Building Details

Building Size 1,706 SF

Listing Agency: Hoff & Leigh Show Phone

Listed By: Jennifer Fernandez, CCIM, SIOR · License #SAL.0000430116 Show Phone

Source: Hoffleigh

Added: May 1, 2024 Changed: Oct 3 Last Checked: Oct 14 at 7:35PM

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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 Hoff & Leigh

Investment Insights

Based on property information with market context.

This 1,706 square foot property, currently leased by an adult daycare, is situated on 1.36 acres of land. The converted home features three large activity rooms, three smaller rooms, and three restrooms, along with a basement level and a large detached garage. The property is located just south of West Market Street on South Cleveland Massillon Road in Copley, Ohio. A monument sign fronts Cleveland Massillon Road. The property is suited for adult daycare and professional office uses with a retail component.

Key Highlights

• 1.36 acres of land
• 1,706 SF converted home with flexible layout featuring 3 large activity rooms and 3 smaller rooms
• Located in Copley, just south of W. Market Street on S. Cleveland Massillon Road

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$20,177

Cap Rate

5.53%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$403,540 $403.5K

Cap Rate 7%

$288,243 $288.2K

Cap Rate 9%

$224,189 $224.2K

Market Conditions

NOI Build-Up for 1,706 SF

Gross rent

$28.9K $16.92/SF

− Vacancy

−$2.0K −$1.15/SF

EGI

$26.9K $15.77/SF

− OpEx

−$6.7K −$3.94/SF

NOI

$20.2K $11.83/SF

Area

Akron, 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%

$403,540

Cap Rate 7%

$288,243

Cap Rate 9%

$224,189

Alternative Uses

Best Use

Office B

$288.2K

$252.2K – $336.3K (±1% cap)

NOI $20,177 @ 7.0% cap · market cap 5.53%

Second Best

Retail

$275.2K

$240.8K – $321.0K (±1% cap)

NOI $19,262 @ 7.0% cap · market cap 5.28%

Theoretical Best

Office A

$418.7K

$366.3K – $488.5K (±1% cap)

NOI $29,307 @ 7.0% cap · market cap 8.03%

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

Property Analytics

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Current Use

Elite Designs Production Facility

Suggested Use

Top Pick Kitchen & Bath Showroom Real Estate Agency Storage Facility Grocery & Convenience Store Garden Center HVAC Service

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

785

Businesses Nearby

Balanced

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 day care centers located? What is the asking price? Find similar properties What are key features of this property?

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Similar Off Market Nearby

• Almost Mom Child Development Care Center — 258 S Cleveland Massillon Rd, Fairlawn, OH 44333
• Akron Montessori School — 3882 Bywood Ave, Fairlawn, OH 44333
• Kids At Heart Preschool & Child Care Center — 186 S Cleveland Massillon Rd, Akron, OH 44333
• Fairlawn Village Preschool — 3300 Morewood Rd, Akron, OH 44333

Frequently Asked Questions

What type of property is this?

Day care center - 1,706 SF property on 1.36 acres in Copley, Ohio.

Where is this day care center located?

The property is located at 278 South Cleveland Massillon Road Akron, OH.

What is the asking price?

The asking price for this property is $365,000.

What are key features of this property?

This property features: 1.36 acres of land; 1,706 SF converted home with flexible layout featuring 3 large activity rooms and 3 smaller rooms; Located in Copley, just south of W. Market Street on S. Cleveland Massillon Road