PM
MLS# 5230608
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 two-story mixed-use property combines retail and office space within approximately 5,778 square feet. The brick building was renovated in 2018 with updated common areas, interior improvements, rooftop HVAC systems, and a flat roof. Natural gas, forced-air heating, central air, public water, and public sewer serve the property. A parking lot provides shared parking for occupants and visitors.
The property is located at 2850 W Market Street in Fairlawn’s commercial district, near established retail, restaurants, medical facilities, and professional offices. Four tenant leases are currently in place, while the operating business is excluded from the sale. The site encompasses 0.6136 acres, and the adjacent building is also offered separately.
The property is located at 2850 W Market Street in Fairlawn’s commercial district, near established retail, restaurants, medical facilities, and professional offices. Four tenant leases are currently in place, while the operating business is excluded from the sale. The site encompasses 0.6136 acres, and the adjacent building is also offered separately.
Key Highlights
- Approximately 5,778 square feet of retail and office space
- Two‑story brick building renovated in 2018
- Four established tenant leases in place
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
Mixed Use
$835.7K
$731.3K – $975.0K
NOI $58,502 @ 7.0% cap · market cap 4.68%
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
Multi-tenant
Tenancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,204
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?
Mixed-use property - Brick commercial property with four established tenant leases and shared parking.
Where is this mixed-use 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 retail and office space; Two‑story brick building renovated in 2018; Four established tenant leases in place
