3979 Medina RdAkron, OH 44333
- Retail properties
- 161,649 SF
Property Details for 3979 Medina Rd
- Year built
- 1974
- Lot size
- 13.07 AC
- Property size (Sq ft)
- 161,649 SF
- Property type
- Retail properties
- Property subtype
- Other retail properties
- APN
- 05-00829
- APU
- 500829
Description
Montrose Acme Plaza presents a compelling retail investment opportunity. This 12.234-acre, Class C shopping center, built in 1974, is strategically located in Montrose's thriving retail trade area, boasting exceptional visibility from SR 18. The single-story building features a fully signalized entrance and abundant parking, ensuring convenient access for customers. The property's strong tenant mix includes a prominent Acme Fresh Market anchor, complemented by diverse businesses such as JoAnn Fabric, Salon Lofts, Key Bank, Subway, Brubaker's Pub, Strickland's Ice Cream, DN Nails Salon, and Dry Cleaning World. Currently, one retail space of 13,515 square feet is available. The property is zoned B-2 and its APN is 0500829, located in Summit County. This grocery-anchored center offers a stable investment with high visibility and a proven track record of success. The property's established tenant base and convenient location make it an attractive prospect for investors seeking a strong return on investment in a desirable retail market. The ample parking and convenient access from SR 18 further enhance the property's appeal. This is a rare opportunity to acquire a well-positioned retail property in a high-traffic area.
Valuation
by Paperhouses methods
- Valuation date:
- Dec 11, 2024
-
CAP approach
- CAP return
- Valuation
- 6%
- $45,190,656
- 6.5%
- $41,714,452
- 7%
- $38,734,848
-
Comparable approach
- Method
- Valuation
- Relative Method
- $38,104,032
- Geo Method
- $38,104,032
-
Alternative Use
- Use
- Valuation
- Residential
- $35,187,700
- Hospitality
- $32,231,744
- Educational
- $26,816,434
- Medical
- $27,738,692
- Retail
- $41,714,452
Location Insight
- City
- Akron
- County
- Summit
- State
- Ohio
- Latitude
- 41.1374
- Longitude
- -81.6423
- CBSA code
- 10420
- CBSA name
- AKRON, OH METROPOLITAN STATISTICAL AREA
Property Tax & Assessments
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
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