106 Main StAkron, OH 44308

Property Details for 106 Main St

Year built

1929

Lot size

0.23 AC

Property size (Sq ft)

9,800 SF

Property type

Office properties

Property subtype

Office buildings

APN

68-23287

APU

6823287

Description

This exceptional value-add investment opportunity presents a 27-story, 242,696 square foot traditional office building located at 106 S Main Street in Akron, Ohio's central business district. Originally constructed in 1931, the property underwent an extensive three-year restoration project between 2008 and 2011, including recent renovations to the building's arcade. The building boasts a significant amount of parking, offering a generous ratio of 12.5 spaces per 1,000 square feet, a considerable advantage in a bustling urban environment. Security is a top priority, with 24/7 on-site guard services ensuring the safety and protection of tenants and assets. This landmark property offers a unique blend of historical charm and modern functionality, presenting a compelling opportunity for investors seeking a substantial presence in Akron's thriving downtown core. The building's size and location make it ideal for a variety of uses, offering significant potential for future growth and development. Its prime location within the central business district provides easy access to a wide range of amenities, transportation options, and a vibrant business community. The substantial square footage and ample parking make this a truly remarkable opportunity in the Akron, Ohio market. The Summit County location and 44308 zip code further solidify its strategic position.

• CAP approach

  CAP return

  Valuation

  6%

  $1,863,736

  6.5%

  $1,720,372

  7%

  $1,597,488

• Comparable approach

  Method

  Valuation

  Relative Method

  $916,692

  Geo Method

  $916,692

• Alternative Use

  Use

  Valuation

  Residential

  $2,133,261

  Hospitality

  $1,954,055

  Educational

  $1,625,751

  Medical

  $1,681,663

  Retail

  $2,528,946

Location Insight

City

Akron

County

Summit

State

Ohio

Latitude

41.088

Longitude

-81.516

CBSA code

10420

CBSA name

AKRON, OH METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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