Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    302 N Water St Kent, OH 44240
    Back to Search
    Property profile & analytics

    302 N Water St Kent, OH 44240

    View on Map
    • Warehouses
    • 11,244 SF
    • 0.39 lot acres
    For Lease
    $12 SF/Yr
    View Listing →
    Visible Storefront on N Water For Lease
    $12 SF/Yr
    11,000 SF

    Visible Storefront on N Water

    Highly visible storefront in downtown Kent near Kent State.

    302 N Water St, Kent, OH
    View Listing
    Property ID
    US66-1604278
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Record Nations / Storage Facility

    Property Details for 302 N Water St

    Year built
    1950
    Lot size
    0.39 lot acres
    Property size
    11,244 SF
    Property type
    Warehouses
    APN
    17-025-30-00-031
    APU
    170253000031

    Description

    This exceptional 11,000 square foot industrial property, located at 302 N Water St in Kent, Portage County, offers a unique blend of warehouse and flex space. Built in 1950, this single-tenant building sits on a 0.391-acre lot and is classified as Class B. The property features a highly visible street-level storefront on a heavily traveled thoroughfare, providing excellent exposure for any business. Its convenient location within the Commercial Downtown zoning district (C-D) places it minutes from State Route 43, the heart of downtown Kent, and Kent State University. The property's single-story design maximizes efficiency and accessibility. The building's APN is 17-025-30-00-031-000. This versatile space is ideal for a variety of uses and presents a significant opportunity for businesses seeking a prominent location with ample square footage. The property is situated within the designated DORA (Designated Outdoor Refreshment Area) boundaries, adding to its appeal and potential. This is a rare opportunity to acquire a well-positioned industrial property in a thriving area. The building consists of one structure with no additional suites.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $466,000
      Market price range: $319k - $1.15M
      AI Estimate
      $335,000
      Market price range: $221k - $840k

    • Alternative Use

      Use
      Estimation
      WAREHOUSE, STORAGE
      $715,000
      Current use
      COMMERCIAL (GENERAL)
      $665,000
      Change: -7% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Kent
    County
    Portage
    State
    Ohio
    Longitude
    -81.3584
    Latitude
    41.1567
    CBSA code
    10420
    CBSA name
    AKRON, 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
    $8,049
    $28,600
    $88,240
    $116,840
    -
    $81,700
    $252,100
    $333,800

    Comparable in this City

    • Value Estimation by Request
      1.00 Acre

      Hwy Vw Dr

      MINI-WAREHOUSE, STORAGE • 1.00 Acre
      Hwy Vw Dr, Kent, OH 44240
      View Details
    • Value Estimation by Request
      11,520 SF

      1313 Middlebury Rd

      WAREHOUSE, STORAGE • 11,520 SF
      1313 Middlebury Rd, Kent, OH 44240-3381
      View Details
    • Value Estimation by Request
      7,200 SF

      2331 Ravenna

      WAREHOUSE, STORAGE • 7,200 SF
      2331 Ravenna, Kent, OH 44240
      View Details
    • Value Estimation by Request
      3,072 SF

      Smt Summit

      WAREHOUSE, STORAGE • 3,072 SF
      Smt Summit, Kent, OH 44240
      View Details
    • Value Estimation by Request
      3,308 SF

      1312 Mantua St

      WAREHOUSE, STORAGE • 3,308 SF
      1312 Mantua St, Kent, OH 44240-2332
      View Details
    • Value Estimation by Request
      6,636 SF

      277 Martinel Dr

      WAREHOUSE, STORAGE • 6,636 SF
      277 Martinel Dr, Kent, OH 44240-4376
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      91,000 SF

      91,000 SF Industrial Facility

      91,000 SF industrial facility on 15.5 acres in Kent, OH.
      9 Franklin Ave, Kent, OH 44240
      View Details
    • Contact for pricing
      10,912 SF

      Commercial Property for Sale

      Commercial property available for sale.
      222 Martinel Dr, Kent, OH 44240
      View Details
    • $850,000
      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
    • Contact for pricing
      Pending

      Kent Duplexes Near KSU

      Two duplexes near Kent State University, offered at online auction.
      1572 E Summit St, Kent, OH 44240
      View Details
    • Contact for pricing

      Land For Sale

      Land available for sale.
      4217 State Route 43, Kent, OH 44240
      View Details
    • Contact for pricing

      Land for Sale in Brimfield

      Multiple commercial lots available in Brimfield, Ohio.
      Town Square Dr, Kent, OH 44240
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Warehouse/Light Manufacturing Space Available

      12,000 SF warehouse/light manufacturing space near I-76.
      1 Holiday Dr, Kent, OH 44240
      View Details
    • $5 SF/Yr
      12,000 SF

      Kent Warehouse with Office Space

      12,000 SF warehouse with office space for lease.
      1163 Holiday Dr, Kent, OH 44240
      View Details
    • Contact for pricing

      Retail Pad Site For Rent

      Highly visible retail pad site in Kent Acme Plaza.
      1709 State Route 59, Kent, OH 44240
      View Details
    • Contact for pricing

      Commercial Space For Lease

      Commercial space available for lease in Kent, Ohio.
      4217 State Route 43, Kent, OH 44240
      View Details
    • Contact for pricing
      3,000 SF

      Office Buildings on State Route

      Two office buildings with vacancies on a high-traffic road.
      1949-1951 State Route 59, Kent, OH 44240
      View Details
    • Contact for pricing
      2,371 SF

      Mixed-Use Development in Kent, OH

      Mixed-use development with retail, restaurants, hotel, office, and residential.
      220 S Depeyster St, Kent, OH 44240
      View Details
    View Listing
    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.
    302 N Water St
    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
    302 N Water St, 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!