Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    Property profile & analytics

    103 Western Ave Akron, OH 44313

    • Auto shops
    • 15,328 SF
    • 1.36 lot acres
    For Sale
    View listing
    $1,250,000
    Last Sale
    May 22, 2024
    $720,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US66-0146987
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Neil Leeson Decor Floral / Florist
    • H F Rubber Machinery / Professional Services

    Property Details for 103 Western Ave

    Year built
    1980
    Lot size
    1.36 lot acres
    Property size
    15,328 SF
    Property type
    Auto shops
    APN
    68-55631
    APU
    6855631

    Description

    This exceptional 15,328 square foot flex space property in Akron, Ohio, is available for sale at $1,250,000. Situated on a 1.36-acre lot with ULB zoning, it offers a versatile blend of office and warehouse space. The building boasts 3,040 square feet of attractive office space, including six private offices, a conference room, reception area, and open workspace, complemented by a 3,910 square foot mezzanine. Warehouse features include approximately 8,378 square feet of space, three overhead doors (two 16' and one 8'), a plant office, lunchroom, and restrooms. The property also includes modern amenities such as gas forced air heating, 600 amp 3-phase power, and approximately 28 parking spaces. Conveniently located near I-77 and West Market Street, this meticulously maintained property provides easy access to major transportation routes, making it ideal for a variety of businesses. The square footage is adaptable, ranging from 12,288 to 19,238 square feet. The property is also available for lease.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Estimation
      $720,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $700,000
      6.5%
      $645,000
      7%
      $725,000

    • Comparable approach

      Method
      Estimation
      Relative Method
      $780,000
      Geo Method
      $795,000

    • Alternative Use

      Use
      Estimation
      Distribution
      $725,000
      Retail
      $615,000
      Mixed-Use
      $685,000
      Hospitality
      $775,000
      Educational
      $795,000
      Residential Income
      $750,000
      Energy
      $750,000
      Income-Based Land
      $720,000
      Food Service
      $765,000

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Akron
    County
    Summit
    State
    Ohio
    Longitude
    -81.576
    Latitude
    41.115
    CBSA code
    10420
    CBSA name
    AKRON, OH METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $15,973
    $45,220
    $136,740
    $181,960
    -
    $129,200
    $390,670
    $519,870

    Comparable in this City

    • Value Estimation by Request
      0.04 Acres

      Hawkins Ave

      PARKING GARAGE, PARKING STRUCTURE • 0.04 Acres
      Hawkins Ave, Akron, OH 44313
      View Details
    • Value Estimation by Request
      0.23 Acres

      1611 Exchange St

      PARKING GARAGE, PARKING STRUCTURE • 0.23 Acres
      1611 Exchange St, Akron, OH 44313
      View Details
    • Value Estimation by Request
      0.30 Acres

      1621 Exchange St

      PARKING GARAGE, PARKING STRUCTURE • 0.30 Acres
      1621 Exchange St, Akron, OH 44313
      View Details
    • Value Estimation by Request
      0.01 Acres

      2311 Market St

      PARKING GARAGE, PARKING STRUCTURE • 0.01 Acres
      2311 Market St, Akron, OH 44313-4441
      View Details
    • Value Estimation by Request
      0.04 Acres

      1693 Market St

      PARKING GARAGE, PARKING STRUCTURE • 0.04 Acres
      1693 Market St, Akron, OH 44313-7001
      View Details
    • Value Estimation by Request
      0.44 Acres

      1770 Merriman Rd

      PARKING GARAGE, PARKING STRUCTURE • 0.44 Acres
      1770 Merriman Rd, Akron, OH 44313-5252
      View Details

    Similar Nearby for Sale

    • $1,250,000
      12,288 SF

      Akron Flex Space For Sale

      15,328 SF Flex Space, 1.36 Acres
      103 Western Ave, Akron, OH 44313
      View Details
    • Contact for pricing

      Akron Land Opportunity

      Land available in Akron, Ohio.
      884-888 E Market St, Akron, OH 44313
      View Details
    • $240,000
      12.00 Acres

      Copley Commercial Land For Sale

      12 acres of commercial land ready for development near I-77.
      White Pond Dr, Copley, OH 44313
      View Details
    • $65,000
      0.19 Acres

      Akron Land Opportunity

      Vacant lot in active lifestyle community, build your dream home!
      10 W Sunrise Vw Dr, Akron, OH 44313
      View Details
    • $39,900
      0.54 Acres

      Land in Thriving Wallhaven Community

      Residential land for sale in Akron's Wallhaven neighborhood.
      Alden Ave, Akron, OH 44313
      View Details

    Similar Nearby for Lease

    • $1,150,000
      1,056 SF

      Retail Space in Neighborhood Plaza

      Versatile retail space in a multi-tenant neighborhood plaza.
      1945-1963 W Market St, Akron, OH 44313
      View Details
    • Contact for pricing
      1,610 SF

      Westgate Plaza Retail Space

      Prime Akron Retail, High Traffic
      1682 Market St, Akron, OH 44313
      View Details
    • $250 SF/Yr
      110 SF

      Retail Space with Utilities Included

      Retail suites available for rent with utilities included.
      1720 Merriman Rd, Akron, OH 44313
      View Details
    • Contact for pricing
      35,841 SF

      Westgate Plaza Retail Space in Akron

      Prime Akron retail space, multiple units available.
      1682-1712 Market St, Akron, OH 44313
      View Details
    • $9 SF/Yr
      22,500 SF

      Akron Executive Office Suite Available

      Prime Akron Office Space, 2,050-4,100 SF
      1915 Market St, Akron, OH 44313
      View Details
    • Contact for pricing
      3,310 SF

      Westgate Plaza Retail Opportunity

      Akron, OH retail space: high traffic, great visibility.
      1682 Market St, Akron, OH 44313
      View Details
    Request Owner's contact information
    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.
    103 Western Ave
    Akron, OH 44313
    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.

    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
    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
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.