411 Wolf Ledges PkwyAkron, OH 44311

Property Details for 411 Wolf Ledges Pkwy

Lot size

0.50 AC

Property type

Parking lots & garages

APN

67-35237

APU

6735237

Description

This exceptional 44,800 square foot, four-story office building at 411 Wolf Ledges Pkwy in Akron, Ohio, presents a compelling owner-user investment opportunity. The property, situated on a 2.16-acre lot, boasts 148 parking spaces—a rare find in downtown Akron. Built in 1970 and extensively renovated between 2007 and 2020 (including a new roof and HVAC systems in 2019), the building features modern amenities such as double-hung plate glass windows, an ADA-accessible elevator, and restrooms on each floor. Currently 64% occupied, this multi-tenant property offers significant upside potential. The building is zoned U4-Commercial and benefits from its location in a designated Opportunity Zone and HUBZone. Its proximity to University Park District, East Exchange Street, downtown Akron, restaurants, hospitals, and major highways (I-77/76 & SR 8) enhances its appeal. The University of Akron Research Foundation is the current owner. The asking price is $2,395,000 ($53.46/sq ft). Tenant improvement allowances are available. This meticulously maintained property represents a rare opportunity to acquire a substantial, well-located office building in a thriving Akron neighborhood.

• CAP approach

  CAP return

  Valuation

  6%

  $6,088,825

  6.5%

  $5,620,454

  7%

  $5,218,993

• Comparable approach

  Method

  Valuation

  Relative Method

  $5,133,999

  Geo Method

  $5,133,999

• Alternative Use

  Use

  Valuation

  Residential

  $4,741,063

  Hospitality

  $4,342,788

  Educational

  $3,613,149

  Medical

  $3,737,411

  Retail

  $5,620,454

Location Insight

City

Akron

County

Summit

State

Ohio

Latitude

41.0719

Longitude

-81.5195

CBSA code

10420

CBSA name

AKRON, OH METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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