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    Property profile & analytics

    4090 Erie Ave Massillon, OH 44647

    • Auto shops
    • 4,135 SF
    • 0.85 lot acres
    For Lease
    View listing
    Last Sale
    Mar 22, 2023
    $285,000
    Value Estimations
    $360,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US66-1867197
    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

    • 40 Corners Automotive LLP / Auto Repair Shop
    • Mike's Drive Thru / Takeout Restaurant

    Property Details for 4090 Erie Ave

    Year built
    1957
    Construction
    BRICK
    Lot size
    0.85 lot acres
    Property size
    4,135 SF
    Property type
    Auto shops
    APN
    16-00030
    APU
    1600030

    Description

    This 4,135 square foot retail property in Massillon, Ohio, offers a fantastic opportunity for businesses seeking flexible space options in a high-traffic location. Situated at the busy intersection of Erie Avenue NW and Route 236, this property boasts excellent visibility and convenient access to Canal Fulton and Route 21. The building, previously occupied by a beverage drive-thru and automotive shop, presents endless possibilities for various commercial ventures. Currently, the entire 4,135 square foot space is available for lease. However, the owner is open to dividing the space into two separate units: a 2,704 square foot area (formerly an automotive shop) featuring five bays, three overhead doors, and a twin-post in-ground side-by-side lift

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $315,000
      ML approach
      $280,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $499,000
      Market price range: $172k - $500k

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

    Location Insight

    • Map
    • Local Demand
    City
    Massillon
    County
    Stark
    State
    Ohio
    Longitude
    -81.5221
    Latitude
    40.8411
    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
    $3,844
    $33,990
    $31,780
    $65,770
    -
    $97,100
    $90,800
    $187,900

    Comparable in this City

    • Value Estimation
      $275,000
      1.39 Acres

      Finefrock SW Rd

      AUTO REPAIR, GARAGE • 1.39 Acres
      Finefrock SW Rd, Massillon, OH 44647
      View Details
    • Value Estimation
      $225,000
      1,140 SF

      370 Mark Ross SW Ave

      AUTO REPAIR, GARAGE • 1,140 SF
      370 Mark Ross SW Ave, Massillon, OH 44647-7964
      View Details
    • Value Estimation
      $235,000
      3,329 SF

      1697 Deermont NW Ave

      AUTO REPAIR, GARAGE • 3,329 SF
      1697 Deermont NW Ave, Massillon, OH 44647-9651
      View Details
    • Value Estimation
      $230,000
      3,307 SF

      304 1st NW St

      AUTO REPAIR, GARAGE • 3,307 SF
      304 1st NW St, Massillon, OH 44647
      View Details
    • Value Estimation
      $65,000
      1,176 SF

      723 Lincoln NW Way

      AUTO REPAIR, GARAGE • 1,176 SF
      723 Lincoln NW Way, Massillon, OH 44647-5403
      View Details
    • Value Estimation
      $295,000
      8,920 SF

      1955 Riverside NW Dr

      AUTO REPAIR, GARAGE • 8,920 SF
      1955 Riverside NW Dr, Massillon, OH 44647-9300
      View Details

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    Similar Nearby for Lease

    • $5 SF/Yr
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      Massillon Retail Space For Lease

      Prime Retail Location, 2,500 SF Available
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    • $3,500 /Mo
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      9,583 SF

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    • Contact for pricing
      4,135 SF

      Massillon Retail Space for Lease

      Prime retail space, flexible layouts available.
      4090 Erie Ave, Massillon, OH 44647
      View Details
    • $9 SF/Yr
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      Freestanding Retail Building on Main

      5,500 SF brick building with ample parking available for lease.
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      View Details
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    Massillon, OH 44647
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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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