Single-Level Medical Office
New
For Sale
$279,000
6942 State Route 44, Ravenna, OH 44266
Two ADA-accessible sections provide exam rooms, reception areas, waiting space, and separate furnaces.
Property Size2,132 SF
Lot Size1.00 Acre
Price / SF$130.86
Days on Market2
Property Features for 6942 State Route 44
General Information
Standard status
Active
Size
2,132 SF
Lot size
1.00 Acre
Building Details
Year Built
1949
Buildings
1
Stories
1
Listing Agency:
RE/MAX Trends Realty
Listed By:
Lisa Hughes · License #2016001415
(330) 603-9008
Source:
Theacclaimedrealty
Added: Sep 7
Last Checked: Sep 7 at 2:59PM
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 RE/MAX Trends Realty
Investment Insights
Based on property information with market context.
Built in 1949, this 2,132-square-foot property occupies 1 acre at the corner of State Route 44 and Route 14. The former residential structure and converted garage area are arranged as two separate, single-level sections, both with ADA access and independent furnaces.
The front section includes a sitting area, kitchenette, full bathroom, half bathroom, three exam rooms with sinks, and a full basement. The rear section provides an entry area, waiting room, reception area, large office, half bathroom, lab, and three additional exam rooms with sinks. Parking includes a few spaces near the front and a rear lot with more than 20 spaces.
The property is across from Sheetz and records a traffic count of 18,372 per day. University Hospital, NEO MED, and Kent State are nearby. The roof is believed to be approximately 6–10 years old, and additional surrounding acreage is also offered for sale.
The front section includes a sitting area, kitchenette, full bathroom, half bathroom, three exam rooms with sinks, and a full basement. The rear section provides an entry area, waiting room, reception area, large office, half bathroom, lab, and three additional exam rooms with sinks. Parking includes a few spaces near the front and a rear lot with more than 20 spaces.
The property is across from Sheetz and records a traffic count of 18,372 per day. University Hospital, NEO MED, and Kent State are nearby. The roof is believed to be approximately 6–10 years old, and additional surrounding acreage is also offered for sale.
Key Highlights
- 2,132‑square‑foot medical office property on 1 acre
- Corner location at State Route 44 and Route 14
- Traffic count of 18,372 per day
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
$22,266
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
7.98%
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%
$445,320
$445.3K
Cap Rate 7%
$318,086
$318.1K
Cap Rate 9%
$247,400
$247.4K
Market Conditions
NOI Build-Up for 2,132 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
$38.4K $18.00/SF
− Vacancy
−$1.3K −$0.59/SF
EGI
$37.1K $17.41/SF
− OpEx
−$14.8K −$6.96/SF
NOI
$22.3K $10.44/SF
Area
Portage County, OH
Vacancy
3.30%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
40.00%
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%
$445,320
Cap Rate 7%
$318,086
Cap Rate 9%
$247,400
Alternative Uses
Best Use
Office B
$373.4K
$326.7K – $435.6K
NOI $26,138 @ 7.0% cap · market cap 9.37%
Second Best
Healthcare Medical
$318.1K
$278.3K – $371.1K
NOI $22,266 @ 7.0% cap · market cap 7.98%
Theoretical Best
Office A
$429.4K
$375.8K – $501.0K
NOI $30,061 @ 7.0% cap · market cap 10.77%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
367
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 44266, OH
32,606
Population
15,036
Households
2.2
Avg Household Size
43
Median Age
21%
College-Educated
92%
High-School Grad
91.9 sq mi
ZIP Area
355
Density / Sq Mi
$61,211
Median Household Income
$40,068
Median Earnings
$904
Median Rent
$159,900
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?
Medical Office Space - Two ADA-accessible sections provide exam rooms, reception areas, waiting space, and separate furnaces.
Where is this medical office space located?
The property is located at 6942 State Route 44 Ravenna, OH.
What is the asking price?
The asking price for this property is $279,000.
What are key features of this property?
This property features: 2,132‑square‑foot medical office property on 1 acre; Corner location at State Route 44 and Route 14; Traffic count of 18,372 per day
