106 Main St Akron, OH 44308
- Office buildings
- 9,800 SF
- 0.23 lot acres
Current Use by Public Records
- Architectural Greenery / Architect / Florist
- Skoglund Rodney L / Attorney
- Renner Kenner, LPA: Mark Weber / Law Firm
- Temple Square Interiors / Office Furniture Store
- #PrettyLashTag, LLC / Eyelash Salon
Property Details for 106 Main St
- Year built
- 1929
- Lot size
- 0.23 lot acres
- Property size
- 9,800 SF
- Property type
- Office buildings
- APN
- 68-23287
- APU
- 6823287
Description
This exceptional value-add investment opportunity presents a 27-story, 242,696 square foot traditional office building located at 106 S Main Street in Akron, Ohio's central business district. Originally constructed in 1931, the property underwent an extensive three-year restoration project between 2008 and 2011, including recent renovations to the building's arcade. The building boasts a significant amount of parking, offering a generous ratio of 12.5 spaces per 1,000 square feet, a considerable advantage in a bustling urban environment. Security is a top priority, with 24/7 on-site guard services ensuring the safety and protection of tenants and assets. This landmark property offers a unique blend of historical charm and modern functionality, presenting a compelling opportunity for investors seeking a substantial presence in Akron's thriving downtown core. The building's size and location make it ideal for a variety of uses, offering significant potential for future growth and development. Its prime location within the central business district provides easy access to a wide range of amenities, transportation options, and a vibrant business community. The substantial square footage and ample parking make this a truly remarkable opportunity in the Akron, Ohio market. The Summit County location and 44308 zip code further solidify its strategic position.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $630,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $625,000
- 6.5%
- $625,000
- 7%
- $540,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $645,000
- Geo Method
- $605,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $620,000
- Retail
- $520,000
- Mixed-Use
- $655,000
- Hospitality
- $475,000
- Educational
- $475,000
- Residential Income
- $525,000
- Energy
- $625,000
- Income-Based Land
- $485,000
- Food Service
- $550,000
Location Insight
- Map
- Local Demand
- City
- Akron
- County
- Summit
- State
- Ohio
- Longitude
- -81.516
- Latitude
- 41.088
- CBSA code
- 10420
- CBSA name
- AKRON, OH METROPOLITAN STATISTICAL AREA
