Renovated Flex Space with
For Sale
Contact for pricing
330 West High Street, Orrville, OH 44667
Flexible retail and office property includes rear warehouse storage and a drive-through unit.
Property Size16,758 SF
Price / SF$47.44
Days on Market313
Property Features for 330 West High Street
General Information
Standard status
Active
Size
16,758 SF
Total Parking Spaces
40
Property subtype
RETAIL
Additional Details
Drive-Thru
Yes
Building Details
Year Built
1966
Year Renovated
2002
Buildings
1
Building Size
16,758 SF
Tenancy
Multi
Listing Agency:
Gerspacher Real Estate Group
(216) 470-4545
Listed By:
Troy Gerspacher, CCIM, SIOR
(216) 470-4545
Source:
Moodyscre
Added: Oct 22, 2025
Changed: Aug 29
Last Checked: Aug 29 at 1:16PM
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 Gerspacher Real Estate Group
Investment Insights
Based on property information with market context.
This 16,758-square-foot flex property combines retail and office space with warehouse storage at the rear. The building is divided into six units, with available suites ranging from 1,290 to 5,973 square feet and the ability to join units for larger layouts. One unit includes a drive-through, while three 10 x 10 overhead doors support warehouse functionality. Improvements include a roof and AC units completed in 2022; the building was originally constructed in 1966 and renovated in 2002.
Located at 330 West High Street in Orrville, Ohio, the property offers approximately 40 on-site parking spaces. Three units are leased to 211's Legacy Tanning, Trent Insurance Group, and Polish2Perfection, providing an existing mix of retail and office occupancy.
Located at 330 West High Street in Orrville, Ohio, the property offers approximately 40 on-site parking spaces. Three units are leased to 211's Legacy Tanning, Trent Insurance Group, and Polish2Perfection, providing an existing mix of retail and office occupancy.
Key Highlights
- 16,758 SF across six flexible units
- Available spaces range from 1,290 SF to 5,973 SF, with units that can be combined
- Three 10 x 10 overhead doors serve the rear warehouse area
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
$68,862
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
8.66%
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%
$1,377,240
$1.4M
Cap Rate 7%
$983,743
$983.7K
Cap Rate 9%
$765,133
$765.1K
Market Conditions
NOI Build-Up for 16,758 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
$107.4K $6.41/SF
− Vacancy
−$9.0K −$0.54/SF
EGI
$98.4K $5.87/SF
− OpEx
−$29.5K −$1.76/SF
NOI
$68.9K $4.11/SF
Area
Wayne County, OH
Vacancy
8.42%
Lease Rate
$6.41 /SF/Yr
Expense Ratio
30.00%
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%
$1,377,240
Cap Rate 7%
$983,743
Cap Rate 9%
$765,133
Alternative Uses
Best Use
Retail
$2.41M
$2.11M – $2.81M
NOI $168,569 @ 7.0% cap · market cap 21.20%
Second Best
Office B
$2.37M
$2.07M – $2.77M
NOI $165,904 @ 7.0% cap · market cap 20.87%
Theoretical Best
Multifamily LT 5
$12.25M
$10.72M – $14.29M
NOI $857,364 @ 7.0% cap · market cap 107.84%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
371
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 44667, OH
13,723
Population
5,381
Households
2.6
Avg Household Size
39
Median Age
25%
College-Educated
88%
High-School Grad
44.7 sq mi
ZIP Area
307
Density / Sq Mi
$72,402
Median Household Income
$41,792
Median Earnings
$852
Median Rent
$196,300
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?
Flex space - Flexible retail and office property includes rear warehouse storage and a drive-through unit.
Where is this flex space located?
The property is located at 330 West High Street Orrville, OH.
What is the asking price?
The asking price for this property is $795,000.
What are key features of this property?
This property features: 16,758 SF across six flexible units; Available spaces range from 1,290 SF to 5,973 SF, with units that can be combined; Three 10 x 10 overhead doors serve the rear warehouse area
