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Building Details

Year Built 1975

Listing Agency: Century 21 Homestar

Listed By: Anthony G Romano · License #2004013247 Show Phone

Source: Groganzeiger

Added: May 14 Changed: Oct 8 Last Checked: Oct 15 at 4:21AM

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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 Century 21 Homestar

Investment Insights

Based on property information with market context.

This updated professional office building, constructed in 1975, is located on a heavily traveled corridor in Northfield. Situated on approximately 0.72 acres, the property offers excellent visibility and convenient access to major highways, including I-271 and Route 8. The building spans approximately 3,200 square feet and features ample on-site asphalt parking and attractive landscaped grounds. The private wooded setting provides a blend of accessibility and privacy. The property is suitable for a variety of professional, medical, counseling, or service-oriented uses. It offers a flexible layout with owner-user or investment potential and is fully furnished with executive office furniture. This distinctive commercial property is located in a desirable location serving both Northfield and surrounding communities.

Key Highlights

• Excellent visibility on a heavily traveled corridor with convenient access to I‑271 and Route 8.
• Updated 3,200 SF office building suitable for professional, medical, counseling, or service‑oriented uses.
• Ample on‑site asphalt parking and attractive landscaped grounds.

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$37,847

Cap Rate

5.82%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$756,940 $756.9K

Cap Rate 7%

$540,671 $540.7K

Cap Rate 9%

$420,522 $420.5K

Is this asking price fair?

Market Conditions

NOI Build-Up for 3,200 SF

Gross rent

$54.1K $16.92/SF

− Vacancy

−$3.7K −$1.15/SF

EGI

$50.5K $15.77/SF

− OpEx

−$12.6K −$3.94/SF

NOI

$37.8K $11.83/SF

Area

Summit County, 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 Rate 5%

$756,940

Cap Rate 7%

$540,671

Cap Rate 9%

$420,522

Alternative Uses

Best Use

Office B

$540.7K

$473.1K – $630.8K (±1% cap)

NOI $37,847 @ 7.0% cap · market cap 5.82%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$785.3K

$687.2K – $916.2K (±1% cap)

NOI $54,972 @ 7.0% cap · market cap 8.46%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Open Analytics

Current Use

Office buildings

Suggested Use

Top Pick Real Estate Agency Auto Repair Shop Building Supply Big Box & Wholesale Store Hair Salon Spa & Massage Center

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

39

Businesses Nearby

Explore this area Business Placement

Demographics for 44067, OH

19,995

Population

9,201

Households

2.2

Avg Household Size

49

Median Age

40%

College-Educated

94%

High-School Grad

17.2 sq mi

ZIP Area

1,163

Density / Sq Mi

$89,082

Median Household Income

$51,312

Median Earnings

$1,242

Median Rent

$234,800

Median Home Value

Market

Vacancy Rate% for Office in Midwest region

13.7% 2019

15.6% 2020

17.1% 2021

18.9% 2022

21% 2023

22% 2024

21.3% 2025

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Frequently Asked Questions

What type of property is this?

Office building - Professional office building with excellent visibility and convenient highway access.

Where is this office building located?

The property is located at 7984 Olde 8 Rd Northfield, OH.

What is the asking price?

The asking price for this property is $649,900.

What are key features of this property?

This property features: Excellent visibility on a heavily traveled corridor with convenient access to I‑271 and Route 8.; Updated 3,200 SF office building suitable for professional, medical, counseling, or service‑oriented uses.; Ample on‑site asphalt parking and attractive landscaped grounds.