Fast Food NNN
For Sale
Contact for pricing
480 West Market Street, Akron, OH 44302
Well-maintained fast food property with an active Mr. Hero tenant under a remaining NN lease term.
Property Size1,584 SF
Price / SF$132.58
Days on Market53
Property Features for 480 West Market Street
General Information
Standard status
Active
Size
1,584 SF
Total Parking Spaces
7
Property subtype
Retail
Zoning
U-3
Building Details
Year Built
1978
Buildings
1
Stories
1
Tenancy
Single
Listing Agency:
NAI Pleasant Valley
(330) 794-7986
Listed By:
Jim Pickard · License #OH 2008002105
Source:
Crexi
Added: Jul 9
Changed: Aug 15
Last Checked: Aug 26 at 12:46AM
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 NAI Pleasant Valley
Investment Insights
Based on property information with market context.
This fast food NNN restaurant is currently occupied by Mr. Hero. The property is described as well maintained and is governed by an NN lease with four years remaining, along with a five-year renewal option through 2027.
The asset is located near the Highland Square area of Akron, Ohio, at 480 West Market Street.
With a current tenant in place and a defined lease structure that includes renewal option timing through 2027, the property offers an established operating footprint for qualified buyers.
The asset is located near the Highland Square area of Akron, Ohio, at 480 West Market Street.
With a current tenant in place and a defined lease structure that includes renewal option timing through 2027, the property offers an established operating footprint for qualified buyers.
Key Highlights
- Fast food property built in 1978
- Current tenant: Mr. Hero fast food
- NN lease with four years remaining and a 5‑year renewal option
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
$19,162
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
9.12%
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%
$383,240
$383.2K
Cap Rate 7%
$273,743
$273.7K
Cap Rate 9%
$212,911
$212.9K
Market Conditions
NOI Build-Up for 1,584 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
$26.4K $16.68/SF
− Vacancy
−$872 −$0.55/SF
EGI
$25.5K $16.13/SF
− OpEx
−$6.4K −$4.03/SF
NOI
$19.2K $12.10/SF
Area
Akron, OH
Vacancy
3.30%
Lease Rate
$16.68 /SF/Yr
Expense Ratio
25.00%
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%
$383,240
Cap Rate 7%
$273,743
Cap Rate 9%
$212,911
Alternative Uses
Best Use
Specialty Retail
$273.7K
$239.5K – $319.4K
NOI $19,162 @ 7.0% cap · market cap 9.12%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$388.7K
$340.1K – $453.5K
NOI $27,211 @ 7.0% cap · market cap 12.96%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
2,458
Businesses Nearby
92k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 68%
Shops & Services 32%
McDonald's
Dining
16,366 visits/mo
0.2 miles
Wendy's
Dining
14,323 visits/mo
0.4 miles
Speedway
Shops & Services
13,452 visits/mo
0.3 miles
Burger King
Dining
8,911 visits/mo
0.4 miles
Circle K
Shops & Services
8,473 visits/mo
0.4 miles
Demographics for 44302, OH
4,661
Population
3,011
Households
1.5
Avg Household Size
39
Median Age
27%
College-Educated
92%
High-School Grad
0.9 sq mi
ZIP Area
5,179
Density / Sq Mi
$45,323
Median Household Income
$37,989
Median Earnings
$758
Median Rent
$112,200
Median Home Value
Market
Vacancy Rate% for Retail in Akron, OH
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Conventional restaurant - Well-maintained fast food property with an active Mr. Hero tenant under a remaining NN lease term.
Where is this conventional restaurant located?
The property is located at 480 West Market Street Akron, OH.
What is the asking price?
The asking price for this property is $210,000.
What are key features of this property?
This property features: Fast food property built in 1978; Current tenant: Mr. Hero fast food; NN lease with four years remaining and a 5‑year renewal option
