Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    215 E Waterloo Rd Akron, OH 44319

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $575,000

    Well-maintained office building with upside potential in a strong Akron corridor.

    Building Details

    Year built
    1960

    We can help!

    Listing Contact
    Jenna Tharp
    Jenna Tharp
    Source: Svnsummitcommercial

    Listing Agency: SVN Summit Commercial Real Estate Advisors Listing Agent: Jenna Tharp

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    Multi-Tenant Office Investment Opportunity

    This well-maintained multi-tenant office building presents an investment opportunity with potential for increased value through leasing vacant suites. The property is located on Waterloo Road, a heavily trafficked commuter and service route, providing great visibility and easy access to I-77 and I-224. Its zoning and layout offer flexibility to accommodate a range of small to mid-size tenants, supporting various office, medical, and service-related uses. Value can be added by stabilizing the property through renewals, market-rate adjustments, and leasing vacant spaces. Recent capital improvements include a new roof, upgraded HVAC, updated plumbing, and new windows. Amenities include ample on-site parking, in-suite restrooms, and some units with private entrances. The property offers excellent highway access, located less than 1 mile from the I-77/US-224 interchange, with quick connections to I-76, I-277, and SR-241. The property size is 19976 square feet.
    Location Intelligence

    Current Use by Public Records

    UpRight Law Law Firm Mohamed Katirji Physician Miles Of Care Home ... Home Health Care Service Financial Wize Mortgage ... Nursing Home oaoss Insurance Agency

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Akron
    County
    Summit
    State
    Ohio
    Longitude
    -81.519251
    Latitude
    41.029269

    Nearby Similar for Sale

    • $159,900
      0.52 Acres

      Akron Commercial Building For Sale

      Highly visible corner location with diverse potential uses.
      1707 Vernon Odom Blvd, Akron, OH 44320
      View Details
    • $549,900
      0.64 Acres

      Historic Akron Property with Updates

      Historic property suitable for offices, retail, or residential conversion.
      697 W Market St, Akron, OH 44303
      View Details
    • New
      $125,000
      3,316 SF

      Akron Triplex Investment Opportunity

      Value-add triplex in historic Akron neighborhood with income potential.
      124 Roswell St, Akron, OH 44305
      View Details
    • $295,000
      2,632 SF

      Well-Maintained Akron Three-Unit Building

      Three-unit brick apartment building in prime Akron location.
      1804-1808 Cromwell Dr, Akron, OH 44313
      View Details
    • $340,000
      2,800 SF

      Akron Multifamily Investment Opportunity

      Two duplexes with month-to-month leases and long-term tenants.
      349/351 Cluster Ave, Akron, OH 44305
      View Details
    • $130,000
      2,930 SF

      Akron Duplex with Income Potential

      Traditional duplex in Akron with strong income potential.
      604 E Buchtel Ave, Akron, OH 44304
      View Details
    • $309,900
      2,496 SF

      Akron Multifamily Investment Opportunity

      Four-unit brick property with long-term tenants and updates.
      2256 Maryland Ave, Akron, OH 44314
      View Details
    • New
      $119,900
      1,736 SF

      Akron Twinplex Townhouse Style Duplex

      Townhouse-style duplex with renovated units and rental income potential.
      2052-2054 16Th St SW, Akron, OH 44314
      View Details
    • New
      $268,000
      2,530 SF

      Updated Duplex in Portage Lakes

      Move-in ready duplex in Akron's sought-after Portage Lakes area.
      206 Olivet Ave, Akron, OH 44319
      View Details
    • New
      $159,900
      0.20 Acres

      Akron Triplex Investment Opportunity

      Income-producing triplex near Akron University and Downtown Akron.
      678-682 Sumner St, Akron, OH 44311
      View Details
    • New
      $119,900
      0.18 Acres

      Updated Duplex in Akron, OH

      Updated 2-unit duplex with recent renovations and central air.
      673 Sumner St, Akron, OH 44311
      View Details
    • New
      $130,000
      2,608 SF

      Akron Duplex: Turnkey Investment

      Spacious duplex in Akron with income potential and convenient location.
      370 Wildwood Ave, Akron, OH 44320
      View Details

    FAQs

    What type of property is this?
    Office building - Well-maintained office building with upside potential in a strong Akron corridor.
    Where is this office building located?
    The property is located at 215 E Waterloo Rd Akron, OH.
    What is the asking price?
    The asking price for this property is $575,000.
    What are key features of this property?
    This property features: - Value-add opportunity through lease stabilization and market-rate adjustments.; - Excellent location on a heavily trafficked road with easy access to I-77 and I-224.; - Recent capital improvements including a new roof, upgraded HVAC, updated plumbing, and new windows.
    (231) 633-1642
    Request Owner's contact information
    215 E Waterloo Rd Akron, OH 44319
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    215 E Waterloo Rd
    Akron, OH 44319
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    215 E Waterloo Rd Akron, OH 44319
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Jenna Tharp
    Jenna Tharp
    Real Estate License ID: SAL.2020006237
    (231) 633-1642 (234) 231-0200 (234) 230-1776
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!