754 Cleveland AveMogadore, OH 44312

  • Healthcare properties
  • 22,982 SF
For Sale
$1,150,000 View listing

Property Details for 754 Cleveland Ave

Year built
1989
Construction
FRAME
Lot size
2.02 AC
Property size (Sq ft)
22,982 SF
Property type
Healthcare properties
Property subtype
Medical offices
APN
51-09346
APU
5109346

Description

This exceptional three-story, 16,488 square foot Class B office building presents a compelling investment opportunity. Located at 754 S Cleveland Ave, Akron, OH 44312, in Summit County, this multi-tenant property boasts 90% occupancy with a diverse mix of executive, medical, and traditional office spaces across five units. Built in 1989 and extensively renovated in 2021, the property features a new water system, updated monument signage, a resurfaced parking lot, and significant LED lighting upgrades (50% of the building). The 6.47-acre lot provides ample parking. Current leases offer a strong cash flow, with an anchor tenant holding an eight-year lease and others ranging from three to six years. A vacant second-floor suite presents a value-add opportunity for increased revenue. The property benefits from a modified lease structure and is strategically situated off SR-224 in a park-like setting, bordering Portage County. The asking price is $1,150,000, translating to $69.75 per square foot. APN: 5109346

Valuation
by Paperhouses methods

Valuation date:
Dec 11, 2024
  • CAP approach

    CAP return
    Valuation
    6%
    $4,370,651
    6.5%
    $4,034,447
    7%
    $3,746,272
  • Comparable approach

    Method
    Valuation
    Relative Method
    $2,149,736
    Geo Method
    $2,149,736
  • Alternative Use

    Use
    Valuation
    Residential
    $5,002,714
    Hospitality
    $4,582,460
    Educational
    $3,812,552
    Medical
    $3,943,672
    Retail
    $5,930,637
754 Cleveland Ave, Mogadore, Ohio

Location Insight

City
Mogadore
County
Summit
State
Ohio
Latitude
41.0304
Longitude
-81.3944
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
$22,550
$37,340
$275,060
$312,400
-
$106,680
$785,890
$892,570

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