Single-Tenant Bank
For Sale
Contact for pricing
9240 Market Square Dr, Streetsboro, OH 44241
Absolute NNN ground lease with Huntington Bank occupancy and access to a major retail corridor.
Property Size4,090 SF
Price / SF$155.99
Days on Market14
Property Features for 9240 Market Square Dr
General Information
Standard status
Active
Size
4,090 SF
Class
A
Property subtype
Retail
Occupancy
100%
Lease Type
Absolute Net
Investment Type
Net Lease
Net Operating Income
$38,288
Site & Location
Anchor Co-Tenants
Target, Lowe's, Walmart, Aldi, Giant Eagle
Traffic Count
32,700 vehicles/day
Additional Details
Asking Price
$614,000
Building Details
Year Built
1995
Tenancy
Single
Listing Agency:
Atlantic Capital Partners
(704) 375-7771
Listed By:
Eric Suffoletto · License #MA 9577141
Source:
Crexi
Added: Aug 18
Changed: Aug 28
Last Checked: Aug 31 at 2:08AM
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 Atlantic Capital Partners
Investment Insights
Based on property information with market context.
This 4,090-square-foot bank property was built in 1995 and is occupied by Huntington Bank under an absolute NNN ground lease. The structure places landlord responsibilities with the tenant and includes a corporate guaranty from Huntington Bancshares Incorporated.
The property is located at 9240 Market Square Drive in Streetsboro, Ohio, within the area’s primary retail corridor. Access is supported by more than 32,700 vehicles per day, with surrounding co-tenancy that includes Target, Lowe’s, Walmart, Aldi, and Giant Eagle. The site serves communities positioned between Cleveland and Akron.
The property is located at 9240 Market Square Drive in Streetsboro, Ohio, within the area’s primary retail corridor. Access is supported by more than 32,700 vehicles per day, with surrounding co-tenancy that includes Target, Lowe’s, Walmart, Aldi, and Giant Eagle. The site serves communities positioned between Cleveland and Akron.
Key Highlights
- 4,090‑square‑foot bank property built in 1995
- Single‑tenant absolute NNN ground lease
- Occupied by Huntington Bank with a corporate guaranty from Huntington Bancshares Incorporated
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
$53,393
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
8.37%
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%
$1,067,860
$1.1M
Cap Rate 7%
$762,757
$762.8K
Cap Rate 9%
$593,256
$593.3K
Market Conditions
NOI Build-Up for 4,090 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
$73.6K $18.00/SF
− Vacancy
−$2.4K −$0.59/SF
EGI
$71.2K $17.41/SF
− OpEx
−$17.8K −$4.35/SF
NOI
$53.4K $13.05/SF
Area
Portage County, OH
Vacancy
3.30%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
25.00%
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%
$1,067,860
Cap Rate 7%
$762,757
Cap Rate 9%
$593,256
Alternative Uses
Best Use
Specialty Retail
$762.8K
$667.4K – $889.9K
NOI $53,393 @ 7.0% cap · market cap 8.37%
Second Best
Retail
$230.4K
$201.6K – $268.8K
NOI $16,127 @ 7.0% cap · market cap 2.53%
Theoretical Best
Office A
$823.8K
$720.9K – $961.1K
NOI $57,668 @ 7.0% cap · market cap 9.04%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
32,700 VPD
Traffic count
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
576
Businesses Nearby
401k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 40%
Shops & Services 22%
Superstores 13%
Groceries 10%
Target
Superstores
52,874 visits/mo
0.4 miles
Giant Eagle Supermarket
Groceries
41,845 visits/mo
0.4 miles
McDonald's
Dining
29,596 visits/mo
0.2 miles
Raising Cane's Chicken Fingers
Dining
24,801 visits/mo
0.4 miles
Lowe's
Home Improvements & Furnishings
24,341 visits/mo
0.4 miles
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 Retail in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Bank - Absolute NNN ground lease with Huntington Bank occupancy and access to a major retail corridor.
Where is this bank located?
The property is located at 9240 Market Square Dr Streetsboro, OH.
What is the asking price?
The asking price for this property is $638,000.
What are key features of this property?
This property features: 4,090‑square‑foot bank property built in 1995; Single‑tenant absolute NNN ground lease; Occupied by Huntington Bank with a corporate guaranty from Huntington Bancshares Incorporated
