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    Property profile & analytics

    606 2Nd St Canton, OH 44702

    • Warehouses
    • 50,512 SF
    • 0.34 lot acres
    For Lease
    View listing
    $5 SF/Yr
    Last Sale
    May 20, 2022
    $325,000
    Value Estimations
    $335,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US66-2011280
    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

    • Warehouses

    Property Details for 606 2Nd St

    Year built
    1926
    Construction
    BRICK
    Lot size
    0.34 lot acres
    Property size
    50,512 SF
    Property type
    Warehouses
    APN
    10-013329
    APU
    10013329

    Description

    This 50,512-square-foot, four-story warehouse, formerly occupied by AEP Electric, is available for lease in downtown Canton, Ohio. The property features a single tenancy and is zoned C - Commercial Warehouse (APN: 10013329). The building boasts a variety of features including one loading dock and two drive-in doors. Power is substantial at 1600 amps, 480 volts, 3-phase. A freight elevator services all four floors. The lower level warehouse offers a 16'4" clear ceiling height and five interior docks. The second and third floors provide warehouse space with 11'6" clear ceiling heights, both accessible by freight elevator. The fourth floor is dedicated office space, also accessible via freight elevator. The building is well-maintained and offers climate control, making it suitable for a wide range of commercial uses. This prime location in Stark County, Ohio (606 2nd St SE, Canton, OH 44702) presents a unique opportunity for businesses seeking versatile and well-equipped warehouse space.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $335,000
      ML approach
      $640,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Canton
    County
    Stark
    State
    Ohio
    Longitude
    -81.3702
    Latitude
    40.7966
    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
    $8,242
    $4,380
    $101,640
    $106,020
    -
    $12,500
    $290,400
    $302,900

    Comparable in this City

    • Value Estimation by Request
      2,193 SF

      834 Walnut NE Ave

      WAREHOUSE, STORAGE • 2,193 SF
      834 Walnut NE Ave, Canton, OH 44702-1033
      View Details
    • Value Estimation
      $285,000
      4,800 SF

      420 2nd NE St

      WAREHOUSE, STORAGE • 4,800 SF
      420 2nd NE St, Canton, OH 44702-1160
      View Details
    • Value Estimation
      $235,000
      3,462 SF

      805 Ct SW Ave

      WAREHOUSE, STORAGE • 3,462 SF
      805 Ct SW Ave, Canton, OH 44702-2145
      View Details
    • Value Estimation
      $250,000
      0.07 Acres

      430 6th SE St

      WAREHOUSE, STORAGE • 0.07 Acres
      430 6th SE St, Canton, OH 44702-1158
      View Details
    • Value Estimation
      $350,000
      17,760 SF

      833 Cleveland SW Ave

      WAREHOUSE, STORAGE • 17,760 SF
      833 Cleveland SW Ave, Canton, OH 44702-2156
      View Details
    • Value Estimation
      $405,000
      73,764 SF

      435 Cleveland NW Ave

      WAREHOUSE, STORAGE • 73,764 SF
      435 Cleveland NW Ave, Canton, OH 44702-1539
      View Details

    Similar Nearby for Sale

    • $775,000
      49,944 SF

      Canton Warehouse and Showroom Space

      Former Chevrolet dealership with showroom, service bay, and warehouse.
      730 Market Ave South, Canton, OH 44702
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    • $995,000
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      Canton Warehouse: Prime Industrial Space

      83,400 SF Warehouse - $995,000
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    • $495,000
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      Industrial Building in Canton

      Three-story industrial building with dock doors and railroad access.
      732 Piedmont Ave SE, Canton, OH 44702
      View Details
    • $385,000
      Pending

      Canton Warehouse with Office Space

      Well-maintained warehouse with office space and convenient location.
      207 9Th St SW, Canton, OH 44702
      View Details
    • $480,000
      0.73 Acres

      Well-Maintained Retail/Workshop Building

      Two-story brick building with retail, workshop, and office space.
      530 Walnut Ave NE, Canton, OH 44702
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    • $239,000
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      Canton Storefront: Prime Retail Space

      Historic Canton retail building, ideal owner/user.
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    Similar Nearby for Lease

    • $5 SF/Yr
      50,512 SF

      Downtown Canton Warehouse - 50,512 SF

      Climate-controlled warehouse, ideal for various businesses.
      606 2Nd St, Canton, OH 44702
      View Details
    • $2 SF/Yr
      35,658 SF

      Industrial Building with Fenced Yard

      33,000 SF industrial building for lease with office space.
      400 Cherry Ave SE, Canton, OH 44702
      View Details
    • $14 SF/Yr
      60,297 SF

      Downtown Canton Office Space Available

      Professional office space for lease in downtown Canton.
      400 3Rd St SE, Canton, OH 44702
      View Details
    • Contact for pricing
      1,509 SF

      Retail Space in Canton, Ohio

      Retail space for rent in a vibrant Canton location.
      4322 Tuscarawas St W, Canton, OH 44702
      View Details
    • $13 SF/Yr
      6,600 SF

      Court Ave NW Office Space

      Canton Office Suites: 3,300-6,600 SF
      309 Court Ave, Canton, OH 44702
      View Details
    • $12 SF/Yr
      23,746 SF

      Office Space with Utilities Included

      Office space with easy access and included utilities for rent.
      400 Tuscarawas St W, Canton, OH 44702
      View Details
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    606 2Nd St
    Canton, OH 44702
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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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