1071 Eastwood AveAkron, OH 44305

Property Details for 1071 Eastwood Ave

Year built

1998

Lot size

1.00 AC

Property size (Sq ft)

5,000 SF

Property type

Other commercial real estate

Property subtype

Showrooms

APN

68-59303

APU

6859303

Description

This exceptional industrial property at 1071 Eastwood Ave, Akron, OH 44305, presents a unique investment opportunity. The property consists of two buildings totaling 8,000 square feet on a one-acre lot (145x299 ft) in Summit County, zoned Indust-Light. Built in 1998, the warehouse features a vaulted ceiling, approximately 4,000 square feet of open space, and three 14x16' dock-high doors. The property also includes approximately 1,000 square feet of office space equipped with HVAC, a bathroom, and LED lighting. Additional amenities include 30 parking spaces and a pitched metal roof (approx. 2000 installation). The property is secured by fencing. The seller covers water expenses up to $100 per month (lease contingent). There are also additional garage bays totaling approximately 3,000 square feet. The seller will consider leasing or a lease-to-purchase option. The property is available for occupancy on September 17, 2024, with a current lease expiring February 10, 2025. The property includes single-phase electric.

• CAP approach

  CAP return

  Valuation

  6%

  $1,397,802

  6.5%

  $1,290,279

  7%

  $1,198,116

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,178,604

  Geo Method

  $1,178,604

• Alternative Use

  Use

  Valuation

  Residential

  $1,088,398

  Hospitality

  $996,967

  Educational

  $829,465

  Medical

  $857,991

  Retail

  $1,290,279

Location Insight

City

Akron

County

Summit

State

Ohio

Latitude

41.0855

Longitude

-81.4809

CBSA code

10420

CBSA name

AKRON, OH METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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