Brick Quadplex
For Sale
Contact for pricing
801 East Exchange Street, Akron, OH 44306
Two two-story buildings provide eight apartments with rear surface parking.
Property Size5,376 SF
Lot Size0.22 Acres
Price / SF$92.82
Days on Market74
Property Features for 801 East Exchange Street
General Information
Standard status
Active
Size
5,376 SF
Class
C
Lot size
0.22 Acres
Property subtype
Multifamily
Occupancy
88%
Investment Type
Value Add
Net Operating Income
$49,522
Financials
Asking Price
$499,000
Cap Rate
9.92%
Site & Location
Highway Access
Yes
Road Access
Yes
Public Transit
Yes
Utilities to Site
Yes
Units
Unit Mix
5 x 2BR/1BA, 3 x 1BR/1BA
Multifamily Units
8
Building Details
Year Built
1926
Buildings
2
Stories
2
Units
8
Construction
all brick
Listing Agency:
Green Bridge Real Estate
(216) 452-9292
Listed By:
Matthew King · License #BRK-20090002834
Source:
Crexi
Added: Jun 18
Changed: Aug 29
Last Checked: Aug 29 at 3:28PM
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 Green Bridge Real Estate
Investment Insights
Based on property information with market context.
This residential income property includes two four-unit, two-story apartment buildings at 801 and 805 East Exchange Street. The all-brick buildings were constructed in 1926 and contain approximately 5,376 square feet combined on 0.218 acres. The unit mix includes five two-bedroom, one-bath apartments and three one-bedroom, one-bath apartments. Five units have received layout and cosmetic updates, including refinished hardwood floors, fresh paint, and new bedroom carpeting.
Recent capital work includes replacement of the front porch at 805 East Exchange Street in 2023, brick tuckpointing in 2023, and installation of a sanitary line liner to the street in 2023. The pitched roofs were replaced in 2008. Rear surface parking serves the buildings, and laundry hookups are in place with two sets of coin-operated washers and dryers. Individual gas furnaces and hot water tanks support tenant-paid heat, while electric service is submetered; the landlord pays water and sewer.
The property is 0.6 miles from the University of Akron, adjacent to Dave’s Supermarket, and near dining, shopping, and public transit bus stops. I-76, I-77, and State Route 8 provide regional access.
Recent capital work includes replacement of the front porch at 805 East Exchange Street in 2023, brick tuckpointing in 2023, and installation of a sanitary line liner to the street in 2023. The pitched roofs were replaced in 2008. Rear surface parking serves the buildings, and laundry hookups are in place with two sets of coin-operated washers and dryers. Individual gas furnaces and hot water tanks support tenant-paid heat, while electric service is submetered; the landlord pays water and sewer.
The property is 0.6 miles from the University of Akron, adjacent to Dave’s Supermarket, and near dining, shopping, and public transit bus stops. I-76, I-77, and State Route 8 provide regional access.
Key Highlights
- Two four‑unit apartment buildings totaling 8 units
- Five two‑bedroom and three one‑bedroom apartments
- Approximately 5,376 SF across 0.218 acres; constructed in 1926
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
$43,100
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
8.64%
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%
$862,000
$862.0K
Cap Rate 7%
$615,714
$615.7K
Cap Rate 9%
$478,889
$478.9K
Market Conditions
NOI Build-Up for 5,376 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
$82.6K $15.36/SF
− Vacancy
−$4.2K −$0.78/SF
EGI
$78.4K $14.58/SF
− OpEx
−$35.3K −$6.56/SF
NOI
$43.1K $8.02/SF
Area
Akron, OH
Vacancy
5.10%
Lease Rate
$15.36 /SF/Yr
Expense Ratio
45.00%
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%
$862,000
Cap Rate 7%
$615,714
Cap Rate 9%
$478,889
Alternative Uses
Best Use
Multifamily LT 5
$703.3K
$615.4K – $820.5K
NOI $49,232 @ 7.0% cap · market cap 9.87%
Second Best
Apartment 5plus
$615.7K
$538.8K – $718.3K
NOI $43,100 @ 7.0% cap · market cap 8.64%
Theoretical Best
Office A
$1.32M
$1.15M – $1.54M
NOI $92,352 @ 7.0% cap · market cap 18.51%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
8
Residential units
Yes
Highway access
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
752
Businesses Nearby
Explore this area
Business Placement
Demographics for 44306, OH
21,085
Population
10,424
Households
2
Avg Household Size
34
Median Age
9%
College-Educated
86%
High-School Grad
8.3 sq mi
ZIP Area
2,540
Density / Sq Mi
$41,105
Median Household Income
$30,481
Median Earnings
$901
Median Rent
$77,500
Median Home Value
Market
Vacancy Rate% for Multifamily 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?
Quadplex - Two two-story buildings provide eight apartments with rear surface parking.
Where is this quadplex located?
The property is located at 801 East Exchange Street Akron, OH.
What is the asking price?
The asking price for this property is $499,000.
What are key features of this property?
This property features: Two four‑unit apartment buildings totaling 8 units; Five two‑bedroom and three one‑bedroom apartments; Approximately 5,376 SF across 0.218 acres; constructed in 1926
