641 Massillon RdAkron, OH 44312

Property Details for 641 Massillon Rd

Year built

2005

Construction

FRAME

Lot size

0.46 AC

Property size (Sq ft)

4,402 SF

Property type

Retail properties

Property subtype

Turn key restaurants

APN

67-62566

APU

6762566

Description

This exceptional investment opportunity presents a thriving multi-tenant commercial property in Akron, Ohio. The 4,402 square foot building, constructed in 2005, sits on a 0.455-acre lot and boasts a prime location at 641 Massillon Rd, zip code 44312. The property currently houses two established businesses: a well-regarded neighborhood bar, "Jack's Happy Landing," and "Oldies & Goodies Classic Family Diner," a popular family restaurant. The bar features approximately 25 bar stools, 8 tables, a pool table area, and two restrooms. It includes a D1, D2, and D3 liquor license, and all furniture, fixtures, and equipment are included in the sale. The restaurant, currently leased for $500 per month, offers seating for approximately 30 patrons and two restrooms; most furniture, fixtures, and equipment remain. A full basement provides ample storage space, and approximately 30 parking spaces are available. The property is zoned U-3 and features a single-story building. This turnkey operation offers significant income potential with an established tenant and the owner-operated bar. The asking price is $425,000. This is a rare chance to acquire a profitable, established commercial property in a desirable Akron location.

• CAP approach

  CAP return

  Valuation

  6%

  $1,230,625

  6.5%

  $1,135,961

  7%

  $1,054,821

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,037,643

  Geo Method

  $1,037,643

• Alternative Use

  Use

  Valuation

  Residential

  $958,226

  Hospitality

  $877,730

  Educational

  $730,261

  Medical

  $755,376

  Retail

  $1,135,961

Location Insight

City

Akron

County

Summit

State

Ohio

Latitude

41.0441

Longitude

-81.4626

CBSA code

10420

CBSA name

AKRON, OH METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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