720 Highland RdMacedonia, OH 44056

  • Retail properties
  • 3.05 AC
For Lease
$6.75/SF/YR View listing

Property Details for 720 Highland Rd

Lot size
3.05 AC
Property type
Retail properties
Property subtype
Parking lots & garages
APN
33-03311
APU
3303311

Description

This exceptional 146,250-square-foot industrial complex, situated on 6.35 acres in Summit County's Southeast submarket, presents a unique investment opportunity. The property boasts a prime location with convenient access via East Highland Road and Empire Parkway. The facility comprises two buildings, each two stories high, offering a blend of office and warehouse/manufacturing space. A substantial 128,346 square feet is dedicated to warehouse and manufacturing, complemented by 17,904 square feet of office space. The high ceilings, measuring 19'6", provide ample vertical clearance. Loading and unloading are facilitated by fourteen truck docks – six internal and eight external – and eight drive-in doors of varying sizes (10'x12', 10'x18', 12'x14', and 14'x18'). The property is zoned for industrial use and features robust power infrastructure, including 6000A/480V/3P power with buss duct distribution. Manufacturing-specific amenities include shop restrooms and locker rooms, compressed air line distribution, and both 2-ton and 3-ton cranes. Ample parking is available with 100 spaces. The property's APN is 33-03312, 33-03311. This well-maintained facility offers significant potential for a variety of manufacturing and industrial operations. The single-tenant occupancy provides stability and ease of management. This is a rare opportunity to acquire a substantial, well-equipped industrial property in a desirable location.

Valuation
by Paperhouses methods

Valuation date:
Dec 11, 2024
  • CAP approach

    CAP return
    Valuation
    6%
    $37,190,476
    6.5%
    $34,329,672
    7%
    $31,877,552
  • Comparable approach

    Method
    Valuation
    Relative Method
    $31,358,410
    Geo Method
    $31,358,410
  • Alternative Use

    Use
    Valuation
    Residential
    $28,958,362
    Hospitality
    $26,525,704
    Educational
    $22,069,074
    Medical
    $22,828,064
    Retail
    $34,329,672
720 Highland Rd, Macedonia, Ohio

Location Insight

City
Macedonia
County
Summit
State
Ohio
Latitude
41.2982
Longitude
-81.5
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
$6,593
$85,500
$18,620
$104,120
-
$244,280
$53,210
$297,490

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?
Please email our support team at [email protected] and they will add the team member.
How do I access a private listing?
Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.
How can I contact the broker?
We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.
How do I unsubscribe from emails?
At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].