Flex Space with
For Sale
$200,000
816 Cleveland Ave NW, Canton, OH 44702
Mixed-use configuration combines office and warehouse improvements under B-5 zoning.
Property Size1,720 SF
Price / SF$116.28
Days on Market38
Property Features for 816 Cleveland Ave NW
General Information
Standard status
Active
Size
1,720 SF
Zoning
B-5
Warehouse & Industrial
Clear Height
10 ft
Warehouse Space
1,200 SF
Office Build-Out
520 SF
Building Details
Year Built
1989
Buildings
2
Construction
brick
Listing Agency:
Cutler Real Estate
(330) 704-5945
Listed By:
Michael C Boylan · License #443636
Source:
Groganzeiger
Added: Jul 23
Changed: Aug 28
Last Checked: Aug 25 at 4:47AM
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 Cutler Real Estate
Investment Insights
Based on property information with market context.
Located at 816 Cleveland Ave NW in Canton, Ohio, this 1,720-square-foot flex property combines separate office and warehouse improvements. The 520-square-foot office includes a half bathroom, while the 1,200-square-foot brick warehouse provides a 10-foot ceiling, one 9-foot overhead door, and a man door. The warehouse is plumbed for a restroom and includes a Resnor heater.
Built in 1989, the property has parking behind the buildings and carries B-5 Central Business zoning. The adjoining building at 814 Cleveland Ave. is also available for sale, providing an additional property option at the same location.
Built in 1989, the property has parking behind the buildings and carries B-5 Central Business zoning. The adjoining building at 814 Cleveland Ave. is also available for sale, providing an additional property option at the same location.
Key Highlights
- 1,720 SF mixed‑use flex property with office and warehouse buildings
- 520 SF office building with half bathroom
- 1,200 SF brick warehouse with 10' ceiling
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
$7,056
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
3.53%
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%
$141,120
$141.1K
Cap Rate 7%
$100,800
$100.8K
Cap Rate 9%
$78,400
$78.4K
Market Conditions
NOI Build-Up for 1,720 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
$8.4K $4.91/SF
− Vacancy
−$144 −$0.08/SF
EGI
$8.3K $4.83/SF
− OpEx
−$1.2K −$0.72/SF
NOI
$7.1K $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%
$141,120
Cap Rate 7%
$100,800
Cap Rate 9%
$78,400
Alternative Uses
Best Use
Office B
$296.9K
$259.8K – $346.4K
NOI $20,782 @ 7.0% cap · market cap 10.39%
Second Best
Warehouse
$100.8K
$88.2K – $117.6K
NOI $7,056 @ 7.0% cap · market cap 3.53%
Theoretical Best
Retail
$449.1K
$392.9K – $523.9K
NOI $31,435 @ 7.0% cap · market cap 15.72%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
10 ft
Clear height
Location Intelligence
Trade Area within ½ mile
1,942
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 44702, OH
1,086
Population
729
Households
1.5
Avg Household Size
55
Median Age
12%
College-Educated
80%
High-School Grad
0.6 sq mi
ZIP Area
1,810
Density / Sq Mi
$13,159
Median Household Income
$23,750
Median Earnings
$296
Median Rent
$107,600
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?
Flex space - Mixed-use configuration combines office and warehouse improvements under B-5 zoning.
Where is this flex space located?
The property is located at 816 Cleveland Ave NW Canton, OH.
What is the asking price?
The asking price for this property is $200,000.
What are key features of this property?
This property features: 1,720 SF mixed‑use flex property with office and warehouse buildings; 520 SF office building with half bathroom; 1,200 SF brick warehouse with 10' ceiling
