1664 Norton RdStow, OH 44224
- Community centers
- 36,500 SF
Property Details for 1664 Norton Rd
- Year built
- 1989
- Lot size
- 7.14 AC
- Property size (Sq ft)
- 36,500 SF
- Property type
- Community centers
- APN
- 56-16274
- APU
- 5616274
Description
This 5,000 square foot retail space, located at 1664 Norton Road in Stow, Ohio, presents a compelling investment opportunity. Situated on a 7.14-acre lot at the corner of SR-91 (Darrow Rd) and Norton Rd, this Class B property boasts a prime location at the border of Stow and Hudson. The center is anchored by a high-performing Giant Eagle grocery store, the 7th best performing out of 90 in Ohio, generating $47.7 million in annual sales and attracting 1.7 million visits annually. This strong anchor tenant ensures high foot traffic for neighboring businesses. The property features 200 parking spaces and benefits from excellent visibility and accessibility, with SR-91 seeing 20,500 vehicles per day and Norton Rd seeing 13,500. The surrounding area boasts a population of 105,668 within a 5-mile radius, with a median household income exceeding $90,000. The property is zoned C-4 and features a single, one-story building constructed in 1989. The available space totals 1,500 square feet, making it ideal for a variety of retail uses. This is a rare opportunity to establish a business in a thriving retail center with a proven track record of success. The property's APN is 5616274, and it is located in Summit County, Ohio, zip code 44224.
Valuation
by Paperhouses methods
- Valuation date:
- Dec 11, 2024
-
CAP approach
- CAP return
- Valuation
- 6%
- $10,203,954
- 6.5%
- $9,419,034
- 7%
- $8,746,246
-
Comparable approach
- Method
- Valuation
- Relative Method
- $8,603,809
- Geo Method
- $8,603,809
-
Alternative Use
- Use
- Valuation
- Residential
- $7,945,308
- Hospitality
- $7,277,860
- Educational
- $6,055,094
- Medical
- $6,263,338
- Retail
- $9,419,034
Location Insight
- City
- Stow
- County
- Summit
- State
- Ohio
- Latitude
- 41.2015
- Longitude
- -81.4364
- CBSA code
- 10420
- CBSA name
- AKRON, OH METROPOLITAN STATISTICAL AREA
Property Tax & Assessments
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
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