Freestanding Flex
For Sale
$399,999
9040 State Route 14, Streetsboro, OH 44241
Showroom, office, and heated warehouse areas support a versatile commercial configuration with Business District zoning.
Property Size3,600 SF
Lot Size0.40 Acres
Price / SF$111.11
Days on Market71
Property Features for 9040 State Route 14
General Information
Standard status
Active
Size
3,600 SF
Total Parking Spaces
20
Lot size
0.40 Acres
Property subtype
Commercial
Zoning
Business District
Site & Location
Highway Access
Yes
Road Access
Yes
Fenced Yard
Yes
Warehouse & Industrial
Clear Span
Yes
Warehouse Space
1,600 SF
Drive-In Doors
2
Conditioned Warehouse
No
Taxes and HOA fees
Annual Taxes
$4,463
Amenities
conference room
storage shed
Building Details
Building Size
3,600 SF
Year Built
1965
Buildings
1
Listing Agency:
Century 21 Homestar
(440) 477-8046
Listed By:
Samantha D Wallauz · License #2016004981
(440) 477-8046
Source:
Carolgoffrealestate
Added: Jun 22
Changed: Aug 28
Last Checked: Aug 29 at 10:19AM
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 Century 21 Homestar
Investment Insights
Based on property information with market context.
This freestanding flex property contains 3,600 square feet arranged for showroom, office, and warehouse functions. The finished front area measures approximately 2,000 square feet and includes a conference room, private office, design center, and restroom. Heating and cooling are provided, with a new furnace and central air system installed in 2023.
The rear portion adds 1,600 square feet of heated open-span warehouse area, equipped with a 12' x 12' overhead door, an 8' x 8' rear overhead door, and a gas-fired shop heater. Site improvements include an asphalt parking lot for approximately 20 vehicles, a partially fenced rear yard, and a storage shed on a 95' x 183' lot.
The property fronts State Route 14 and provides access to the Ohio Turnpike via I-80 and State Route 43. Traffic counts exceed 29,000 vehicles per day, and the property is zoned Business District. The building was constructed in 1965.
The rear portion adds 1,600 square feet of heated open-span warehouse area, equipped with a 12' x 12' overhead door, an 8' x 8' rear overhead door, and a gas-fired shop heater. Site improvements include an asphalt parking lot for approximately 20 vehicles, a partially fenced rear yard, and a storage shed on a 95' x 183' lot.
The property fronts State Route 14 and provides access to the Ohio Turnpike via I-80 and State Route 43. Traffic counts exceed 29,000 vehicles per day, and the property is zoned Business District. The building was constructed in 1965.
Key Highlights
- 3,600‑square‑foot freestanding flex building with showroom, office, and warehouse areas
- Approximately 2,000 square feet of finished showroom and office space
- 1,600‑square‑foot heated open‑span warehouse area
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
$17,183
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
4.30%
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%
$343,660
$343.7K
Cap Rate 7%
$245,471
$245.5K
Cap Rate 9%
$190,922
$190.9K
Market Conditions
NOI Build-Up for 3,600 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
$21.5K $5.98/SF
− Vacancy
−$1.3K −$0.36/SF
EGI
$20.2K $5.62/SF
− OpEx
−$3.0K −$0.84/SF
NOI
$17.2K $4.77/SF
Area
Portage County, OH
Vacancy
6.10%
Lease Rate
$5.98 /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%
$343,660
Cap Rate 7%
$245,471
Cap Rate 9%
$190,922
Alternative Uses
Best Use
Office B
$630.5K
$551.7K – $735.6K
NOI $44,135 @ 7.0% cap · market cap 11.03%
Second Best
Warehouse
$245.5K
$214.8K – $286.4K
NOI $17,183 @ 7.0% cap · market cap 4.30%
Theoretical Best
Office A
$725.1K
$634.5K – $846.0K
NOI $50,759 @ 7.0% cap · market cap 12.69%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Drive-in doors
Yes
Fenced yard
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
315
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 44241, OH
17,659
Population
7,756
Households
2.3
Avg Household Size
41
Median Age
27%
College-Educated
91%
High-School Grad
22.2 sq mi
ZIP Area
795
Density / Sq Mi
$81,392
Median Household Income
$48,141
Median Earnings
$1,372
Median Rent
$190,700
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Showroom, office, and heated warehouse areas support a versatile commercial configuration with Business District zoning.
Where is this flex space located?
The property is located at 9040 State Route 14 Streetsboro, OH.
What is the asking price?
The asking price for this property is $399,999.
What are key features of this property?
This property features: 3,600‑square‑foot freestanding flex building with showroom, office, and warehouse areas; Approximately 2,000 square feet of finished showroom and office space; 1,600‑square‑foot heated open‑span warehouse area
