Streetsboro Commercial Property For
For Sale
Contact for pricing
Pending
8929 State Route 14, Streetsboro, OH 44241
High-visibility commercial property with income potential and expansion possibilities.
Property Size9,600 SF
Lot Size2.34 Acres
Days on Market798
Property Features for 8929 State Route 14
General Information
Standard status
Pending
Size
9,600 SF
Class
B
Lot size
2.34 Acres
Property subtype
Retail, Office
Building Details
Year Built
1989
Buildings
1
Stories
1
Tenancy
Single
Listing Agency:
Hoff & Leigh Fairlawn
(330) 620-0799
Listed By:
Teigan Cook · License #OH2023005884
Source:
Crexi
Added: Jun 16, 2024
Changed: Aug 21
Last Checked: Aug 21 at 1:02PM
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 Hoff & Leigh Fairlawn
Investment Insights
Based on property information with market context.
Located at 8929 OH-14 in Streetsboro, this property is available for sale and for lease. It presents an opportunity for investors or owner-users seeking high visibility and flexibility. Situated in a high-traffic area, the property features a national tenant, offering immediate rental income. The 2.336-acre lot provides potential for expansion. The building offers generous parking and easy access to major freeways. The property includes 4 units, 2 of which are currently available. Unit A is a 1,536 SF versatile space featuring a 576 SF front office area and a 960 SF warehouse with a 12x14 drive-in door. Unit C has 1,536 SF and is currently set up as a salon but could be converted to another use. The property is suitable for various commercial real estate purposes, including retail, office, and warehouse use.
Key Highlights
- High visibility location in a high‑traffic area.
- Existing national tenant (Airgas) provides immediate rental income.
- 2.336‑acre lot with room for expansion.
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
$45,820
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
4.61%
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%
$916,400
$916.4K
Cap Rate 7%
$654,571
$654.6K
Cap Rate 9%
$509,111
$509.1K
Market Conditions
NOI Build-Up for 9,600 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
$57.4K $5.98/SF
− Vacancy
−$3.5K −$0.36/SF
EGI
$53.9K $5.62/SF
− OpEx
−$8.1K −$0.84/SF
NOI
$45.8K $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%
$916,400
Cap Rate 7%
$654,571
Cap Rate 9%
$509,111
Alternative Uses
Best Use
Office B
$1.68M
$1.47M – $1.96M
NOI $117,693 @ 7.0% cap · market cap 11.83%
Second Best
Warehouse
$654.6K
$572.8K – $763.7K
NOI $45,820 @ 7.0% cap · market cap 4.61%
Theoretical Best
Office A
$1.93M
$1.69M – $2.26M
NOI $135,358 @ 7.0% cap · market cap 13.60%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
215
Businesses Nearby
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?
Retail space - High-visibility commercial property with income potential and expansion possibilities.
Where is this retail space located?
The property is located at 8929 State Route 14 Streetsboro, OH.
What is the asking price?
The asking price for this property is $995,000.
What are key features of this property?
This property features: High visibility location in a high‑traffic area.; Existing national tenant (Airgas) provides immediate rental income.; 2.336‑acre lot with room for expansion.
