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    349-379 Main St Akron, OH 44308

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    For Lease
    Contact for pricing

    Prime Akron retail, newly renovated, multiple suites available.

    Lot size:
    12,484 SF

    Property Features for 349-379 Main St

    General Information

    Property type
    Restaurants
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    12,484 SF
    Class
    A

    Building Details

    Year Built/Renovated
    2009/2021
    Buildings
    2

    Spaces For Lease

    at 349-379 Main St, Akron, OH 44308 Contact us

    We can help!

    Listing Contact
    Nichole Booker, Phd
    Nichole Booker, Phd

    Listing Agency: SVN Summit Commercial Real Estate Advisors Listing Agent: Nichole Booker, Phd

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

    Learn more

    Overview

    This exceptional retail opportunity is located in the vibrant, walkable historic district of Downtown Akron, Ohio, at 349-379 S. Main Street, zip code 44308. The property, known as The Standard On Main, is a Class A, mixed-use development featuring two buildings constructed in 2009 and extensively renovated in 2021. The retail space offers a total of ten suites within a dynamic environment, complemented by 236 apartments. This ensures high foot traffic and a built-in customer base. Individual retail units range from a minimum of 1,150 square feet to a maximum contiguous space of 4,115 square feet, providing flexibility for various business needs. The property is situated in Summit County, within the Akron submarket cluster, making it an ideal location for businesses seeking exposure in a thriving urban setting. The property's recent renovation ensures modern amenities and a high-quality environment for tenants. This is a rare chance to secure retail space in a highly desirable, revitalized downtown area. The property's location in the heart of Akron's historic district offers unparalleled access to a diverse population and strong local support.
    Property Profile Location Intelligence

    Current Use by Public Records

    Retail space

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Akron
    County
    Summit
    State
    Ohio
    Longitude
    -81.5219858
    Latitude
    41.0762898

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    FAQs

    What type of property is this?
    Restaurant - Prime Akron retail, newly renovated, multiple suites available.
    Where is this restaurant located?
    The property is located at 349-379 Main St Akron, OH.
    What are key features of this property?
    This property features: Tenant improvements (TI) available for qualified tenants.; High traffic counts: 22,000 vehicles per day (VPD) on E. Exchange Street and 15,000 VPD on S. Main Street, plus over 60,000 daytime population within one mile.; Excellent walkability to University of Akron, Lock 3, Akron Civic Theater, Canal Place, Akron Art Museum, Towpath Trail, and numerous retail, restaurant, and entertainment options.
    (330) 475-5500 Call to check price and availability
    Request Owner's contact information
    349-379 Main St Akron, OH 44308
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    Akron, OH 44308
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    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
    349-379 Main St Akron, OH 44308
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    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Nichole Booker, Phd
    Nichole Booker, Phd
    Real Estate License ID: SAL.2018004350
    (330) 475-5500 (234) 231-0200
    Learn more
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