Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    2249 State Rd Cuyahoga Falls, OH 44223

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    6,796 SF Advance Auto Parts on 0.68 acres.

    Type:Retail
    Property size:
    6,796 SF
    Lot size:
    0.68 Acres
    Price / SF:
    $229/SF
    Added:
    Sep 9, 2024
    Days on Market:
    598
    Last Refresh:
    Mar 17 at 1:26 pm

    Property Features for 2249 State Rd

    General Information

    Standard status
    Active
    Size
    6,796 SF
    Lot size
    0.68 Acres
    Property subtype
    Retail

    Building Details

    Year Built
    2004

    We can help!

    Listing Contact
    Chris Bosworth

    Listing agent Chris Bosworth License #GA 248342

    Listing office CBRE - Atlanta

    Listing date Sep 9, 2024

    Source Crexi

    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 CBRE - Atlanta

    Overview

    Advance Auto Parts For Sale

    The property features a 6,796-square-foot Advance Auto Parts situated on 0.68 acres in Cuyahoga Falls, Ohio, which is part of the Akron, OH MSA with a population of 697,418. The net lease, originally set to expire in 2019, has been extended twice, demonstrating commitment to the location. The lease was recently extended early for an additional 8 years through 2034 and now features approximately 8.9 years of term remaining with a $1.00 PSF increase in each of the three 5-year renewal options.
    Location Intelligence

    Current Use by Public Records

    Advance Auto Parts Auto Parts Store UPS Access Point ... Courier Service

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    • Crash Champions Collision Repair Cuyahoga Falls — 26 E Steels Corners Rd, Cuyahoga Falls, OH 44224
    • B & B Auto Service and Towing — 3901 State Rd, Cuyahoga Falls, OH 44223
    • Falls Auto Repair — 3934 state rd ste a, cuyahoga falls, oh 44223
    • Falls Auto Body — 4014 State Rd, Cuyahoga Falls, OH 44223
    • Sands Cycleworks — 20 W Steels Corners Rd, Cuyahoga Falls, OH 44223

    Location Insight

    • Map
    • Local Demand
    City
    Cuyahoga Falls
    County
    Summit
    State
    Ohio
    Longitude
    -81.508187
    Latitude
    41.137693

    Nearby Similar for Sale

    • $379,000
      2,622 SF

      Cuyahoga Falls Multifamily Investment

      Four-unit property with recent renovations and new roof.
      2890 Bailey Road, Cuyahoga Falls, OH 44221
      View Details
    • $175,000
      1,986 SF

      Multi-Unit Property in Cuyahoga Falls

      Multi-family property near downtown, offering renovation and investment potential.
      2860 Hudson Drive, Cuyahoga Falls, OH 44221
      View Details
    • $895,000
      10,075 SF

      Multi-Tenant Investment Property For Sale

      10,075 sq. ft. building, 100% occupied near Route 8.
      4183 Wyoga Lake Rd, Cuyahoga Falls, OH
      View Details
    • $269,900

      Multifamily Opportunity in Cuyahoga Falls

      Two remodeled homes on one parcel, ideal for investors.
      242 Orchard Avenue, Cuyahoga Falls, OH 44221
      View Details
    • $13
      15,506 SF

      Cuyahoga Falls Office For Sale

      Office space in a well-connected commercial corridor.
      2680 North Haven Blvd, Cuyahoga Falls, OH 44223
      View Details
    • $845,000
      3,600 SF

      Cuyahoga Falls Office Space Available

      Affordable office space near Downtown Cuyahoga Falls and Route 8.
      1871 Bailey Rd, Cuyahoga Falls, OH
      View Details
    • $350,000
      1,600 SF

      Retail/Office Space on State Rd

      1600 SF retail/office space for lease in Cuyahoga Falls.
      1652-1654 State Rd, Cuyahoga Falls, OH
      View Details
    • $995,000
      10,046 SF

      Cuyahoga Falls Warehouse For Sale

      10,000 SF warehouse with office space available for sale.
      1750 Newberry St, Cuyahoga Falls, OH
      View Details
    • $1,550,000
      3,104 SF

      Freestanding Restaurant on 4.11 Acres

      Highly visible restaurant property with redevelopment potential in Cuyahoga Falls.
      350 E Steels Corners Rd, Cuyahoga Falls, OH 44224
      View Details
    • $1,495,000
      9,015 SF

      Renovated Venue in Downtown Cuyahoga

      Newly renovated 9,015 SF venue in the heart of downtown.
      2128 Front St, Cuyahoga Falls, OH 44221
      View Details
    • $4,115,000
      34,785 SF

      Retail Investment Opportunity

      Retail property with 10.74% CAP rate for sale.
      2925 State Rd, Cuyahoga Falls, OH 44223
      View Details
    • Contact for pricing

      Cuyahoga Falls Apartment Building

      Apartment building for sale in Cuyahoga Falls, Ohio.
      2550 2nd St, Cuyahoga Falls, OH 44221
      View Details

    FAQs

    What type of property is this?
    Auto shop - 6,796 SF Advance Auto Parts on 0.68 acres.
    Where is this auto shop located?
    The property is located at 2249 State Rd Cuyahoga Falls, OH.
    What is the asking price?
    The asking price for this property is $1,559,600.
    What are key features of this property?
    This property features: Advance Auto Parts lease extended early through 2034, providing **±8.9 years of remaining term**.; Tenant commitment demonstrated by two lease extensions.; Located in Cuyahoga Falls, Ohio, part of the Akron, OH MSA (MSA Population: 697,418).
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Chris Bosworth
    Real Estate License ID: GA 248342
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!