Carmel Professional Office
For Sale
$1,500,000
4501 Hills And Dales Road NW, Canton, OH 44718
Business-zoned property with an established tenant base and predominantly office-oriented occupancy.
Property Size15,820 SF
Days on Market137
Property Features for 4501 Hills And Dales Road NW
General Information
Standard status
Active
Size
15,820 SF
Property subtype
Commercial
Zoning
Business
Taxes and HOA fees
Annual Taxes
$16,547
Building Details
Building Size
15,820 SF
Year Built
1961
Tenancy
Multi
Listing Agency:
Hayes Realty
(330) 323-1754
Listed By:
Christian S Nye · License #2017004186
(330) 323-1754
Source:
Carolgoffrealestate
Added: Apr 15
Changed: Aug 28
Last Checked: Aug 28 at 8:56AM
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 Hayes Realty
Investment Insights
Based on property information with market context.
The Carmel Professional Building is an office-focused commercial property with a mixed-use tenant profile. Office users represent the majority of occupancy, while the property also includes other business uses. The building dates to 1961 and is located on Hills And Dales Road NW in Canton, Ohio.
The property is positioned in the Jackson Township and Belden Village area and is offered for sale. Its Business zoning and existing tenant mix provide a straightforward profile for office-oriented ownership.
The property is positioned in the Jackson Township and Belden Village area and is offered for sale. Its Business zoning and existing tenant mix provide a straightforward profile for office-oriented ownership.
Key Highlights
- Office buildings classification with a predominantly office tenant mix
- Mixed‑use occupancy includes office and other business users
- Business zoning supports the property’s commercial office profile
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
$52,958
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
3.53%
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%
$1,059,160
$1.1M
Cap Rate 7%
$756,543
$756.5K
Cap Rate 9%
$588,422
$588.4K
Market Conditions
NOI Build-Up for 15,820 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
$92.7K $5.86/SF
− Vacancy
−$8.0K −$0.50/SF
EGI
$84.7K $5.36/SF
− OpEx
−$31.8K −$2.01/SF
NOI
$53.0K $3.35/SF
Area
Stark County, OH
Vacancy
8.60%
Lease Rate
$5.86 /SF/Yr
Expense Ratio
37.50%
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%
$1,059,160
Cap Rate 7%
$756,543
Cap Rate 9%
$588,422
Alternative Uses
Best Use
Office B
$2.73M
$2.39M – $3.19M
NOI $191,145 @ 7.0% cap · market cap 12.74%
Second Best
Mixed Use
$756.5K
$662.0K – $882.6K
NOI $52,958 @ 7.0% cap · market cap 3.53%
Theoretical Best
Retail
$4.13M
$3.61M – $4.82M
NOI $289,131 @ 7.0% cap · market cap 19.28%
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
866
Businesses Nearby
Explore this area
Business Placement
Demographics for 44718, OH
12,607
Population
6,134
Households
2.1
Avg Household Size
47
Median Age
43%
College-Educated
99%
High-School Grad
8.4 sq mi
ZIP Area
1,501
Density / Sq Mi
$86,171
Median Household Income
$50,613
Median Earnings
$871
Median Rent
$285,500
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office building - Business-zoned property with an established tenant base and predominantly office-oriented occupancy.
Where is this office building located?
The property is located at 4501 Hills And Dales Road NW Canton, OH.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: Office buildings classification with a predominantly office tenant mix; Mixed‑use occupancy includes office and other business users; Business zoning supports the property’s commercial office profile
