Flex Space with
For Sale
$200,000
816 Cleveland Avenue NW, Canton, OH 44702
CommercialSale, Canton, OH
Property Size1,720 SF
Lot Size0.16 Acres
Price / SF$116.28
Days on Market198
Property Features for 816 Cleveland Avenue NW
General Information
Property type
Commercial Sale
Property subtype
Other
Elementary school district
Canton CSD - 7602
Middle school district
Canton CSD - 7602
High school district
Canton CSD - 7602
Directions
Cleveland Ave. between 8th St. NW and 9th St. NW
Standard status
Active
APN
00205214
Lot size
0.16 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
747-37.5 X 200'NMP
Tax Annual Amount
864
Legal Description
747-37.5 X 200'NMP
Utilities
Sewer type
Public Sewer
Heating system
Forced Air, Natural Gas
Water source
Public
Building Details
Year built
1989
Listing Agency:
Cutler Real Estate
(330) 492-7230
Listed By:
Michael C Boylan · License #443636
(330) 704-5945
Added: Feb 13
Changed: Aug 20
Last Checked: Aug 30 at 3:06PM
MLS# 5186853
Copyright © 2026 MLS Now. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This flex property combines a 520-square-foot office building with a 1,200-square-foot brick warehouse for 1,720 square feet of improvements. The office includes a half bathroom, while the warehouse offers a 10-foot ceiling, one 9-foot overhead door, a separate man door, and plumbing for a restroom. A Resnor heater serves the warehouse, and the property has forced-air, natural-gas heating.
Located at 816 Cleveland Avenue NW in Canton, the property is zoned B-5 Central Business. Public water and public sewer serve the site, and parking is provided behind the buildings. The improvements were built in 1989.
Located at 816 Cleveland Avenue NW in Canton, the property is zoned B-5 Central Business. Public water and public sewer serve the site, and parking is provided behind the buildings. The improvements were built in 1989.
Key Highlights
- 1,720 SF of combined office and warehouse improvements
- 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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Flex space - Combined office and warehouse improvements with rear parking and public utilities in a central business zoning district.
Where is this flex space located?
The property is located at 816 Cleveland Avenue 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 of combined office and warehouse improvements; 520 SF office building with half bathroom; 1,200 SF brick warehouse with 10' ceiling
