Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    1850 Oh-59 Kent Ohio 44240 Kent, OH 44240
    Back to Search
    Property profile & analytics

    1850 Oh-59 Kent Ohio 44240, Kent, OH 44240

    View on Map
    • Retail properties & Spaces
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Retail properties & Spaces

    Property Details for 1850 Oh-59 Kent Ohio 44240

    Property type
    Retail properties & Spaces
    Property subtype
    Retail space

    Description

    This exceptional 16,516 square foot freestanding retail building is ideally situated at 1850 OH-59 in Kent, Ohio, within Portage County. Boasting excellent visibility and frontage along SR 59, this property offers significant advantages for businesses seeking high traffic exposure. The building's prominent pylon signage ensures maximum brand recognition, while the ample surface parking provides convenient access for customers. The property is currently available for sale or lease, presenting a unique opportunity for a variety of retail uses, particularly well-suited for a pharmacy or drug store given its previous use and storefront design. The address is precisely 1850 OH-59, Kent, Ohio 44240, with GPS coordinates of 41.155108412419494 latitude and -81.3259824599732 longitude. This location offers easy access for customers and employees alike. The building's size and prominent location make it an attractive proposition for businesses looking to establish a strong presence in the Kent market. Serious inquiries are encouraged to explore this exceptional retail opportunity further.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Kent
    County
    Portage
    State
    Ohio
    Longitude
    -81.326
    Latitude
    41.1551

    Comparable in this City

    • Value Estimation by Request
      1,600 SF

      4574 Oh-43

      Individual retail properties
      4574 Oh-43, Kent, OH 44240
      View Details
    • Value Estimation by Request
      804 SF

      1145 Howe Rd

      DRUG STORE, PHARMACY
      1145 Howe Rd, Kent, OH 44240-7339
      View Details
    • Value Estimation by Request
      1,332 SF

      1501 Fairchild Ave

      DRUG STORE, PHARMACY
      1501 Fairchild Ave, Kent, OH 44240-1819
      View Details
    • Value Estimation
      $1,130,000
      13,515 SF

      500 Water St

      DRUG STORE, PHARMACY
      500 Water St, Kent, OH 44240-3548
      View Details
    • Value Estimation by Request
      1,164 SF

      1354 Brimfield Dr

      DRUG STORE, PHARMACY
      1354 Brimfield Dr, Kent, OH 44240-6942
      View Details
    • Value Estimation
      $1,250,000
      14,936 SF

      320 Water St

      DRUG STORE, PHARMACY
      320 Water St, Kent, OH 44240-3528
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      3,992 SF

      Kent Mixed-Use Redevelopment Opportunity

      Landmark Kent property with redevelopment potential near downtown and KSU.
      103 Lake St, Kent, OH 44240
      View Details
    • $850,000
      3,992 SF

      Kent Landmark Mixed-Use Property

      Mixed-use property with retail, apartments, and redevelopment potential.
      103 Lake St, Kent, OH 44240
      View Details
    • $1,100,000
      4,430 SF

      Established Restaurant with Loyal Clientele

      Long-standing restaurant with a strong reputation and loyal customer base.
      1609 E Main St, Kent, OH 44240
      View Details
    • Contact for pricing
      3,992 SF

      Kent Landmark Mixed-Use Property

      Mixed-use property with retail, apartments, and redevelopment potential.
      103 Lake St, Kent, OH 44240
      View Details
    • Contact for pricing
      5,000 SF

      Retail Property on 5.08 Acres

      7,765 SF retail building on 5.08 acres for sale.
      2108 State Route 59, Kent, OH 44240
      View Details
    • Contact for pricing
      1,510 SF

      Versatile Commercial Land Near I-76

      Integrated commercial land suitable for retail, office, or residential development.
      136 Tallmadge Rd, Kent, OH 44240
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      11,000 SF

      Visible Storefront on N Water

      Highly visible storefront in downtown Kent near Kent State.
      302 N Water St, Kent, OH 44240
      View Details
    • Contact for pricing
      2,330 SF

      Retail Spaces in Kent, Ohio

      Multiple retail spaces available in Kent, Ohio shopping center.
      3975 Cascades Blvd, Kent, OH 44240
      View Details
    • Contact for pricing
      7,895 SF

      Retail/Office Space Near Kent State

      Retail or office space near Kent State University.
      1830 E Main St, Kent, OH 44240
      View Details
    • Contact for pricing
      8,670 SF

      Downtown Kent Retail Opportunity

      Retail space in the heart of Downtown Kent.
      101 East Main St, Kent, OH 44240
      View Details
    • Contact for pricing
      1,164 SF

      Retail Space Near Kent State

      Retail space with high visibility and ample parking available for lease.
      1709 E Main St, Kent, OH 44240
      View Details
    • Contact for pricing
      2,080 SF

      Retail Spaces Available in Kent

      Three retail spaces available near Kent State University campus.
      2594 State Route 59, Kent, OH 44240
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    1850 Oh-59 Kent Ohio 44240
    Kent, OH 44240
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    1850 Oh-59 Kent Ohio 44240, Kent, OH, 44240
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!