Mixed-Use Building with
New
For Sale
$1,225,000
329 E Garfield Road, Aurora, OH 44202
The two-level property combines a leased restaurant with upper-floor office and recording studio space.
Property Size5,308 SF
Price / SF$204.17
Days on Market6
Property Features for 329 E Garfield Road
General Information
Standard status
Active
Size
5,308 SF
Property subtype
Business
Zoning
C1
Site & Location
Highway Access
Yes
Road Access
Yes
Utilities to Site
Yes
Taxes and HOA fees
Annual Taxes
$12,219
Building Details
Building Size
5,308 SF
Year Built
1909
Year Renovated
2009
Buildings
1
Stories
2
Owner Occupied
No
Listing Agency:
RE/MAX Crossroads Properties
Listed By:
Brant Jessel · License #436272
(330) 389-0636
Source:
Asacoxhomes
Added: Oct 14
Changed: Oct 16
Last Checked: Oct 16 at 2:26PM
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 RE/MAX Crossroads Properties
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Investment Insights
Based on property information with market context.
This 6,000-square-foot mixed-use building has 3,000 square feet on each of its two levels. The first floor is occupied by a restaurant under a lease described as being in its fifth year. The upper floor contains office space and a recording studio. The building dates to 1909 and was updated in 2009; its elastomeric roof is described as approximately two years old.
The property is on State Route 82 on the east side of Aurora, Ohio, and is zoned C1. A Snap Fitness facility is on the adjoining property, while niche boutiques are located across the street. Parking is available on site.
The property is on State Route 82 on the east side of Aurora, Ohio, and is zoned C1. A Snap Fitness facility is on the adjoining property, while niche boutiques are located across the street. Parking is available on site.
Key Highlights
- 6,000‑square‑foot building with 3,000 square feet on each level
- First‑floor restaurant leased in year 5
- Upper floor includes office space and a recording studio
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$78,327
Cap Rate
6.39%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,566,540
$1.6M
Cap Rate 7%
$1,118,957
$1.1M
Cap Rate 9%
$870,300
$870.3K
Market Conditions
NOI Build-Up for 6,000 SF
Gross rent
$108.0K $18.00/SF
− Vacancy
−$3.6K −$0.59/SF
EGI
$104.4K $17.41/SF
− OpEx
−$26.1K −$4.35/SF
NOI
$78.3K $13.05/SF
Area
Portage County, OH
Vacancy
3.30%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,566,540
Cap Rate 7%
$1,118,957
Cap Rate 9%
$870,300
Alternative Uses
Best Use
Specialty Retail
$1.12M
$979.1K – $1.31M
NOI $78,327 @ 7.0% cap · market cap 6.39%
Second Best
Office B
$1.05M
$919.5K – $1.23M
NOI $73,558 @ 7.0% cap · market cap 6.00%
Theoretical Best
Office A
$1.21M
$1.06M – $1.41M
NOI $84,599 @ 7.0% cap · market cap 6.91%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
219
Businesses Nearby
Explore this area
Business Placement
Demographics for 44202, OH
22,167
Population
9,612
Households
2.3
Avg Household Size
46
Median Age
56%
College-Educated
97%
High-School Grad
30.3 sq mi
ZIP Area
732
Density / Sq Mi
$116,556
Median Household Income
$67,796
Median Earnings
$1,701
Median Rent
$356,000
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Midwest region
Frequently Asked Questions
What type of property is this?
Mixed-use property - The two-level property combines a leased restaurant with upper-floor office and recording studio space.
Where is this mixed-use property located?
The property is located at 329 E Garfield Road Aurora, OH.
What is the asking price?
The asking price for this property is $1,225,000.
What are key features of this property?
This property features: 6,000‑square‑foot building with 3,000 square feet on each level; First‑floor restaurant leased in year 5; Upper floor includes office space and a recording studio
