1016 Kenmore BlvdAkron, OH 44314

Property Details for 1016 Kenmore Blvd

Year built

1917

Lot size

0.07 AC

Property size (Sq ft)

7,680 SF

Property type

Retail properties

Property subtype

Retail space

APN

68-09725

APU

6809725

Description

This exceptional two-story commercial property, situated on a 0.08-acre lot at 1016 Kenmore Boulevard in Akron, Ohio, presents a unique investment and development opportunity. Boasting 7,680 square feet of versatile space, the building is ideally suited for a variety of uses, including retail, office, or a mixed-use development. The ground floor offers a spacious, open layout perfect for a retail business, restaurant, or service-oriented establishment. The upper level provides functional office space, allowing for expansion or additional revenue streams. Adding to its appeal, the property includes an attached efficiency apartment, currently rented for $650 per month, providing immediate and consistent cash flow from a long-term tenant. This reliable income stream offers a significant advantage for investors. Recent upgrades include a new furnace, air conditioning system, and water heater, ensuring the building is well-maintained and energy-efficient. The high-visibility location on the bustling Kenmore Boulevard corridor guarantees significant foot traffic and exposure, making this a prime opportunity for those seeking a strong presence in a thriving Akron commercial area. The property's size and versatility, combined with its existing income stream and recent updates, make it an attractive proposition for both investors and business owners. Don't miss this chance to acquire a well-maintained, income-producing property in a desirable location. The asking price is $100,000.

• CAP approach

  CAP return

  Valuation

  6%

  $2,147,024

  6.5%

  $1,981,868

  7%

  $1,840,306

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,810,336

  Geo Method

  $1,810,336

• Alternative Use

  Use

  Valuation

  Residential

  $1,671,780

  Hospitality

  $1,531,341

  Educational

  $1,274,058

  Medical

  $1,317,875

  Retail

  $1,981,868

Location Insight

City

Akron

County

Summit

State

Ohio

Latitude

41.0425

Longitude

-81.5602

CBSA code

10420

CBSA name

AKRON, OH METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

FAQs

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