Mixed-Use Building with Restaurant
For Sale
$850,000
531 N Main St, North Canton, OH 44720
First-floor storefront and restaurant space sits above two 2-bedroom apartments, with 32 parking spaces and a detached garage.
Property Size5,956 SF
Days on Market94
Property Features for 531 N Main St
General Information
Standard status
Active
Size
5,956 SF
Total Parking Spaces
32
Property subtype
Retail
Additional Details
Multifamily Units
2
Building Details
Building Size
5,956 SF
Year Built
1947
Stories
2
Listing Agency:
NAI Spring
Listed By:
Jared Sanford · License #SAL.2019004940
(330) 354-3466
Source:
Naiglobal
Added: Jul 10
Changed: Oct 3
Last Checked: Oct 9 at 6:19PM
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 Spring
Investment Insights
Based on property information with market context.
This mixed-use property offers 3,528 SF of first-level space with visible storefront frontage plus restaurant space. The second floor includes two 2-bedroom apartments, providing additional income-producing living units. A 400 SF detached garage is also included, along with 32 parking spaces for on-site customer and tenant use.
Located at 531 N Main Street in North Canton, the property is in the heart of the city and is less than one mile south of a new Meijer redevelopment.
Overall, the building is configured to support retail/restaurant activity on the street level while maintaining separate residential units above.
Located at 531 N Main Street in North Canton, the property is in the heart of the city and is less than one mile south of a new Meijer redevelopment.
Overall, the building is configured to support retail/restaurant activity on the street level while maintaining separate residential units above.
Key Highlights
- 1st‑floor storefront and restaurant space totaling 3,528 SF with visible storefront
- Second‑floor layout includes two 2‑bedroom apartments
- 32 on‑site parking spaces
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$49,820
Cap Rate
5.86%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$996,400
$996.4K
Cap Rate 7%
$711,714
$711.7K
Cap Rate 9%
$553,556
$553.6K
Market Conditions
NOI Build-Up for 5,956 SF
Gross rent
$73.6K $12.36/SF
− Vacancy
−$2.4K −$0.41/SF
EGI
$71.2K $11.95/SF
− OpEx
−$21.4K −$3.58/SF
NOI
$49.8K $8.36/SF
Area
Stark County, OH
Vacancy
3.32%
Lease Rate
$12.36 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$996,400
Cap Rate 7%
$711,714
Cap Rate 9%
$553,556
Alternative Uses
Best Use
Retail
$1.56M
$1.36M – $1.81M
NOI $108,854 @ 7.0% cap · market cap 12.81%
Second Best
Multifamily LT 5
$711.7K
$622.8K – $830.3K
NOI $49,820 @ 7.0% cap · market cap 5.86%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
504
Businesses Nearby
Explore this area
Business Placement
Demographics for 44720, OH
40,744
Population
17,988
Households
2.3
Avg Household Size
43
Median Age
42%
College-Educated
97%
High-School Grad
34.3 sq mi
ZIP Area
1,188
Density / Sq Mi
$81,045
Median Household Income
$46,587
Median Earnings
$977
Median Rent
$233,800
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Midwest region
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Frequently Asked Questions
What type of property is this?
Mixed-use property - First-floor storefront and restaurant space sits above two 2-bedroom apartments, with 32 parking spaces and a detached garage.
Where is this mixed-use property located?
The property is located at 531 N Main St North Canton, OH.
What is the asking price?
The asking price for this property is $850,000.
What are key features of this property?
This property features: 1st‑floor storefront and restaurant space totaling 3,528 SF with visible storefront; Second‑floor layout includes two 2‑bedroom apartments; 32 on‑site parking spaces
