815 Copley RdAkron, OH 44320

Property Details for 815 Copley Rd

Lot size

0.27 AC

Property type

Retail properties

Property subtype

Parking lots & garages

APN

68-33288

APU

6833288

Description

This exceptional investment opportunity presents a single-tenant, net-leased Dollar Tree property situated at 815 Copley Rd, Akron, OH 44320. The 9,032 square foot building, constructed in 2016, sits on a 1.25-acre lot and boasts 100% occupancy. The property benefits from a strong location at the corner of Copley Road and Storer Avenue, providing multiple access points. The current lease, an absolute NNN agreement with a credit-rated tenant, commenced on December 31, 2016, and has a remaining term of approximately 2.1 years, with three 5-year renewal options, each including a 5% rent increase. The lease provides a stable income stream, reflected in the property's current Net Operating Income (NOI) of $112,448 and a compelling 9.25% cap rate. The asking price is $1,216,000. This represents a significant opportunity to acquire a well-located, stabilized retail asset in a densely populated market, just five minutes from downtown Akron. The property's low rent per square foot and strong tenant credit make it a compelling investment at well below replacement cost.

• CAP approach

  CAP return

  Valuation

  6%

  $3,312,232

  6.5%

  $3,057,444

  7%

  $2,839,056

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,792,820

  Geo Method

  $2,792,820

• Alternative Use

  Use

  Valuation

  Residential

  $2,579,069

  Hospitality

  $2,362,413

  Educational

  $1,965,500

  Medical

  $2,033,096

  Retail

  $3,057,444

Location Insight

City

Akron

County

Summit

State

Ohio

Latitude

41.0839

Longitude

-81.5513

CBSA code

10420

CBSA name

AKRON, OH METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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