301 Springside DrAkron, OH 44333

Property Details for 301 Springside Dr

Year built

1997

Lot size

2.85 AC

Property size (Sq ft)

21,808 SF

Property type

Office properties

Property subtype

Office buildings

APN

05-00725

APU

500725

Description

This exceptional Class A office building, situated on a 2.85-acre lot in Akron, Ohio (APN 0500725), presents a compelling investment opportunity. Boasting 21,808 square feet of net rentable space across two stories, this 1997-constructed building features a desirable traditional office layout with a mix of private offices and open work areas. Large windows maximize natural light throughout the space. The property is zoned B3 and benefits from a highly convenient location directly off I-77 in the thriving Fairlawn sub-market, providing easy access to a wealth of amenities including numerous dining, shopping, and hotel options. Currently configured as a single-tenant occupancy, the building is available for sale or lease with the current tenant vacating December 31, 2024. The asking price is $3,100,000, translating to $142.15 per square foot. This is a NNN lease property. This presents a rare opportunity to acquire a well-maintained, high-quality office building in a prime Akron location. The building's attractive features and strategic location make it an ideal choice for owner-users or investors seeking a strong return on investment.

• CAP approach

  CAP return

  Valuation

  6%

  $4,147,383

  6.5%

  $3,828,354

  7%

  $3,554,900

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,039,920

  Geo Method

  $2,039,920

• Alternative Use

  Use

  Valuation

  Residential

  $4,747,158

  Hospitality

  $4,348,372

  Educational

  $3,617,794

  Medical

  $3,742,216

  Retail

  $5,627,680

Location Insight

City

Akron

County

Summit

State

Ohio

Latitude

41.1414

Longitude

-81.6421

CBSA code

10420

CBSA name

AKRON, OH METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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