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

    4014 Medina Rd Montrose, OH 44333

    • Commercial real estate
    • 94,765 SF
    • 12.87 lot acres
    For Lease
    View listing
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US66-2817016
    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

    • 4IRSHM LLC / Factory / Industrial Manufacturer
    • Carrington Financials / Insurance Agency
    • Alan Store / Carpet & Flooring Store / Hardware & Home Improvement
    • DXL Big + Tall / Clothing & Fashion Store
    • Staples Travel Services / (Bike/Boat/Book/etc) Store

    Property Details for 4014 Medina Rd

    Year built
    1988
    Lot size
    12.87 lot acres
    Property size
    94,765 SF
    Property type
    Commercial real estate
    APN
    15-07109
    APU
    1507109

    Description

    Market Square at Montrose is a premier 517,788 square foot super-regional power center strategically located in Fairlawn, Ohio. This exceptional property boasts a prime location directly off Interstate 77 at the Medina Road (SR 18) interchange, ensuring high visibility and accessibility. Situated on a 2.79-acre lot, the center benefits from its position within a top-performing retail and restaurant market in Northeast Ohio, drawing customers from Summit County and parts of Medina and Cuyahoga counties. The center features a diverse mix of national and regional tenants, including JCPenney, Dick's Sporting Goods, The Home Depot, DXL, Cost Plus World Market, and Staples, creating a strong synergistic environment. Currently, there are two available spaces: one measuring 20,494 square feet and another at 17,018 square feet, presenting excellent opportunities for businesses seeking high-traffic locations within a thriving retail hub. The multiple-tenancy structure provides a dynamic and established retail environment. This property offers significant potential for growth and profitability within a well-established and densely populated market. The available spaces are ideal for a variety of retail uses, capitalizing on the significant foot traffic generated by the existing anchor tenants.

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $16,700,000
      6.5%
      $15,420,000
      7%
      $14,315,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $9,652,000
      Market price range: $2.81M - $11.4M
      AI Estimate
      $15,166,000
      Market price range: $4.06M - $17.3M

    • Alternative Use

      Use
      Estimation
      MEDICAL BUILDING
      $10,335,000
      RESTAURANT
      $10,055,000
      AUTO REPAIR, GARAGE
      $9,450,000
      OFFICE BUILDING
      $9,085,000
      NEIGHBORHOOD: SHOPPING CENTER
      $8,860,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Akron
    County
    Summit
    State
    Ohio
    Longitude
    -81.6423
    Latitude
    41.1319
    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
    $392,708
    $1,450,240
    $4,007,630
    $5,457,870
    -
    $4,143,530
    $11,450,360
    $15,593,890

    Comparable in this City

    • Value Estimation by Request
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      360 SF

      451 Cleveland Massillon Rd

      COMMERCIAL (GENERAL) • 360 SF
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      Ghent Rd

      COMMERCIAL (GENERAL) • 94,876 SF
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      5.98 Acres

      357 Cleveland Massillon Rd

      COMMERCIAL (GENERAL) • 5.98 Acres
      357 Cleveland Massillon Rd, Fairlawn, OH 44333
      View Details
    • Value Estimation by Request
      1,539 SF

      2368 Cleveland Massillon Rd

      COMMERCIAL (GENERAL) • 1,539 SF
      2368 Cleveland Massillon Rd, Akron, OH 44333-1253
      View Details

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    Similar Nearby for Lease

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      517,788 SF

      Market Square at Montrose Retail Center

      High-traffic Fairlawn, OH power center
      4014 Medina Rd, Montrose, OH 44333
      View Details
    • $3,200 /Mo
      4,604 SF

      Class A Office Condominium

      Premier Fairlawn office space for lease or purchase.
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      West Market Corridor Office Space

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    4014 Medina Rd
    Montrose, 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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