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    3535 S Smith Rd Fairlawn, OH 44333
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    Property profile & analytics

    3535 S Smith Rd Fairlawn, OH 44333

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    • Medical Office Space
    • 8,468 SF
    • 0.91 lot acres
    For Lease
    $720,000
    View Listing →
    Professional Office Space For Rent For Lease
    $720,000
    2,000 SF

    Professional Office Space For Rent

    Well-located 2,000 SF office space in a desirable area.

    3535 S Smith Rd, Fairlawn, OH 44333
    View Listing
    Property ID
    US66-5250963
    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

    • Medical Office Space

    Property Details for 3535 S Smith Rd

    Year built
    1982
    Construction
    FRAME
    Lot size
    0.91 lot acres
    Property size
    8,468 SF
    Property type
    Medical Office Space
    Property subtype
    Medical centers
    APN
    09-04129
    APU
    904129

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $731,000
      Market price range: $450k - $1.31M
      AI Estimate
      $464,000
      Market price range: $208k - $1.10M

    • Alternative Use

      Use
      Estimation
      MEDICAL BUILDING
      $925,000
      Current use
      RESTAURANT
      $900,000
      Change: -3% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $845,000
      Change: -9% Conversion: Difficult
      OFFICE BUILDING
      $810,000
      Change: -12% Conversion: Easy
      NEIGHBORHOOD: SHOPPING CENTER
      $790,000
      Change: -14% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Fairlawn
    County
    Summit
    State
    Ohio
    Longitude
    -81.6264
    Latitude
    41.1343
    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
    $13,238
    $63,870
    $169,090
    $232,960
    -
    $182,480
    $483,110
    $665,590

    Comparable in this City

    • Value Estimation
      $11,210,000
      91,268 SF

      3975 Embassy Pkwy

      MEDICAL BUILDING • 91,268 SF
      3975 Embassy Pkwy, Akron, OH 44333-8320
      View Details
    • Value Estimation
      $2,595,000
      15,740 SF

      605 Cleveland Massillon Rd

      MEDICAL BUILDING • 15,740 SF
      605 Cleveland Massillon Rd, Akron, OH 44333-2200
      View Details
    • Value Estimation by Request
      2,180 SF

      1735 Cleveland Massillon Rd

      MEDICAL BUILDING • 2,180 SF
      1735 Cleveland Massillon Rd, Akron, OH 44333
      View Details
    • Value Estimation
      $2,030,000
      23,760 SF

      2660 Market St

      MEDICAL BUILDING • 23,760 SF
      2660 Market St, Fairlawn, OH 44333-4208
      View Details
    • Value Estimation
      $1,195,000
      14,596 SF

      2651 Market St

      MEDICAL BUILDING • 14,596 SF
      2651 Market St, Fairlawn, OH 44333-4200
      View Details
    • Value Estimation
      $550,000
      4,446 SF

      799 Wye Rd

      MEDICAL BUILDING • 4,446 SF
      799 Wye Rd, Akron, OH 44333-2268
      View Details

    Similar Nearby for Sale

    • $424,000

      Fairlawn Office/Medical District Opportunity

      Office/medical building in Fairlawn, Ohio with seller financing available.
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    • $1,250,000
      10,560 SF

      Prime Montrose Office Space

      Exceptional office building in the desirable Montrose business district.
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    • $199,900
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      Fairlawn Medical Office Suite

      Functional medical office with great visibility and natural light.
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    • Contact for pricing

      Office Condo on Two Levels

      5,458 SF office condo ideal for owner-occupant or investor.
      302 N Cleveland Massillon Rd, Akron, OH 44333
      View Details
    • Contact for pricing
      24,600 SF

      Office Building in Akron, OH

      Office building with 24,600 square feet of space.
      1070 Ghent Rd, Akron, OH 44333
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    • Contact for pricing
      1,600 SF

      Fairlawn Office Suites For Lease

      Lower level office suites in central Fairlawn area.
      55 S Miller Rd, Akron, OH 44333
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      17,568 SF

      Office Building Sublease Opportunity

      Flexible office space available for sublease near I-77.
      325 Springside Dr, Akron, OH 44333
      View Details
    • $2,755 /Mo
      Pending

      Fairlawn Office Space For Lease

      Office suites available in a well-maintained building with high visibility.
      70 N Miller Rd, Fairlawn, OH 44333
      View Details
    • $3,350 /Mo
      17,001 SF

      Fairlawn Office Space For Lease

      Flexible office suites available in a prime Fairlawn location.
      70 N Miller Rd, Fairlawn, OH 44333
      View Details
    • Contact for pricing

      West Market Corridor Office Space

      Class A office spaces with highway and amenity access.
      3200 West Market St, Akron, OH 44333
      View Details
    • $2,958 /Mo
      1,608 SF

      First Floor Office Suite

      Office suite with private entrance and highway access.
      3631 Brookwall Dr, Fairlawn, OH 44333
      View Details
    • Contact for pricing
      3,000 SF

      Remodeled Office Space Available

      Recently remodeled office space with updated lobby and high-end finishes.
      2640 W Market St, Akron, OH 44333
      View Details
    View Listing
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    Fairlawn, OH 44333
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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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