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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    552 Canton Rd Akron, OH 44312

    • Retail properties
    • 61,981 SF
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Eastgate Ellet Plaza / Shopping Center & Mall
    • Cash America Pawn / Discount Store / (Bike/Boat/Book/etc) Store
    • Sr22 Insurance / Marketing & Advertising

    Property Details for 552 Canton Rd

    Property size
    61,981 SF
    Property type
    Retail properties

    Description

    Eastgate Ellet Plaza, located at 552 Canton Rd, Akron, OH 44312, presents a significant retail opportunity in Summit County. This multi-tenant property boasts a total of 61,981 square feet, currently entirely vacant and available for lease. The flexible space allows for a variety of uses, accommodating businesses requiring anywhere from 450 square feet to a maximum contiguous space of 20,000 square feet. Thirteen individual spaces are available, providing options for businesses of various sizes. The property's prime location in Akron offers excellent visibility and accessibility for customers. This is an exceptional chance to establish or expand a retail presence in a thriving market. The property is categorized as retail, offering a versatile space suitable for a wide range of retail businesses. With its ample square footage and convenient location, Eastgate Ellet Plaza is an ideal investment for businesses seeking a prominent position in the Akron retail landscape. Interested parties are encouraged to inquire about lease terms and availability. The property is situated in a high-traffic area, ensuring maximum exposure for tenants. This is a rare opportunity to secure a substantial amount of retail space in a desirable location.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Akron
    County
    Summit
    State
    Ohio
    Longitude
    -81.4381
    Latitude
    41.0486

    Comparable in this City

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      4,300 SF

      2438 Canton Rd

      NURSERY, GREENHOUSE, FLORIST • 4,300 SF
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    • Value Estimation by Request

      3500 Massillon Rd

      Retail properties
      3500 Massillon Rd, Akron, OH 44312
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    • Value Estimation
      $4,100,000
      116,656 SF

      2975 Arlington Rd

      DEPARTMENT STORE • 116,656 SF
      2975 Arlington Rd, Akron, OH 44312-4717
      View Details
    • Value Estimation by Request
      0.44 Acres

      2424 Canton Rd

      NURSERY, GREENHOUSE, FLORIST • 0.44 Acres
      2424 Canton Rd, Akron, OH 44312-5033
      View Details
    • Value Estimation
      $1,345,000
      13,700 SF

      73 Massillon Rd

      DEPARTMENT STORE • 13,700 SF
      73 Massillon Rd, Akron, OH 44312-1028
      View Details
    • Value Estimation
      $3,105,000
      127,114 SF

      762 Arlington Rdg

      DEPARTMENT STORE • 127,114 SF
      762 Arlington Rdg, Akron, OH 44312-5269
      View Details

    Similar Nearby for Sale

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    • $359,000

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      Grocery Anchored Shopping Center

      Akron, OH shopping center with significant upside potential.
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      Akron Investment Opportunity For Sale

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      Residential Land in Premier Community

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    Similar Nearby for Lease

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      252,297 SF

      Lakemore Plaza: Akron Office/Retail

      Prime Akron location, multiple suites available.
      1492-1540 Canton Rd, Akron, OH 44312
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      8,858 SF

      Ellet Acme Plaza: Retail Spaces Available

      Grocery-anchored retail center; spaces from 1,000 sq ft.
      2420 Wedgewood Dr, Akron, OH 44312
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    • Contact for pricing
      800 SF

      Community Shopping Center Retail Space

      Retail spaces available in community shopping center near major routes.
      1492-1500 Canton Rd, Akron, OH 44312
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    • Contact for pricing
      2,877 SF

      Former Restaurant on Canton Road

      Restaurant space for lease with high traffic volume.
      1266 Canton Rd, Akron, OH 44312
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      5,500 SF

      790 Arlington Ridge, Akron, OH

      Shopping centers • 5,500 SF
      790 Arlington Rdg, Akron, OH 44312
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      Retail Space Near Aldi

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      2981 S Arlington Rd, Akron, OH 44312
      View Details
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    552 Canton Rd
    Akron, OH 44312
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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
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