Duplex with Workshop
For Sale
$199,900
427 S Union Ave, Alliance, OH 44601
Two-unit property with adaptable living areas, original wood details, and substantial garage-workshop space subject to commercial-use variance.
Property Size2,436 SF
Price / SF$82.06
Days on Market84
Property Features for 427 S Union Ave
General Information
Standard status
Active
Size
2,436 SF
Property subtype
Multi-Family
Building Details
Year Built
1902
Listing Agency:
REMAX Diversity Real Estate Group LLC
Listed By:
Jennifer L Dockery · License #SAL.2017001242
(234) 334-7116
Source:
Theacclaimedrealty
Added: Jul 24
Changed: Oct 7
Last Checked: Oct 13 at 12:22AM
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 REMAX Diversity Real Estate Group LLC
Investment Insights
Based on property information with market context.
This 1902 duplex contains 2,430 square feet of living area arranged across three levels. The first-floor residence features oak flooring, tall ceilings, crown molding, a stone fireplace, and sliding doors, with an interior connection to a 24-by-82-foot garage and workshop. That work area includes partial natural-stone flooring, an office section, and two overhead doors beneath a metal roof installed approximately 5 years ago.
The upper levels provide a second-floor residence with three bedrooms, one full bathroom, and an equipped kitchen, while the renovated third floor adds a fourth bedroom or flexible living, office, or studio area. Access to the second floor is available from both inside and outside. Located at 427 S Union Avenue in Alliance, the property is zoned Multi-Family. Any commercial use requires the buyer to obtain an approved commercial-use variance.
The upper levels provide a second-floor residence with three bedrooms, one full bathroom, and an equipped kitchen, while the renovated third floor adds a fourth bedroom or flexible living, office, or studio area. Access to the second floor is available from both inside and outside. Located at 427 S Union Avenue in Alliance, the property is zoned Multi-Family. Any commercial use requires the buyer to obtain an approved commercial-use variance.
Key Highlights
- Two‑unit duplex with 2,430 sq ft of living area across three levels
- 24x82 garage/workshop with office area, partial nature stone flooring, and two overhead doors
- Metal roof approximately 5 years old
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$17,842
Cap Rate
8.93%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$356,840
$356.8K
Cap Rate 7%
$254,886
$254.9K
Cap Rate 9%
$198,244
$198.2K
Market Conditions
NOI Build-Up for 2,436 SF
Gross rent
$33.6K $13.80/SF
− Vacancy
−$1.2K −$0.48/SF
EGI
$32.4K $13.32/SF
− OpEx
−$14.6K −$5.99/SF
NOI
$17.8K $7.32/SF
Area
Stark County, OH
Vacancy
3.50%
Lease Rate
$13.80 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$356,840
Cap Rate 7%
$254,886
Cap Rate 9%
$198,244
Alternative Uses
Best Use
Office B
$420.5K
$367.9K – $490.6K
NOI $29,433 @ 7.0% cap · market cap 14.72%
Second Best
Multifamily LT 5
$291.1K
$254.7K – $339.6K
NOI $20,377 @ 7.0% cap · market cap 10.19%
Theoretical Best
Retail
$636.0K
$556.5K – $742.0K
NOI $44,521 @ 7.0% cap · market cap 22.27%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
506
Businesses Nearby
Explore this area
Business Placement
Demographics for 44601, OH
33,688
Population
14,532
Households
2.3
Avg Household Size
41
Median Age
17%
College-Educated
90%
High-School Grad
82.0 sq mi
ZIP Area
411
Density / Sq Mi
$61,887
Median Household Income
$33,773
Median Earnings
$803
Median Rent
$142,600
Median Home Value
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Market
Vacancy Rate% for Office in Midwest region
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Frequently Asked Questions
What type of property is this?
Duplex - Two-unit property with adaptable living areas, original wood details, and substantial garage-workshop space subject to commercial-use variance.
Where is this duplex located?
The property is located at 427 S Union Ave Alliance, OH.
What is the asking price?
The asking price for this property is $199,900.
What are key features of this property?
This property features: Two‑unit duplex with 2,430 sq ft of living area across three levels; 24x82 garage/workshop with office area, partial nature stone flooring, and two overhead doors; Metal roof approximately 5 years old
