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    Property profile & analytics

    1340 Arlington St, Unit 1400 Akron, OH 44306-3732

    • Community centers
    • 31,950 SF
    • 11.57 lot acres
    OFF-MARKET
    Last Sale
    Feb 03, 2023
    Value Estimations
    $3,100,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US66-1336239
    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

    • Pro-Nails / Hair Salon / Nail Salon

    Property Details for 1340 Arlington St

    Year built
    1956
    Lot size
    11.57 lot acres
    Property size
    31,950 SF
    Property type
    Community centers
    Property subtype
    Shopping centers
    APN
    68-54253
    APU
    6854253

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $4,242,000
      Market price range: $959k - $4.24M

    • Alternative Use

      Use
      Estimation
      NEIGHBORHOOD: SHOPPING CENTER
      $2,985,000
      Current use
      MEDICAL BUILDING
      $3,485,000
      Change: +17% Conversion: Difficult
      RESTAURANT
      $3,390,000
      Change: +14% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $3,185,000
      Change: +7% Conversion: Difficult
      OFFICE BUILDING
      $2,570,000
      Change: -14% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Akron
    County
    Summit
    State
    Ohio
    Longitude
    -81.4925
    Latitude
    41.0339
    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
    $182,894
    $344,210
    $1,667,900
    $2,012,110
    -
    $983,450
    $4,765,430
    $5,748,880

    Comparable in this City

    • Value Estimation
      $2,040,000
      59,550 SF

      1380 Arlington St, Unit 1390

      MINI-MALL • 59,550 SF
      1380 Arlington St, Akron, OH 44306-3732
      View Details
    • Value Estimation
      $1,110,000
      11,400 SF

      1493 Arlington St, Unit 1515

      MINI-MALL • 11,400 SF
      1493 Arlington St, Akron, OH 44306-3831
      View Details
    • Value Estimation
      $1,675,000
      63,322 SF

      871 Exchange St, Unit 891

      MINI-MALL • 63,322 SF
      871 Exchange St, Akron, OH 44306-1127
      View Details
    • Value Estimation by Request
      7,300 SF

      1870 Arlington St

      SHOPPING CENTER, STRIP CENTER • 7,300 SF
      1870 Arlington St, Akron, OH 44306-4252
      View Details
    • Value Estimation
      $810,000
      9,360 SF

      1417-1421 Arlington St

      SHOPPING CENTER, STRIP CENTER • 9,360 SF
      1417-1421 Arlington St, Akron, OH 44306
      View Details
    • Value Estimation
      $690,000
      7,775 SF

      1052 Arlington St, Unit 1060

      SHOPPING CENTER, STRIP CENTER • 7,775 SF
      1052 Arlington St, Akron, OH 44306-2948
      View Details

    Similar Nearby for Sale

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      4,200 SF

      Established Automotive Business and Real Estate

      Local, family-owned automotive business with real estate for sale.
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      Akron Retail Building - $575,000

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      2,600 SF

      Akron Restaurant Property For Sale

      Restaurant property for sale near S Arlington Road in Akron, OH.
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      Akron Auto Shop - High Visibility

      Prime Akron location, 25,366 SF auto shop.
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      Akron Auto Shop & Real Estate

      Established Auto Business, 4200 sq ft
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      View Details

    Similar Nearby for Lease

    • Contact for pricing
      7,011 SF

      Akron Retail Space: 7,011 SF

      Prime Akron retail space; high visibility, ample parking.
      1117 Arlington St, Akron, OH 44306
      View Details
    • Contact for pricing
      2,280 SF

      Freestanding Building on Waterloo Road

      Freestanding retail building with frontage on 1.73 acres.
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      View Details
    • Contact for pricing
      Pending

      Akron Fulton Airport "T" Hangars

      Two "T" Hangars at Akron Fulton Airport for rent.
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    • Contact for pricing
      194,000 SF

      Akron Warehouse Space Available

      194,000 square foot warehouse/industrial property for lease in Akron.
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    • Contact for pricing
      11,233 SF

      Industrial Property with Freeway Access

      8-acre industrial site with buildings and dock space for lease.
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      View Details
    • Contact for pricing
      66,243 SF

      Akron Warehouse with High Bay

      286,381 SF warehouse with high ceilings near I-77.
      1503 Exeter Rd, Akron, OH 44306
      View Details
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    Akron, OH 44306-3732
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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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