Mixed-Use Property with
For Sale
Contact for pricing
645 Summit St NW, Warren, OH 44485
7,668 SF mixed-use property with warehouse and office/retail space.
Property Size7,668 SF
Lot Size1.80 Acres
Price / SF$55.43
Days on Market651
Property Features for 645 Summit St NW
General Information
Standard status
Active
Size
7,668 SF
Lot size
1.80 Acres
Property subtype
Industrial, Office
Zoning
Manufacturing
Lease Type
NNN
Building Details
Year Built
1940
Year Renovated
2007
Tenancy
Single
Listing Agency:
Platz Realty Group
(501) 551-3817
Listed By:
Adam Divelbiss · License #OH
Source:
Crexi
Added: Oct 28, 2024
Changed: Aug 8
Last Checked: Jun 25 at 12:40PM
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 Platz Realty Group
Investment Insights
Based on property information with market context.
This 7,668 square foot mixed-use property is situated on 1.8 acres. The property features office and retail space at the front, with a warehouse at the rear, including one drive-in door. It is zoned for manufacturing. The property is located adjacent to the Mahoning River, just west of Mahoning Avenue, and in close proximity to Akron Children’s Pediatric Hospital.
Key Highlights
- 7,668 SF Office/Retail Space with Rear Warehouse
- Situated on a 1.8 Acre Lot
- Zoned Manufacturing
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
$38,261
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
9.00%
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%
$765,220
$765.2K
Cap Rate 7%
$546,586
$546.6K
Cap Rate 9%
$425,122
$425.1K
Market Conditions
NOI Build-Up for 7,668 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
$49.2K $6.41/SF
− Vacancy
−$4.1K −$0.54/SF
EGI
$45.0K $5.87/SF
− OpEx
−$6.8K −$0.88/SF
NOI
$38.3K $4.99/SF
Area
Trumbull County, OH
Vacancy
8.42%
Lease Rate
$6.41 /SF/Yr
Expense Ratio
15.00%
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%
$765,220
Cap Rate 7%
$546,586
Cap Rate 9%
$425,122
Alternative Uses
Best Use
Mixed Use
$1.08M
$948.9K – $1.27M
NOI $75,913 @ 7.0% cap · market cap 17.86%
Second Best
Retail
$1.06M
$925.6K – $1.23M
NOI $74,047 @ 7.0% cap · market cap 17.42%
Theoretical Best
Office A
$1.46M
$1.27M – $1.70M
NOI $101,880 @ 7.0% cap · market cap 23.97%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
331
Businesses Nearby
Explore this area
Business Placement
Demographics for 44485, OH
15,172
Population
7,640
Households
2
Avg Household Size
39
Median Age
15%
College-Educated
82%
High-School Grad
7.8 sq mi
ZIP Area
1,945
Density / Sq Mi
$33,720
Median Household Income
$30,225
Median Earnings
$818
Median Rent
$73,600
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - 7,668 SF mixed-use property with warehouse and office/retail space.
Where is this mixed-use property located?
The property is located at 645 Summit St NW Warren, OH.
What is the asking price?
The asking price for this property is $425,000.
What are key features of this property?
This property features: 7,668 SF Office/Retail Space with Rear Warehouse; Situated on a 1.8 Acre Lot; Zoned Manufacturing
