Office Condo with Live-Work
For Sale
$205,000
H2-755 Boardman Canfield Rd, Boardman, OH 44512
Bright, flexible office condominium with multiple private rooms, two entrances, and a lower-level kitchenette.
Property Size2,490 SF
Price / SF$82.33
Days on Market10
Property Features for H2-755 Boardman Canfield Rd
General Information
Standard status
Active
Size
2,490 SF
Additional Details
Furnished
Yes
HOA Fee
$250
Taxes and HOA fees
Annual Taxes
$4,571
Listing Agency:
Keller Williams Chervenic Rlty
(330) 717-0545
Listed By:
Marlene Fekete · License #2015001933
(330) 717-0545
Source:
Exprealty
Added: Jul 31
Changed: Aug 7
Last Checked: Aug 9 at 9:26AM
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 Keller Williams Chervenic Rlty
Investment Insights
Based on property information with market context.
Located in Boardman Southbridge Executive Park, this 2,490-square-foot office condominium combines a reception area with numerous separate rooms that can serve as offices, client areas, or other workspace configurations. Cathedral ceilings and multiple skylights bring natural light into the interior, while three bathrooms—including a lower-level bathroom with a shower—support daily operations.
The property includes two separate entrances, abundant parking, and a connected basement providing substantial storage. A lower-level kitchenette adds convenience, and a lift chair is installed for accessibility. Reception and office furnishings, including counters, desks, chairs, couches, tables, and lamps, are included in the sale. The layout also supports an owner-occupant who may wish to lease additional office areas.
The property includes two separate entrances, abundant parking, and a connected basement providing substantial storage. A lower-level kitchenette adds convenience, and a lift chair is installed for accessibility. Reception and office furnishings, including counters, desks, chairs, couches, tables, and lamps, are included in the sale. The layout also supports an owner-occupant who may wish to lease additional office areas.
Key Highlights
- 2,490‑square‑foot office condo in Boardman Southbridge Executive Park
- Reception area and multiple separate office or client rooms
- Cathedral ceilings and several skylights provide abundant natural light
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
$18,675
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
9.11%
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%
$373,500
$373.5K
Cap Rate 7%
$266,786
$266.8K
Cap Rate 9%
$207,500
$207.5K
Market Conditions
NOI Build-Up for 2,490 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
$37.4K $15.00/SF
− Vacancy
−$7.5K −$3.00/SF
EGI
$29.9K $12.00/SF
− OpEx
−$11.2K −$4.50/SF
NOI
$18.7K $7.50/SF
Area
Mahoning County, OH
Vacancy
20.00%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
37.50%
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%
$373,500
Cap Rate 7%
$266,786
Cap Rate 9%
$207,500
Alternative Uses
Best Use
Office B
$340.6K
$298.1K – $397.4K
NOI $23,844 @ 7.0% cap · market cap 11.63%
Second Best
Mixed Use
$266.8K
$233.4K – $311.3K
NOI $18,675 @ 7.0% cap · market cap 9.11%
Theoretical Best
Office A
$469.9K
$411.2K – $548.2K
NOI $32,892 @ 7.0% cap · market cap 16.04%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,204
Businesses Nearby
Explore this area
Business Placement
Demographics for 44512, OH
33,282
Population
15,770
Households
2.1
Avg Household Size
44
Median Age
35%
College-Educated
94%
High-School Grad
17.0 sq mi
ZIP Area
1,958
Density / Sq Mi
$62,311
Median Household Income
$38,828
Median Earnings
$788
Median Rent
$158,800
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 - Bright, flexible office condominium with multiple private rooms, two entrances, and a lower-level kitchenette.
Where is this office units located?
The property is located at H2-755 Boardman Canfield Rd Boardman, OH.
What is the asking price?
The asking price for this property is $205,000.
What are key features of this property?
This property features: 2,490‑square‑foot office condo in Boardman Southbridge Executive Park; Reception area and multiple separate office or client rooms; Cathedral ceilings and several skylights provide abundant natural light
