Historic Executive Office
For Sale
Contact for pricing
715 East Buchtel Avenue, Akron, OH 44305
Restored historic mansion offering executive office space, presented for sale.
Property Size8,918 SF
Price / SF$134.56
Days on Market34
Property Features for 715 East Buchtel Avenue
General Information
Standard status
Active
Size
8,918 SF
Class
A
Property subtype
Office
Zoning
Commercial
Occupancy
100%
Lease Type
NNN
Investment Type
Stabilized
Building Details
Year Built
1906
Year Renovated
2019
Tenancy
Single
Listing Agency:
Hanna Commercial Real Estate Cleveland
(216) 861-5105
Listed By:
John Lubinski · License #OH 2019006622
Source:
Crexi
Added: Jul 7
Changed: Aug 8
Last Checked: Aug 8 at 2:57PM
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 Hanna Commercial Real Estate Cleveland
Investment Insights
Based on property information with market context.
This restored historic mansion provides executive office space and is offered for sale. The property is configured as an office use within a distinctive, preserved building setting.
The asset is located at 715 East Buchtel Avenue in Akron, Ohio (44305).
The asset is located at 715 East Buchtel Avenue in Akron, Ohio (44305).
Key Highlights
- Restored historic mansion offering executive office space
- Built in 1906
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
$105,474
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
8.79%
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%
$2,109,480
$2.1M
Cap Rate 7%
$1,506,771
$1.5M
Cap Rate 9%
$1,171,933
$1.2M
Market Conditions
NOI Build-Up for 8,918 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
$150.9K $16.92/SF
− Vacancy
−$10.3K −$1.15/SF
EGI
$140.6K $15.77/SF
− OpEx
−$35.2K −$3.94/SF
NOI
$105.5K $11.83/SF
Area
Akron, OH
Vacancy
6.80%
Lease Rate
$16.92 /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%
$2,109,480
Cap Rate 7%
$1,506,771
Cap Rate 9%
$1,171,933
Alternative Uses
Best Use
Office B
$1.51M
$1.32M – $1.76M
NOI $105,474 @ 7.0% cap · market cap 8.79%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.19M
$1.91M – $2.55M
NOI $153,199 @ 7.0% cap · market cap 12.77%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
1,896
Businesses Nearby
Explore this area
Business Placement
Demographics for 44305, OH
21,214
Population
10,230
Households
2.1
Avg Household Size
38
Median Age
17%
College-Educated
88%
High-School Grad
6.7 sq mi
ZIP Area
3,166
Density / Sq Mi
$55,909
Median Household Income
$37,409
Median Earnings
$974
Median Rent
$89,900
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?
Office building - Restored historic mansion offering executive office space, presented for sale.
Where is this office building located?
The property is located at 715 East Buchtel Avenue Akron, OH.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: Restored historic mansion offering executive office space; Built in 1906
