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    875 Ivor Ave Akron, OH 44314

    Sponsored
    For Sale
    $199,500

    20.75 acres, prime development site.

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional 20.75-acre development opportunity in Akron, Ohio, presents a unique investment prospect. Located at 875 Ivor Ave, Summit County, OH 44314, this property encompasses two parcels (6741011: 16.82 acres and 6854413: 3.93 acres). The land is primarily zoned U-5 (Ordinary Industry), with a smaller section zoned U-2 (Apartments), offering diverse development potential. The site is currently undergoing the final stages of brownfield remediation under a consent decree. Note that the easternmost portion of the property falls within FEMA's AE flood zone, and a significant portion appears as wetlands on the Summit County GIS website, though no formal wetland delineation has been conducted by the seller. A key advantage is the property's adjacency to railroad tracks owned by the Wheeling & Lake Erie Railway Company, suggesting potential rail service access. The location provides excellent proximity to the I-277/I-76 interchange, ensuring convenient access to major transportation arteries. The asking price for this substantial land parcel is $199,500. This property is ideal for developers seeking a large-scale project with diverse zoning and strategic location.

    Property Features for 875 Ivor Ave

    General Information

    Property type
    Multifamily properties
    Lot Size
    903,870 SF

    HighLights

    • 16.82‑acre parcel (Summit County Parcel # 6741011) and 3.93‑acre parcel (Summit County Parcel # 6854413).
    • Primarily zoned U‑5 Ordinary Industry, with a portion zoned U‑2 Apartments.
    • Brownfield site undergoing final remediation under a consent decree.
    • Eastern portion located in FEMA flood zone AE; significant wetland presence indicated on Summit County GIS.
    • Potential rail service via adjacent Wheeling & Lake Erie Railway Company tracks.
    • Excellent access to I‑277/I‑76 interchange.
    Property Profile Location Intelligence

    Current Use by Public Records

    High-rise multifamily apartments

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Spa & Massage Dental Office Wholesale Shop Auto Repair Shop Hair Salon Clothing Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Akron
    County
    Summit
    State
    Ohio
    Longitude
    -81.558516
    Latitude
    41.029392

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    FAQs

    What type of property is this?
    Multifamily property - 20.75 acres, prime development site.
    Where is this multifamily property located?
    The property is located at 875 Ivor Ave Akron, OH.
    What is the asking price?
    The asking price for this property is $199,500.
    What are key features of this property?
    This property features: 16.82-acre parcel (Summit County Parcel # 6741011) and 3.93-acre parcel (Summit County Parcel # 6854413).; Primarily zoned U-5 Ordinary Industry, with a portion zoned U-2 Apartments.; Brownfield site undergoing final remediation under a consent decree.
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    Akron, OH 44314
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    Realmo Value Estimation

    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.

    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.

    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
    875 Ivor Ave Akron, OH 44314
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