Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    498 South Ave Tallmadge, OH 44278
    Back to Search
    Property profile & analytics

    498 South Ave, Tallmadge, OH 44278

    View on Map
    • Retail properties & Spaces
    • 8,242 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Life Style Staffing - Tallmadge, Ohio / Employment Agency
    • 2nd Chances Tattoo Studio / Tattoo & Piercing Shop
    • In Home Care Inc / Home Health Care Service
    • Death Star Headshop & Tattoo co. / Tattoo & Piercing Shop
    • Sammie's Bar and Grill / Bar & Pub / Restaurant

    Property Details for 498 South Ave

    Property type
    Retail properties & Spaces
    Property subtype
    Office Spaces

    Description

    This exceptional property at 498 South Ave, Tallmadge, offers a rare opportunity to lease pristine, highly visible office space. Located in Summit County, this 8,242 square foot building features a flexible layout ideal for multiple tenants or a single large occupant. Currently, there are approximately 3,837 square feet of vacant space available, divisible into units ranging from 1,912 to 1,925 contiguous square feet. Two separate office suites, each roughly 1,925 square feet, are available for lease. Each suite boasts private entrances, convenient kitchenettes, a reception area, and eight or more private offices. The building sits on a generous 1.6-acre lot, ensuring ample parking and visibility. The property's classification includes both retail and office space, making it suitable for a variety of businesses. All utilities are included in the lease, simplifying budgeting and management. The building's excellent condition and prominent location make it an attractive option for businesses seeking a professional and convenient workspace. The flexible space allows for customization to meet specific business needs, while the included amenities enhance the overall functionality and appeal. This is a truly exceptional opportunity to secure high-quality office space in a desirable location. Contact us today to schedule a viewing and explore the possibilities.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Tallmadge
    County
    Summit
    State
    Ohio
    Longitude
    -81.4422
    Latitude
    41.0873

    Comparable in this City

    • Value Estimation by Request
      0.93 Acres

      169 East Ave

      Land
      169 East Ave, Tallmadge, OH 44278
      View Details
    • Value Estimation by Request

      50 Southeast Ave

      Office Spaces
      50 Southeast Ave, Tallmadge, OH 44278
      View Details
    • Value Estimation by Request
      0.93 Acres

      169 East Ave

      Land
      169 East Ave, Tallmadge, OH 44278
      View Details
    • Value Estimation by Request
      16,161 SF

      50 Southeast Ave

      Office Spaces
      50 Southeast Ave, Tallmadge, OH 44278
      View Details
    • Value Estimation by Request
      28,260 SF

      296-298 West Ave

      Individual retail properties
      296-298 West Ave, Tallmadge, OH 44278
      View Details
    • Value Estimation by Request
      10,540 SF

      341 West Ave

      Individual retail properties
      341 West Ave, Tallmadge, OH 44278
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Drive-In Restaurant with Ample Parking

      Drive-in restaurant with equipment and parking for sale.
      35 West Ave, Tallmadge, OH 44278
      View Details
    • Contact for pricing
      1,068 SF

      Drive-In Restaurant with Business Included

      Drive-in restaurant with business, ready to open, development opportunity.
      35 West Ave, Tallmadge, OH 44278
      View Details
    • Contact for pricing
      2,998 SF

      Well-Maintained Office Space Available

      Office space for rent in great condition with ample parking.
      10 Ave NW, Tallmadge, OH 44278
      View Details
    • Contact for pricing
      4,039 SF

      Well-Maintained Office Building For Sale

      4,039 SF office building in Tallmadge, ideal for owner/user.
      541 West Ave, Tallmadge, OH 44278
      View Details
    • New
      Contact for pricing

      Corner Lot with Auto Shop Building

      High-visibility corner lot with a 2,871 SF former auto repair building, suited for renovation or redevelopment.
      741 Eastwood Ave, Tallmadge, OH 44278
      View Details

    Similar Nearby for Lease

    • $28 SF/Yr
      168 SF

      Tallmadge Executive Office Condo

      Prime Tallmadge office, 2,998 sq ft.
      10 Northwest Ave, Tallmadge, OH 44278
      View Details
    • Contact for pricing

      Endcap Retail Suite

      Endcap retail space in a shopping center anchored by Acme Fresh Market with national tenants nearby.
      574-622 South Ave, Tallmadge, OH 44278
      View Details
    • $6 SF/Yr

      Tallmadge Industrial Flex Unit

      4,000 SF flex unit with warehouse and office space.
      391 Geneva Ave, Tallmadge, OH 44278
      View Details
    • Contact for pricing
      4,000 SF

      Warehouse with Office and Flex

      Warehouse space with office, dock door, and flex unit.
      391-395 Geneva Ave, Tallmadge, OH 44278
      View Details
    • Contact for pricing

      Tallmadge Flex/Industrial/Office Space Available

      Flex, industrial, and office spaces for lease in Tallmadge.
      275-277 Southwest Ave, Tallmadge, OH 44278
      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.
    498 South Ave
    Tallmadge, OH 44278
    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
    498 South Ave, Tallmadge, OH, 44278
    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!