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    400 E Main St Canfield, OH 44406

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    Newly renovated lower-level office unit on State Route 224.

    Property Features for 400 E Main St

    General Information

    Standard status
    Active

    Building Details

    Year built
    1979

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    Listing Contact
    Dennis Gonatas
    Dennis Gonatas
    Source: Crexi

    Listing Agency: Gonatas Real Estate Listing Agent: Dennis Gonatas

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    Modern Office Unit in Canfield

    This leasing opportunity features a modern, newly renovated lower-level office unit in Canfield, Ohio. Located on State Route 224, the property offers a contemporary, professional environment with convenient amenities and a strategic location. The unit boasts a fresh, modern design with high-quality finishes, providing a sleek and professional atmosphere. The spacious layout accommodates various business needs, including private offices and collaborative workspaces. Advanced HVAC systems ensure year-round climate control. Building amenities include a well-maintained common area bathroom on the lower level, a welcoming lobby area with contemporary décor and comfortable seating, and a state-of-the-art conference room equipped with the latest technology. The property enjoys high visibility and easy access, making it an ideal location for businesses looking to establish a prominent presence in Canfield. It is conveniently located near dining, shopping, and service options, and includes ample parking space. Canfield is a thriving community known for its friendly atmosphere and strong business environment. The location on State Route 224 places your business in the heart of one of Canfield’s most dynamic areas, providing opportunities for networking and growth within a supportive community. The property is managed by a professional team dedicated to ensuring a high standard of maintenance and tenant satisfaction.
    Location Intelligence

    Current Use by Public Records

    Kasmer Insurance Insurance Agency JR Grinder Take-out & Catering Nothin Dumb Studios Film Production All Ohio Title ... Title Company Tru Clean Janitorial Hardware & Home Improvement

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Canfield
    County
    Mahoning
    State
    Ohio
    Longitude
    -80.7494201
    Latitude
    41.0250815

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    FAQs

    What type of property is this?
    Office units - Newly renovated lower-level office unit on State Route 224.
    Where is this office units located?
    The property is located at 400 E Main St Canfield, OH.
    What are key features of this property?
    This property features: - Prime location on State Route 224 offers high visibility and easy access.; - Newly renovated, modern office unit with high-quality finishes.; - Flexible leasing options available to accommodate specific business needs.
    (330) 729-5004
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    400 E Main St Canfield, OH 44406
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    Canfield, OH 44406
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    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
    400 E Main St Canfield, OH 44406
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    We can help!
    Listing Contact
    Dennis Gonatas
    Dennis Gonatas
    Real Estate License ID: BRKP.2023000272
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