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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1616 Main St North Canton, OH 44709-4237

    • Garden apartment buildings
    • 40,768 SF
    • 1.33 lot acres
    OFF-MARKET
    Last Sale
    Mar 08, 2024
    $2,475,000
    Value Estimations
    $2,305,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US66-2435917
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Garden apartment buildings

    Property Details for 1616 Main St

    Year built
    1969
    Construction
    BRICK
    Lot size
    1.33 lot acres
    Property size
    40,768 SF
    Property type
    Garden apartment buildings
    APN
    94-00069
    APU
    9400069

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $2,475,000
      ML approach
      $2,475,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,796,000
      Market price range: $1.30M - $3.98M
      AI Estimate
      $1,820,000
      Market price range: $1.33M - $3.12M

    • Alternative Use

      Use
      Estimation
      APARTMENT HOUSE (5+ UNITS)
      $2,330,000
      Current use
      RETAIL STORES
      $3,520,000
      Change: +51% Conversion: Difficult
      NEIGHBORHOOD: SHOPPING CENTER
      $3,495,000
      Change: +50% Conversion: Difficult
      OFFICE BUILDING
      $3,310,000
      Change: +42% Conversion: Moderate
      COMMERCIAL (GENERAL)
      $2,445,000
      Change: +5% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    North Canton
    County
    Stark
    State
    Ohio
    Longitude
    -81.394
    Latitude
    40.8563
    CBSA code
    15940
    CBSA name
    CANTON-MASSILLON, OH METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $16,853
    $38,050
    $269,960
    $308,010
    -
    $108,700
    $771,300
    $880,000

    Comparable in this City

    • Value Estimation
      $320,000
      4,824 SF

      4120 Orch Dl NW Dr

      GARDEN APT, COURT APT (5+ UNITS) • 4,824 SF
      4120 Orch Dl NW Dr, Canton, OH 44709-2040
      View Details
    • Value Estimation
      $275,000
      5,544 SF

      2017 Fulton NW Rd

      GARDEN APT, COURT APT (5+ UNITS) • 5,544 SF
      2017 Fulton NW Rd, Canton, OH 44709-3553
      View Details
    • Value Estimation
      $590,000
      5,736 SF

      800 Everhard SW Rd

      GARDEN APT, COURT APT (5+ UNITS) • 5,736 SF
      800 Everhard SW Rd, North Canton, OH 44709-4018
      View Details
    • Value Estimation
      $325,000
      9,920 SF

      4027 Guilford NW Ave

      GARDEN APT, COURT APT (5+ UNITS) • 9,920 SF
      4027 Guilford NW Ave, Canton, OH 44709-4612
      View Details
    • Value Estimation
      $4,450,000
      46,356 SF

      820 34th NW St

      GARDEN APT, COURT APT (5+ UNITS) • 46,356 SF
      820 34th NW St, Canton, OH 44709-2966
      View Details
    • Value Estimation
      $320,000
      11,625 SF

      2701 Harrison NW Ave

      GARDEN APT, COURT APT (5+ UNITS) • 11,625 SF
      2701 Harrison NW Ave, Canton, OH 44709-3445
      View Details

    Similar Nearby for Sale

    • $749,000
      20,398 SF

      20,398 SF Mixed-Use Plaza

      Mixed-use plaza with retail, office, and residential spaces.
      2729 Cleveland Ave Nw, Canton, OH 44709
      View Details
    • $349,900
      6,304 SF

      Mixed-Use Building with Retail and Apartment

      6,304 SF building with retail and apartment near highway.
      2757 Cleveland Ave Nw, Canton, OH 44709
      View Details
    • $284,900
      5,406 SF

      Canton Quadruplex Near Malone College

      Renovated quadruplex near Malone College with value-add potential.
      2413 Cleveland Ave NW, Canton, OH 44709
      View Details
    • $155,000
      3,681 SF

      Mixed-Use Property with Residential Conversion

      3,681 SF mixed-use property with retail and residential spaces.
      2519 Cleveland Ave NW, Canton, OH 44709
      View Details
    • $54,900
      0.31 Acres

      Buildable Lot in Montabella

      0.31 acre buildable lot in desirable Canton neighborhood.
      308 52Nd St NW, Canton, OH 44709
      View Details
    • $109,900
      0.15 Acres

      Tudor Commercial Building on Cleveland

      Tudor-style commercial building suitable for professional service businesses.
      2705 Cleveland Ave NW, Canton, OH 44709
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Land Lease Opportunity Available

      0.5 acre land lease opportunity in Canton, Ohio.
      1115 30Th St NW, Canton, OH 44709
      View Details
    • $12 SF/Yr
      4,325 SF

      Retail Space For Lease

      Retail space available in Canton, OH with high traffic.
      3320 Cleveland Ave NW, Canton, OH 44709
      View Details
    • $850 /Mo
      26,572 SF

      Affordable Office Space in Canton

      Office space for rent on high traffic street in Canton.
      3757 Cleveland Ave NW, Canton, OH 44709
      View Details
    • $13 SF/Yr
      48,787 SF

      Canton Office Space For Lease

      Professional office suites available in well-maintained Canton location.
      2223 Fulton Rd NW, Canton, OH 44709
      View Details
    • $5 SF/Yr
      10,765 SF

      Warehouse Space For Lease

      8,265 SF warehouse space with offices, heat, and water.
      2111 St NW, Canton, OH 44709
      View Details
    • $6 SF/Yr
      158,135 SF

      Retail Space in Canton Plaza

      Newly renovated retail space in Giant Eagle anchored shopping plaza.
      3100 Cromer Ave NW, Canton, OH 44709
      View Details
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    1616 Main St
    North Canton, OH 44709-4237
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    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
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