3979 Medina RdAkron, OH 44333

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

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.

• 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

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