2329 Romig RdAkron, OH 44320

Property Details for 2329 Romig Rd

Year built

1978

Lot size

1.01 AC

Property size (Sq ft)

5,368 SF

Property type

Turn key restaurants

APN

67-23509

APU

6723509

Description

This freestanding, single-story office building in Akron, Ohio, presents a unique investment opportunity. Boasting 5,368 square feet, the property is situated on 1.01 acres and benefits from a recent 2023 renovation, updating a 1978 structure. The building is zoned UPD (Planned Development) and offers two restrooms. Located conveniently near I-77 (approximately one mile away), this Class B building is priced at $325,000, translating to $60.54 per square foot. While a lease is currently in place at $3,500 per month on a NNN basis, the sale provides an excellent opportunity for owner-occupancy or a strong investment return. The property's versatile design makes it suitable for a variety of creative or medical office uses. The address is 2329 Romig Rd, Akron, OH 44320, in Summit County.

• CAP approach

  CAP return

  Valuation

  6%

  $1,199,400

  6.5%

  $1,107,140

  7%

  $1,028,060

• Comparable approach

  Method

  Valuation

  Relative Method

  $522,208

  Geo Method

  $522,208

• Alternative Use

  Use

  Valuation

  Industrial / Distribution

  $2,193,850

  Mixed-Use / Specialty

  $1,089,120

  Hospitality / Lodging

  $780,727

  Office

  $1,067,990

  Institutional / Educational

  $1,127,210

  Residential Income

  $1,318,840

  Multifamily

  $1,659,760

  Automotive / Energy

  $966,182

  Parking / Income-Based Land

  $347,322

  Restaurant / Food Service

  $536,423

  Healthcare / Senior Housing

  $1,131,300

Location Insight

City

Akron

County

Summit

State

Ohio

Latitude

41.0511

Longitude

-81.58

CBSA code

10420

CBSA name

AKRON, OH METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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