Multi-Tenant Warehouse with
For Sale
Contact for pricing
7584 Whipple Avenue Northwest, North Canton, OH 44720
Warehouse space features 20-foot ceilings, recently upgraded HVAC, and a mix of warehouse and office space across three units.
Property Size58,574 SF
Price / SF$56.34
Days on Market127
Property Features for 7584 Whipple Avenue Northwest
General Information
Standard status
Active
Size
58,574 SF
Class
B
Property subtype
Industrial
Occupancy
100%
Lease Type
NNN
Investment Type
Stabilized
Net Operating Income
$264,443
Additional Details
Cap Rate
8%
Clear Height
20 ft
Building Details
Year Built
1974
Year Renovated
2019
Buildings
1
Units
3
Tenancy
Multi
Listing Agency:
Multi Family Purchases LLC
Listed By:
Sandeep Gupta · License #CA BRE 01984344
Source:
Crexi
Added: May 4
Changed: Sep 2
Last Checked: Sep 7 at 12:08PM
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 Multi Family Purchases LLC
Investment Insights
Based on property information with market context.
This is a three-unit multi-tenant warehouse property with a mix of warehouse and office space. The main portion includes 28,000 square feet of warehouse space plus 3,800 square feet of mezzanine office space. A second unit is occupied by Microplex for 12,000 square feet, and the property is described as having 20% office space overall. The warehouse has 20-foot ceilings, and all HVAC systems were recently upgraded. A section covering 28,000 square feet received a new roof in 2019.
The building is located in the City of North Canton and Jackson township. The seller notes the area has no city income tax, and buyers are advised to independently verify the tax status.
Current occupancy includes Suarez Corp occupying 31,800 square feet (28,000 square feet main space and 3,800 square feet mezzanine office space). Microplex is noted as occupying 12,000 square feet.
The building is located in the City of North Canton and Jackson township. The seller notes the area has no city income tax, and buyers are advised to independently verify the tax status.
Current occupancy includes Suarez Corp occupying 31,800 square feet (28,000 square feet main space and 3,800 square feet mezzanine office space). Microplex is noted as occupying 12,000 square feet.
Key Highlights
- 3‑unit multi‑tenant warehouse building totaling 31,800 SF (28,000 SF main + 3,800 SF mezzanine office), with space occupied by Suarez Corp. and Microplex.
- Warehouse space includes 20‑ft ceilings and about 20% office space, providing a warehouse‑and‑office layout across the units.
- All HVAC systems were recently upgraded.
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
$240,303
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
7.28%
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%
$4,806,060
$4.8M
Cap Rate 7%
$3,432,900
$3.4M
Cap Rate 9%
$2,670,033
$2.7M
Market Conditions
NOI Build-Up for 58,574 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
$287.6K $4.91/SF
− Vacancy
−$4.9K −$0.08/SF
EGI
$282.7K $4.83/SF
− OpEx
−$42.4K −$0.72/SF
NOI
$240.3K $4.10/SF
Area
Stark County, OH
Vacancy
1.70%
Lease Rate
$4.91 /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%
$4,806,060
Cap Rate 7%
$3,432,900
Cap Rate 9%
$2,670,033
Alternative Uses
Best Use
Warehouse
$3.43M
$3.00M – $4.01M
NOI $240,303 @ 7.0% cap · market cap 7.28%
Second Best
—
—
no second resolved use
Theoretical Best
Retail
$15.29M
$13.38M – $17.84M
NOI $1,070,516 @ 7.0% cap · market cap 32.44%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
20 ft
Clear height
Location Intelligence
Trade Area within ½ mile
518
Businesses Nearby
Balanced
Demand for This Use
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
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
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Similar Off Market Nearby
- Valley Storage - North Canton — 4685 Hossler Dr NW, North Canton, OH 44720
Frequently Asked Questions
What type of property is this?
Warehouse - Warehouse space features 20-foot ceilings, recently upgraded HVAC, and a mix of warehouse and office space across three units.
Where is this warehouse located?
The property is located at 7584 Whipple Avenue Northwest North Canton, OH.
What is the asking price?
The asking price for this property is $3,300,000.
What are key features of this property?
This property features: 3‑unit multi‑tenant warehouse building totaling 31,800 SF (28,000 SF main + 3,800 SF mezzanine office), with space occupied by Suarez Corp. and Microplex.; Warehouse space includes 20‑ft ceilings and about 20% office space, providing a warehouse‑and‑office layout across the units.; All HVAC systems were recently upgraded.
