Retail and Apartment Investment
For Sale
Contact for pricing
533 North Main Street, North Canton, OH
7,056 SF property with retail space and apartments.
Property Size7,056 SF
Lot Size0.46 Acres
Price / SF$120.46
Days on Market257
Property Features for 533 North Main Street
General Information
Standard status
Active
Size
7,056 SF
Lot size
0.46 Acres
Property subtype
RETAIL
Listing Agency:
NAI Spring
(330) 354-3466
Listed By:
Jared Sanford · License #SAL.0000399521
(330) 354-3466
Source:
Moodyscre
Added: Nov 25, 2025
Changed: Aug 8
Last Checked: Jul 16 at 5:05AM
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 7,056 SF property, constructed in 1947 and renovated in 1986, presents a prime opportunity for retail and free-standing building investors. Zoned MS-C Main Street Center, the property is situated in the Stark County area, suitable for various commercial ventures. The property includes income from two 2-bedroom, 1-full bath apartments above, each equipped with a washer/dryer and central air, and currently rented for $800 per month. Approximately 1,600 SF to 3,239 SF of retail space is available. The North Canton area is experiencing significant growth, making it an ideal location for retail businesses. A newly proposed Fire and EMS building at Main and Viking Streets, just a block away, underscores the area's continued investment in infrastructure. The recent opening of a Meijer store nearby has attracted increased attention from national retailers, further boosting the local market. Stark County’s thriving commercial environment, combined with its expanding amenities and strong traffic flow, makes this a prime location for businesses looking to establish or grow their presence. The property also benefits from its proximity to the Pro Football Hall of Fame, a nationally recognized destination that attracts a steady stream of visitors, further enhancing business visibility and potential in the area.
Key Highlights
- Prime location in Stark County with MS‑C Main Street Center zoning.
- Income‑generating property with two 2‑bedroom apartments renting for $800/month each.
- Located in a growing area of North Canton, benefiting from new infrastructure investments.
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
$51,681
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
6.08%
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%
$1,033,620
$1.0M
Cap Rate 7%
$738,300
$738.3K
Cap Rate 9%
$574,233
$574.2K
Market Conditions
NOI Build-Up for 7,056 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
$97.4K $13.80/SF
− Vacancy
−$3.4K −$0.48/SF
EGI
$94.0K $13.32/SF
− OpEx
−$42.3K −$5.99/SF
NOI
$51.7K $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 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%
$1,033,620
Cap Rate 7%
$738,300
Cap Rate 9%
$574,233
Alternative Uses
Best Use
Retail
$1.84M
$1.61M – $2.15M
NOI $128,958 @ 7.0% cap · market cap 15.17%
Second Best
Apartment 5plus
$738.3K
$646.0K – $861.4K
NOI $51,681 @ 7.0% cap · market cap 6.08%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
497
Businesses Nearby
Explore this area
Business Placement
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - 7,056 SF property with retail space and apartments.
Where is this retail space located?
The property is located at 533 North Main Street 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: Prime location in Stark County with MS‑C Main Street Center zoning.; Income‑generating property with two 2‑bedroom apartments renting for $800/month each.; Located in a growing area of North Canton, benefiting from new infrastructure investments.
