1720 Merriman RdAkron, OH 44313

Property Details for 1720 Merriman Rd

Year built

1972

Lot size

0.70 AC

Property size (Sq ft)

13,528 SF

Property type

Retail properties

Property subtype

Strip malls

APN

68-22076

APU

6822076

Description

This exceptional commercial property, located at 1720 Merriman Road in Akron, Ohio, presents a compelling investment opportunity. The single-story, 10,626 square foot building sits on a 0.7-acre lot and is classified as Class B. Constructed in 1972, the property features multiple tenancies, with 600 square feet currently vacant. The building offers a variety of spaces suitable for various retail or office uses. One available space, Suite J, is a 215 square foot office with two windows, conveniently located next to a rear door. This suite is available for $315 per month, plus a $55 utility fee. The property's convenient location in Akron, Summit County, Ohio (zip code 44313) provides excellent access to local amenities and transportation routes. The absence of elevators is noted. This property is ideal for investors seeking a well-located, established retail space with potential for immediate income generation and future growth. The existing tenants provide a stable income stream, while the vacant space offers the opportunity to increase profitability. Serious inquiries are encouraged.

• CAP approach

  CAP return

  Valuation

  6%

  $3,781,893

  6.5%

  $3,490,978

  7%

  $3,241,622

• Comparable approach

  Method

  Valuation

  Relative Method

  $3,188,831

  Geo Method

  $3,188,831

• Alternative Use

  Use

  Valuation

  Residential

  $2,944,770

  Hospitality

  $2,697,394

  Educational

  $2,244,200

  Medical

  $2,321,382

  Retail

  $3,490,978

Location Insight

City

Akron

County

Summit

State

Ohio

Latitude

41.134

Longitude

-81.5519

CBSA code

10420

CBSA name

AKRON, OH METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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