3979 Medina RdAkron, OH 44333

  • Retail properties
  • 161,649 SF
For Lease

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
3979 Medina Rd, Akron, Ohio

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

Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2023
$248,349
$1,441,190
$2,092,670
$3,533,860
-
$4,117,680
$5,979,050
$10,096,730

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