2188 Market StAkron, OH 44312

Property Details for 2188 Market St

Year built

1959

Lot size

0.94 AC

Property size (Sq ft)

9,800 SF

Property type

Retail properties

Property subtype

Other retail properties

APN

68-45524

APU

6845524

Description

This 9,773 square foot, single-tenant Dollar Tree property in Akron, Ohio, presents a compelling investment opportunity. Built in 2015, the property sits on approximately one acre of land at 2188 E Market St, Akron, OH 44312, and boasts a strong 8.00% cap rate with a Net Operating Income (NOI) of $97,730. The Absolute NNN lease with a credit-rated tenant provides stability, featuring a remaining term of approximately 1.4 years and three 5-year renewal options with 5% rent bumps every 5 years. The property benefits from its location in a densely populated area, just five minutes from downtown Akron, and enjoys 100% occupancy. The lease commenced on June 26, 2015, and is set to expire on April 30, 2026. This stabilized investment offers a low price per square foot and is well below replacement cost, making it an attractive addition to any portfolio. The property's convenient location at the corner of East Market Street and Middlefield Road provides multiple points of access. The property's parcel number is 68-45524. This is a single-tenant property within a larger portfolio of similar properties available for purchase individually or as a whole.

• CAP approach

  CAP return

  Valuation

  6%

  $2,739,692

  6.5%

  $2,528,946

  7%

  $2,348,307

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,310,064

  Geo Method

  $2,310,064

• 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

41.0583

Longitude

-81.4509

CBSA code

10420

CBSA name

AKRON, OH METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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