1410 Water StKent, OH 44240

Property Details for 1410 Water St

Year built

1956

Lot size

15.29 AC

Property size (Sq ft)

74,699 SF

Property type

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.

• 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

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

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