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

    2929 Cleveland Ave Canton, OH 44707

    • Drive through restaurants
    • 3,645 SF
    • 0.54 lot acres
    For Lease
    View listing
    Value Estimations
    $370,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US66-5333167
    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

    • Gionino's Pizzeria / Caterer / Pizza Restaurant

    Property Details for 2929 Cleveland Ave

    Year built
    1982
    Construction
    BRICK
    Lot size
    0.54 lot acres
    Property size
    3,645 SF
    Property type
    Drive through restaurants
    APN
    10-010096
    APU
    10010096

    Description

    This freestanding commercial property, located at 2929 Cleveland Avenue SW in Canton, Ohio, offers 3,603 total square feet on a 0.55-acre lot. Currently featuring one suite, 1,591 square feet are vacant and ready for immediate occupancy. The building underwent renovations in 2020. Situated on a major South Canton thoroughfare, this property benefits from excellent visibility and accessibility. Its convenient location provides easy access to I-77, placing it within a short distance of Belden Village (9 miles) and serving communities extending south to New Philadelphia. The property's proximity to Canton South High School (within one mile), which serves 856 students, and major employers such as Aultman, Timken Company, Mercy Medical Center, Fisher Foods, General Electric, Diebold, and Chesapeake Energy Headquarters, makes it an attractive investment opportunity. The property's former use as a restaurant suggests a variety of potential uses for the available space. This is a prime opportunity for businesses seeking high visibility and convenient access to a substantial customer base in a thriving area of Stark County. The property is zoned for commercial use.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $280,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $462,000
      Market price range: $143k - $685k

    • Alternative Use

      Use
      Estimation
      RESTAURANT
      $415,000
      Current use
      AUTO REPAIR, GARAGE
      $385,000
      Change: -7% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Canton
    County
    Stark
    State
    Ohio
    Longitude
    -81.3822
    Latitude
    40.7654
    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
    $5,957
    $37,240
    $64,160
    $101,400
    -
    $106,400
    $183,300
    $289,700

    Comparable in this City

    • Value Estimation
      $315,000
      2,882 SF

      2543 Cleveland SW Ave

      DRIVE-THRU RESTAURANT, FAST FOOD • 2,882 SF
      2543 Cleveland SW Ave, Canton, OH 44707-3648
      View Details
    • Value Estimation
      $510,000
      1,296 SF

      3001 Cleveland SW Ave

      DRIVE-THRU RESTAURANT, FAST FOOD • 1,296 SF
      3001 Cleveland SW Ave, Canton, OH 44707
      View Details
    • Value Estimation
      $325,000
      2,454 SF

      2536 Cleveland SW Ave

      DRIVE-THRU RESTAURANT, FAST FOOD • 2,454 SF
      2536 Cleveland SW Ave, Canton, OH 44707-3651
      View Details
    • Value Estimation
      $340,000
      1,972 SF

      2644 Cleveland SW Ave

      DRIVE-THRU RESTAURANT, FAST FOOD • 1,972 SF
      2644 Cleveland SW Ave, Canton, OH 44707-3647
      View Details
    • Value Estimation
      $305,000
      3,648 SF

      3645 Cleveland S Ave

      DRIVE-THRU RESTAURANT, FAST FOOD • 3,648 SF
      3645 Cleveland S Ave, Canton, OH 44707-1447
      View Details
    • Value Estimation
      $245,000
      1,570 SF

      3655 Cleveland S Ave

      DRIVE-THRU RESTAURANT, FAST FOOD • 1,570 SF
      3655 Cleveland S Ave, Canton, OH 44707-1447
      View Details

    Similar Nearby for Sale

    • $249,000
      10,056 SF

      Mixed-Use Property with Redevelopment Potential

      Vacant multi-use property with office, warehouse, and bar spaces.
      407 High Ave SW, Canton, OH 44707
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    • $449,900
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      Canton Bar & Restaurant for Sale

      Thriving business, fully remodeled.
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    • $379,900
      1.42 Acres

      Thriving Bar and Restaurant on 1.42 Acres

      Bar and restaurant with drive-up, real estate, licenses included.
      2521 Waynesburg Dr SE, Canton, OH 44707
      View Details
    • $98,000
      1,408 SF

      901 Market Ave S

      Individual retail properties • 1,408 SF
      901 Market Ave, Canton, OH 44707
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    • $174,900
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      Updated Mixed-Use Building For Sale

      Mixed-use building with updated retail and office spaces.
      2627 Waynesburg Dr SE, Canton, OH 44707
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    • $209,900
      4,602 SF

      Canton Mixed-Use Investment Opportunity

      Updated Retail & Apartment Building
      2627 Waynesburg Dr, Canton, OH 44707
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      1,275 SF

      Neighborhood Shopping Center Space

      Service-oriented shopping center with diverse co-tenants and convenient access.
      3001-3049 Cleveland Ave Southwest, Canton, OH 44707
      View Details
    • Contact for pricing
      3,603 SF

      Canton Retail Space - High Visibility

      High-traffic location, 1,591 sq ft available.
      2929 Cleveland Ave, Canton, OH 44707
      View Details
    • $17 SF/Yr
      11,157 SF

      Former Rite Aid Available

      Freestanding retail building in a high-traffic location.
      4042 Cleveland Ave S, Canton, OH 44707
      View Details
    • $12 SF/Yr
      2,264 SF

      Retail Unit For Lease

      2264 sq ft multi-use retail unit available for lease.
      4403 Cleveland Ave Nw, Canton, OH 44707
      View Details
    • Contact for pricing
      130,433 SF

      Southgate Commons: Canton Office Space

      Prime Canton location, diverse office suites.
      3001 Cleveland Ave, Canton, OH 44707
      View Details
    • $6,500 /Mo

      Corner Lot Commercial Land Available

      Two parcels of commercial land for rent on corner lot.
      1900-1914 Tuscarawas St W, Canton, OH 44707
      View Details
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    Canton, OH 44707
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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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