Building Details

Year Built 2008

Listing Agency: Home Equity Realty Group

Listed By: Roger L Nair · License #2011001849 Show Phone

Source: Kmlkrealty

Added: Aug 25 Changed: Oct 7 Last Checked: Oct 7 at 4:20PM

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Investment Insights

Based on property information with market context.

This ground-floor medical office condominium contains 4,506 square feet and was built in 2008. The layout includes a reception area, bathrooms, elevator and stair access, and underground parking for unit owners. Its configuration supports medical, dental, therapy, and general professional office use.

The property is located in Fairlawn near I-77, Route 18, and I-71, with connections to Akron, Cleveland, and Canton. The surrounding Fairlawn/Montrose area includes professional offices, retail, dining, and lodging. A professionally managed association maintains the shared property areas.

Key Highlights

• 4,506‑square‑foot medical office condominium
• Ground‑level unit with elevator and stair access
• Built in 2008

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$53,293

Cap Rate

5.61%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,065,860 $1.1M

Cap Rate 7%

$761,329 $761.3K

Cap Rate 9%

$592,144 $592.1K

Market Conditions

NOI Build-Up for 4,506 SF

Gross rent

$76.2K $16.92/SF

− Vacancy

−$5.2K −$1.15/SF

EGI

$71.1K $15.77/SF

− OpEx

−$17.8K −$3.94/SF

NOI

$53.3K $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%

$1,065,860

Cap Rate 7%

$761,329

Cap Rate 9%

$592,144

Alternative Uses

Best Use

Office B

$761.3K

$666.2K – $888.2K (±1% cap)

NOI $53,293 @ 7.0% cap · market cap 5.61%

Second Best

Healthcare Medical

$669.6K

$585.9K – $781.3K (±1% cap)

NOI $46,875 @ 7.0% cap · market cap 4.93%

Theoretical Best

Office A

$1.11M

$967.6K – $1.29M (±1% cap)

NOI $77,407 @ 7.0% cap · market cap 8.15%

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

Property Analytics

Current Use

Medical Office Space

Suggested Use

Top Pick Real Estate Agency Restaurant Building Supply Auto Repair Shop Auto Parts Store Big Box & Wholesale Store

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

Lease Details

Yes

Highway access

Location Intelligence

Trade Area within ½ mile

297

Businesses Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Demographics for 44333, OH

19,449

Population

8,598

Households

2.3

Avg Household Size

49

Median Age

64%

College-Educated

98%

High-School Grad

28.4 sq mi

ZIP Area

685

Density / Sq Mi

$119,313

Median Household Income

$63,920

Median Earnings

$1,232

Median Rent

$362,600

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

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this medical office space located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Medical Office Space - Accessible condominium office space supports medical, dental, therapy, and general professional uses.

Where is this medical office space located?

The property is located at 822 Kumho Drive #101/104 Fairlawn, OH.

What is the asking price?

The asking price for this property is $950,000.

What are key features of this property?

This property features: 4,506‑square‑foot medical office condominium; Ground‑level unit with elevator and stair access; Built in 2008