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

    4042 Cleveland Ave S Canton, OH 44707

    • Retail space
    • 10,886 SF
    • 2.31 lot acres
    For Lease
    View listing
    $17 SF/Yr
    Last Sale
    May 04, 2022
    $5,085,000
    Value Estimations
    $5,130,000
    Cap Rate Potential
    3.8%
    Retail space
    Location Intelligence
    Property ID
    US66-4521000
    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

    • Rite Aid / Drug Store / Beauty Supply Store
    • Rite Aid Photo / Photo Lab
    • Coinhub Bitcoin ATM Teller / Atm
    • Daniel Krinsky / Pharmacy
    • higi / Health Consultant

    Property Details for 4042 Cleveland Ave S

    Year built
    2015
    Construction
    FRAME
    Lot size
    2.31 lot acres
    Property size
    10,886 SF
    Property type
    Retail space
    APN
    10-007056
    APU
    10007056

    Description

    This exceptional Class A retail property, located at 4042 Cleveland Ave SW in Canton, Ohio, presents a unique investment opportunity. The 11,115 square foot freestanding building sits on a 2.31-acre lot and enjoys a highly desirable location, serving as a gateway to the town and situated directly across from the high school. Its previous use as a Rite Aid pharmacy provides a strong foundation for a variety of retail or office uses. The building is currently vacant, offering immediate occupancy for a new tenant. The property's single-tenancy structure simplifies management and provides a clear, straightforward investment. The address is 4042 Cleveland Ave SW, Canton, OH 44707, with a convenient cross street of Faircrest St SW. The property's size and location make it ideal for a wide range of businesses seeking high visibility and accessibility. This is a rare opportunity to acquire a substantial, well-located commercial property in a thriving community. The property's classification as Class A signifies its high-quality construction and features. The ample lot size offers potential for expansion or additional development. Don't miss this chance to secure a prime commercial space in a high-traffic area.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $5,205,000
      ML approach
      $5,155,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Canton
    County
    Stark
    State
    Ohio
    Longitude
    -81.3737
    Latitude
    40.7507
    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
    $80,434
    $133,530
    $1,248,980
    $1,382,510
    -
    $381,500
    $3,568,500
    $3,950,000

    Comparable in this City

    • Value Estimation by Request
      5,712 SF

      1310 Tuscarawas E St

      RETAIL STORES (PERSONAL SERVICES) • 5,712 SF
      1310 Tuscarawas E St, Canton, OH 44707-3114
      View Details
    • Value Estimation
      $1,090,000
      11,052 SF

      2906 Cleveland S Ave

      RETAIL STORES (PERSONAL SERVICES) • 11,052 SF
      2906 Cleveland S Ave, Canton, OH 44707-3624
      View Details
    • Value Estimation by Request
      3,864 SF

      3666 Cleveland S Ave

      RETAIL STORES (PERSONAL SERVICES) • 3,864 SF
      3666 Cleveland S Ave, Canton, OH 44707-1465
      View Details
    • Value Estimation
      $690,000
      6,845 SF

      2603 Cleveland SW Ave

      RETAIL STORES (PERSONAL SERVICES) • 6,845 SF
      2603 Cleveland SW Ave, Canton, OH 44707-3645
      View Details
    • Value Estimation
      $595,000
      8,100 SF

      2815 Cleveland S Ave

      RETAIL STORES (PERSONAL SERVICES) • 8,100 SF
      2815 Cleveland S Ave, Canton, OH 44707-3621
      View Details
    • Value Estimation by Request
      2,610 SF

      4499 Cleveland S Ave

      RETAIL STORES (PERSONAL SERVICES) • 2,610 SF
      4499 Cleveland S Ave, Canton, OH 44707-1144
      View Details

    Similar Nearby for Sale

    • $209,900
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      Canton Mixed-Use Investment Opportunity

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    • $98,000
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      901 Market Ave S

      Individual retail properties • 1,408 SF
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    • $249,000
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      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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    • $160,000
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      Canton Retail Investment Opportunity

      Turnkey Mixed-Use Property - High ROI Potential
      1425 Tuscarawas St, 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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    • $449,900
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      Canton Bar & Restaurant for Sale

      Thriving business, fully remodeled.
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    Similar Nearby for Lease

    • $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
    • $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
    • 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
    • $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
    • $6 SF/Yr
      12,000 SF

      Canton Flex Space For Lease

      Flex space with office, restroom, and secure fenced lot.
      1900 Cleveland Ave Southwest, 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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