Renovated Flex Space with Drive-In
For Sale
$1,300,000
900 Killian Rd, Akron, OH 44312
Renovated commercial space combines office area with multiple drive-in doors and 3-phase power.
Property Size19,797 SF
Price / SF$65.67
Days on Market90
Property Features for 900 Killian Rd
General Information
Standard status
Active
Size
19,797 SF
Property subtype
Industrial
Warehouse & Industrial
Office Build-Out
2,187 SF
Drive-In Doors
10
Three-Phase Power
Yes
Additional Details
Utilities to Site
Yes
Building Details
Building Size
19,797 SF
Year Built
1962
Year Renovated
2012
Listing Agency:
Putman Properties, Inc
(330) 495-8292
Listed By:
Saylor Putman · License #OH #BRKP.2024002388
(330) 495-8292
Source:
Putmanproperties
Added: Jun 3
Changed: Aug 31
Last Checked: Aug 31 at 2:03PM
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 Putman Properties, Inc
Investment Insights
Based on property information with market context.
This flex space encompasses 19,797 square feet and was renovated in 2012. The building includes 2,187 square feet of office area, 10 drive-in doors, and 3-phase power, supporting a blend of administrative and industrial functions.
Constructed in 1962, the property is located at 900 Killian Rd in Akron, Ohio. Its combination of office space, drive-in access, and enhanced electrical service provides a functional configuration for commercial operations requiring both workspace and vehicle access.
Constructed in 1962, the property is located at 900 Killian Rd in Akron, Ohio. Its combination of office space, drive-in access, and enhanced electrical service provides a functional configuration for commercial operations requiring both workspace and vehicle access.
Key Highlights
- 19,797‑square‑foot flex space
- Renovated in 2012
- 2,187 square feet of office space
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
$112,107
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
8.62%
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%
$2,242,140
$2.2M
Cap Rate 7%
$1,601,529
$1.6M
Cap Rate 9%
$1,245,633
$1.2M
Market Conditions
NOI Build-Up for 19,797 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
$135.4K $6.84/SF
− Vacancy
−$3.5K −$0.18/SF
EGI
$131.9K $6.66/SF
− OpEx
−$19.8K −$1.00/SF
NOI
$112.1K $5.66/SF
Area
Akron, OH
Vacancy
2.60%
Lease Rate
$6.84 /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%
$2,242,140
Cap Rate 7%
$1,601,529
Cap Rate 9%
$1,245,633
Alternative Uses
Best Use
Flex RnD
$2.54M
$2.22M – $2.96M
NOI $177,888 @ 7.0% cap · market cap 13.68%
Second Best
Warehouse
$1.60M
$1.40M – $1.87M
NOI $112,107 @ 7.0% cap · market cap 8.62%
Theoretical Best
Office A
$4.86M
$4.25M – $5.67M
NOI $340,085 @ 7.0% cap · market cap 26.16%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
10
Drive-in doors
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
379
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 44312, OH
30,510
Population
14,299
Households
2.1
Avg Household Size
44
Median Age
19%
College-Educated
92%
High-School Grad
19.0 sq mi
ZIP Area
1,606
Density / Sq Mi
$64,542
Median Household Income
$41,829
Median Earnings
$994
Median Rent
$142,100
Median Home Value
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Renovated commercial space combines office area with multiple drive-in doors and 3-phase power.
Where is this flex space located?
The property is located at 900 Killian Rd Akron, OH.
What is the asking price?
The asking price for this property is $1,300,000.
What are key features of this property?
This property features: 19,797‑square‑foot flex space; Renovated in 2012; 2,187 square feet of office space
