Vintage Office Building with
For Sale
$450,000
148 E Miller Ave., Akron, OH 44301
Office building with storage units on 1.396 acres.
Property Size13,141 SF
Lot Size1.40 Acres
Price / SF$74.14
Days on Market205
Property Features for 148 E Miller Ave.
General Information
Standard status
Active
Size
13,141 SF
Class
B
Lot size
1.40 Acres
Property subtype
Office
Building Details
Building Size
13,141 SF
Year Built
1930
Listed By:
Robert Raskow, SIOR
(330) 697-6818
Source:
Naiglobal
Added: Apr 1
Changed: Oct 21
Last Checked: Oct 20 at 6:51PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Robert Raskow, SIOR
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This property features a vintage office building and 23 storage/warehouse units, situated on 1.396 acres. The office building provides 6,070 square feet of space. Additionally, there are 23 storage units totaling 7,071 square feet. The property includes newer roof top air conditioning units and fiber optic cable.
Key Highlights
- 23 Storage/Warehouse Units totaling 7,071 SF
- 6,070 SF Office Building
- Located on 1.396 Acres
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$28,308
Cap Rate
6.29%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$566,160
$566.2K
Cap Rate 7%
$404,400
$404.4K
Cap Rate 9%
$314,533
$314.5K
Market Conditions
NOI Build-Up for 6,070 SF
Gross rent
$41.5K $6.84/SF
− Vacancy
−$1.1K −$0.18/SF
EGI
$40.4K $6.66/SF
− OpEx
−$12.1K −$2.00/SF
NOI
$28.3K $4.66/SF
Area
Akron, OH
Vacancy
2.60%
Lease Rate
$6.84 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$566,160
Cap Rate 7%
$404,400
Cap Rate 9%
$314,533
Alternative Uses
Best Use
Office B
$1.03M
$897.4K – $1.20M
NOI $71,790 @ 7.0% cap · market cap 15.95%
Second Best
Self Storage
$730.4K
$639.1K – $852.1K
NOI $51,128 @ 7.0% cap · market cap 11.36%
Theoretical Best
Office A
$1.49M
$1.30M – $1.74M
NOI $104,274 @ 7.0% cap · market cap 23.17%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
553
Businesses Nearby
Explore this area
Business Placement
Demographics for 44301, OH
14,364
Population
6,859
Households
2.1
Avg Household Size
37
Median Age
20%
College-Educated
89%
High-School Grad
3.6 sq mi
ZIP Area
3,990
Density / Sq Mi
$52,134
Median Household Income
$34,553
Median Earnings
$990
Median Rent
$103,400
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in Midwest region
Frequently Asked Questions
What type of property is this?
Office building - Office building with storage units on 1.396 acres.
Where is this office building located?
The property is located at 148 E Miller Ave. Akron, OH.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: 23 Storage/Warehouse Units totaling 7,071 SF; 6,070 SF Office Building; Located on 1.396 Acres
