1014 Kenmore BlvdAkron, OH 44314

Property Details for 1014 Kenmore Blvd

Year built

1923

Lot size

0.08 AC

Property size (Sq ft)

2,460 SF

Property type

Retail properties

Property subtype

Retail space

APN

68-22112

APU

6822112

Description

This exceptional mixed-use property at 1014 Kenmore Blvd, Akron, OH 44314 presents a compelling investment opportunity. The 2,460 square foot building, constructed in 1923 and renovated in 2020, boasts a desirable Class C designation and sits on a 0.08-acre lot. Currently configured as a ground-floor commercial space and a second-floor, two-bedroom, one-bathroom apartment, this property offers immediate cash flow. The apartment, generating $850 monthly rent from a long-term tenant, contributes significantly to the property's strong financial performance. The main floor commercial space is versatile, suitable for retail, office, or service businesses, featuring convenient front and rear entrances and ample rear parking. The building's prime location on Kenmore Blvd ensures high visibility and accessibility. With a Net Operating Income (NOI) of $10,200 and an 8.16% capitalization rate, this property represents a solid return on investment. The permitted commercial zoning allows for a variety of uses, maximizing potential for future growth and income. This is an owner-user and tenant occupied property with a total of two units. The property's attractive brick exterior and updated interior combine charm with modern functionality. This is a rare opportunity to acquire a profitable mixed-use property in a thriving Akron location. The Summit County location and APN 6822112 provide further identification. The asking price is $125,000.

• CAP approach

  CAP return

  Valuation

  6%

  $687,719

  6.5%

  $634,817

  7%

  $589,473

• Comparable approach

  Method

  Valuation

  Relative Method

  $579,873

  Geo Method

  $579,873

• Alternative Use

  Use

  Valuation

  Residential

  $535,492

  Hospitality

  $490,508

  Educational

  $408,097

  Medical

  $422,132

  Retail

  $634,817

Location Insight

City

Akron

County

Summit

State

Ohio

Latitude

41.0425

Longitude

-81.5601

CBSA code

10420

CBSA name

AKRON, OH METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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