703 South Cleveland Massillon Rd Fairlawn, OH 44333
Property profile & analytics
703 South Cleveland Massillon Rd Fairlawn, OH 44333
- Office buildings
- 48,272 SF
- 4.35 lot acres
Property ID
US66-1598504
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.
Location Intelligence
Current Use by Public Records
- Office buildings
Property Details for 703 South Cleveland Massillon Rd
- Year built
- 2007
- Lot size
- 4.35 lot acres
- Property size
- 48,272 SF
- Property type
- Office buildings
- APN
- 09-03895
- APU
- 903895
Description
This exceptional Class A office building, totaling 97,845 square feet, boasts 100% occupancy and a strong net operating income (NOI) of $1,761,210. Located in Fairlawn, Ohio, at 703 S Cleveland Massillon Rd, this fee-simple property sits on a 4.24-acre lot and features a desirable NNN lease structure, ensuring minimal landlord responsibilities. The building, constructed in 2007 and extensively renovated between 2018 and 2023, is the headquarters for ContiTech, a division of Continental AG, a globally recognized company with an investment-grade credit rating and annual revenue exceeding $44 billion. ContiTech occupies 83,416 square feet under an NNN lease with two five-year options remaining, including a 10% rent increase in the first option. The remaining 14,429 square feet is leased to LyondellBasell, another Fortune 500 company. The property includes lab space, showrooms, and executive offices, catering to a variety of business needs. The asking price is $19,900,000, representing a compelling cap rate of 8.85%. The property benefits from a highly visible hard corner location on State Route 77, experiencing high daily traffic volume. It's situated within a thriving retail corridor and enjoys proximity to major thoroughfares, offering easy access to neighboring cities. The surrounding area features a dense and affluent population, with average household incomes exceeding $130,883. The property is also strategically located within the Cleveland-Akron Combined Statistical Area (CSA), a region with a population exceeding 3.6 million. Assumable non-recourse financing is available, featuring a below-market interest rate of 4.95%, with approximately four years until maturity. This presents a unique opportunity to acquire a high-quality, income-producing asset in a prime location.
Value Estimations
based on Realmo’s proprietary methodology
-
Comparable approach
- Method
- Estimation
- Statistic Estimate
- $6,297,000
- AI Estimate
- $4,833,000
Market price range: $2.61M - $6.30MMarket price range: $1.19M - $4.83M -
Alternative Use
- Use
- Estimation
- OFFICE BUILDING
- $4,630,000 Current use
- MEDICAL BUILDING
- $5,265,000 Change: +14% Conversion: Easy
- RESTAURANT
- $5,120,000 Change: +11% Conversion: Moderate
- AUTO REPAIR, GARAGE
- $4,815,000 Change: +4% Conversion: Difficult
- NEIGHBORHOOD: SHOPPING CENTER
- $4,510,000 Change: -3% Conversion: Difficult
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Location Insight
- Map
- Local Demand
- City
- Fairlawn
- County
- Summit
- State
- Ohio
- Longitude
- -81.6384
- Latitude
- 41.1182
- 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
$216,525
$304,360
$3,505,180
$3,809,540
-
$869,600
$10,014,790
$10,884,390
