1410 Water StKent, OH 44240

  • Retail properties
  • 74,699 SF
For Lease
$9.50/SF/YR View listing

Property Details for 1410 Water St

Year built
1956
Lot size
15.29 AC
Property size (Sq ft)
74,699 SF
Property type
Retail properties
Property subtype
Community centers
APN
17-006-00-00-020
APU
170060000020

Description

University Plaza, a vibrant 129,714 square foot community center, presents a unique investment opportunity in Kent, Ohio. This single-story, multi-tenant property boasts a prime location at the intersection of South Water and Cherry Streets, a high-traffic corridor with over 21,000 vehicles passing daily. The property features a diverse mix of retail, office, and restaurant tenants, creating a synergistic environment. With 21 suites ranging from 633 to 18,018 contiguous square feet, there's flexibility to accommodate various business needs. The 15.29-acre lot provides ample space and four convenient ingress/egress points for easy access. Benefit from below-market rental rates and the strong draw of Kent State University, with its 33,000 students located nearby. The available 18,000 square foot junior anchor space includes loading docks, ideal for businesses requiring efficient logistics. This high-volume retail area serves a large population across Portage County, ensuring a robust customer base. The property is zoned commercial and has an APN of 17-006-00-00-020. This is an exceptional opportunity to acquire a well-positioned property in a thriving market.

Valuation
by Paperhouses methods

Valuation date:
Dec 11, 2024
  • CAP approach

    CAP return
    Valuation
    6%
    $20,882,880
    6.5%
    $19,276,506
    7%
    $17,899,612
  • Comparable approach

    Method
    Valuation
    Relative Method
    $17,608,108
    Geo Method
    $17,608,108
  • Alternative Use

    Use
    Valuation
    Residential
    $16,260,454
    Hospitality
    $14,894,488
    Educational
    $12,392,039
    Medical
    $12,818,220
    Retail
    $19,276,506
1410 Water St, Kent, Ohio

Location Insight

City
Kent
County
Portage
State
Ohio
Latitude
41.1408
Longitude
-81.3577
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
$84,286
$234,780
$988,750
$1,223,530
-
$670,800
$2,825,000
$3,495,800

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].