Office/Warehouse Flex
For Sale
Contact for pricing
3747 Fishcreek Rd, Stow, OH 44224
Two office and flex buildings on 4.55 acres provide single-tenant and multitenant space with recently replaced roofs.
Property Size21,738 SF
Lot Size4.55 Acres
Price / SF$75.90
Days on Market1438
Property Features for 3747 Fishcreek Rd
General Information
Standard status
Active
Size
21,738 SF
Class
B
Lot size
4.55 Acres
Property subtype
Office
Zoning
C-6 Office & I1 - Limited Industrial
Occupancy
39%
Lease Type
NN
Investment Type
Net Lease
Additional Details
Cap Rate
7.06%
Building Details
Year Built
1989
Buildings
2
Tenancy
Multi
Listing Agency:
SVN Summit Commercial Real Estate Advisors
Listed By:
Graydon Fox · License #SAL2019006700
(234) 231-0229
Source:
Crexi
Added: Sep 29, 2022
Changed: Sep 2
Last Checked: Sep 2 at 12:17AM
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 SVN Summit Commercial Real Estate Advisors
Investment Insights
Based on property information with market context.
The property includes a 9,540 SF single-tenant corporate office and a 12,198 SF multitenant office/warehouse flex building. The buildings total 21,738 SF and sit on 4.55 acres. The property is reported to be in good condition, with no outstanding improvements indicated, and both roofs were replaced in 2012.
The site is located in Stow, Ohio at the corner of Fishcreek Road and Greenlawn Drive, with proximity to State Routes 59 and 91.
This offering is presented as an investment opportunity, with a stated capitalization rate of 7.06% based on projected 2023 net operating income, excluding management fees and replacement reserves. An offering memorandum is available upon request.
The site is located in Stow, Ohio at the corner of Fishcreek Road and Greenlawn Drive, with proximity to State Routes 59 and 91.
This offering is presented as an investment opportunity, with a stated capitalization rate of 7.06% based on projected 2023 net operating income, excluding management fees and replacement reserves. An offering memorandum is available upon request.
Key Highlights
- 9,540 SF single‑tenant corporate office plus 12,198 SF multitenant office/warehouse flex building
- Buildings sit on 4.55 acres at the corner of Fishcreek Road and Greenlawn Drive in Stow, OH
- Both roofs were replaced in 2012
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
$104,627
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
6.34%
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%
$2,092,540
$2.1M
Cap Rate 7%
$1,494,671
$1.5M
Cap Rate 9%
$1,162,522
$1.2M
Market Conditions
NOI Build-Up for 21,738 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
$127.8K $5.88/SF
− Vacancy
−$4.7K −$0.22/SF
EGI
$123.1K $5.66/SF
− OpEx
−$18.5K −$0.85/SF
NOI
$104.6K $4.81/SF
Area
Summit County, OH
Vacancy
3.70%
Lease Rate
$5.88 /SF/Yr
Expense Ratio
15.00%
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%
$2,092,540
Cap Rate 7%
$1,494,671
Cap Rate 9%
$1,162,522
Alternative Uses
Best Use
Office B
$3.67M
$3.21M – $4.28M
NOI $257,097 @ 7.0% cap · market cap 15.58%
Second Best
Warehouse
$1.49M
$1.31M – $1.74M
NOI $104,627 @ 7.0% cap · market cap 6.34%
Theoretical Best
Office A
$5.33M
$4.67M – $6.22M
NOI $373,429 @ 7.0% cap · market cap 22.63%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
400
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 44224, OH
38,709
Population
16,826
Households
2.3
Avg Household Size
42
Median Age
49%
College-Educated
96%
High-School Grad
20.4 sq mi
ZIP Area
1,898
Density / Sq Mi
$91,096
Median Household Income
$48,624
Median Earnings
$1,190
Median Rent
$243,500
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 - Two office and flex buildings on 4.55 acres provide single-tenant and multitenant space with recently replaced roofs.
Where is this flex space located?
The property is located at 3747 Fishcreek Rd Stow, OH.
What is the asking price?
The asking price for this property is $1,650,000.
What are key features of this property?
This property features: 9,540 SF single‑tenant corporate office plus 12,198 SF multitenant office/warehouse flex building; Buildings sit on 4.55 acres at the corner of Fishcreek Road and Greenlawn Drive in Stow, OH; Both roofs were replaced in 2012
