Two-Unit Office
For Sale
$195,000
B-4222 State Route 43, Kent, OH 44240
Unit B offers a right-sized office configuration with prominent exposure along State Route 43.
Property Size1,176 SF
Price / SF$165.82
Days on Market75
Property Features for B-4222 State Route 43
General Information
Standard status
Active
Size
1,176 SF
Taxes and HOA fees
Annual Taxes
$2,208
Building Details
Tenancy
Multi
Listing Agency:
Cutler Real Estate
(330) 327-3393
Listed By:
Steve Burgess · License #2003001789
(330) 327-3393
Source:
Exprealty
Added: Jun 18
Changed: Aug 31
Last Checked: Aug 31 at 2:11AM
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 Cutler Real Estate
Investment Insights
Based on property information with market context.
Unit B is a 1,176-square-foot office unit within a two-unit commercial building. The space is currently available for purchase and provides a practical footprint for an office user seeking a standalone unit.
The property is located at B-4222 State Route 43 in Kent, Ohio, with visibility from the state route. Its unit-level configuration offers an alternative to occupying an entire office building.
The property is located at B-4222 State Route 43 in Kent, Ohio, with visibility from the state route. Its unit-level configuration offers an alternative to occupying an entire office building.
Key Highlights
- Unit B contains 1,176 square feet of office space
- Located within a two‑unit commercial building
- Visible along State Route 43
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
$14,417
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
7.39%
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%
$288,340
$288.3K
Cap Rate 7%
$205,957
$206.0K
Cap Rate 9%
$160,189
$160.2K
Market Conditions
NOI Build-Up for 1,176 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
$25.3K $21.48/SF
− Vacancy
−$6.0K −$5.13/SF
EGI
$19.2K $16.35/SF
− OpEx
−$4.8K −$4.09/SF
NOI
$14.4K $12.26/SF
Area
Portage County, OH
Vacancy
23.90%
Lease Rate
$21.48 /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%
$288,340
Cap Rate 7%
$205,957
Cap Rate 9%
$160,189
Alternative Uses
Best Use
Office B
$206.0K
$180.2K – $240.3K
NOI $14,417 @ 7.0% cap · market cap 7.39%
Second Best
Healthcare Medical
$175.5K
$153.5K – $204.7K
NOI $12,282 @ 7.0% cap · market cap 6.30%
Theoretical Best
Office A
$236.9K
$207.3K – $276.4K
NOI $16,581 @ 7.0% cap · market cap 8.50%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
34
Businesses Nearby
Explore this area
Business Placement
Demographics for 44240, OH
38,354
Population
20,228
Households
1.9
Avg Household Size
32
Median Age
44%
College-Educated
96%
High-School Grad
39.7 sq mi
ZIP Area
966
Density / Sq Mi
$57,415
Median Household Income
$31,613
Median Earnings
$989
Median Rent
$216,000
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?
Office units - Unit B offers a right-sized office configuration with prominent exposure along State Route 43.
Where is this office units located?
The property is located at B-4222 State Route 43 Kent, OH.
What is the asking price?
The asking price for this property is $195,000.
What are key features of this property?
This property features: Unit B contains 1,176 square feet of office space; Located within a two‑unit commercial building; Visible along State Route 43
