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    Property profile & analytics

    1525 Hawkins Ave Akron, OH 44320

    • Grocery and convenience stores
    • 31,024 SF
    • 3.04 lot acres
    For Lease
    View listing
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US66-1478195
    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

    • Huntington Mortgage Group / Mortgage Lender
    • Huntington Bank / Atm / Bank
    • Huntington Insurance / Insurance Agency
    • RSVP State Liquor / Liquor Store
    • Huntington Bank ATM (Drive-Up) / Atm

    Property Details for 1525 Hawkins Ave

    Year built
    1952
    Lot size
    3.04 lot acres
    Property size
    31,024 SF
    Property type
    Grocery and convenience stores
    APN
    68-14147
    APU
    6814147

    Description

    Hawkins Plaza, a single-story, 12.356-acre retail center in Akron, Ohio (APN: 6814148, 6814147, 6857682), offers a prime opportunity for businesses seeking high visibility and accessibility. Built in 1952 and zoned U-3, this Class C property boasts ample parking and a strong tenant mix including RSVP Food & Party Outlet, Planet Fitness, Family Dollar, Rent-A-Center, H&R Block, Huntington Bank, Subway, Octapharma Plasma, Metro PCS, Kick's Lounge Shoe Store, Broadway Beauty, and Nails 90 Nail Salon. Currently, one 1,924 square foot space is available. The property enjoys excellent visibility and convenient access, situated very close to the I-77 and I-76 interchange, and just blocks from a new Amazon distribution center. Its location in a densely populated area ensures high traffic and customer potential. This is a dominant retail center with a proven track record of success. The property consists of one building with multiple suites.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,788,000
      Market price range: $934k - $2.93M

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $1,760,000
      Current use
      OFFICE BUILDING
      $2,495,000
      Change: +42% Conversion: Easy
      APARTMENT HOUSE (5+ UNITS)
      $2,110,000
      Change: +20% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $2,070,000
      Change: +18% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Akron
    County
    Summit
    State
    Ohio
    Longitude
    -81.5677
    Latitude
    41.0679
    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
    $37,055
    $74,600
    $338,130
    $412,730
    -
    $213,150
    $966,080
    $1,179,230

    Comparable in this City

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    • Value Estimation
      $2,885,000
      60,292 SF

      1520 Vernon Odom Blvd, Unit 1526

      GROCERY, SUPERMARKET • 60,292 SF
      1520 Vernon Odom Blvd, Akron, OH 44320-4028
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    • Value Estimation by Request
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      1448 Copley Rd

      GROCERY, SUPERMARKET • 2,860 SF
      1448 Copley Rd, Akron, OH 44320-2655
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    • Value Estimation
      $1,435,000
      14,844 SF

      2100 Romig Rd

      GROCERY, SUPERMARKET • 14,844 SF
      2100 Romig Rd, Akron, OH 44320-3822
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    • Value Estimation
      $745,000
      16,584 SF

      1375 Copley Rd

      GROCERY, SUPERMARKET • 16,584 SF
      1375 Copley Rd, Akron, OH 44320-2652
      View Details
    • Value Estimation by Request
      2,750,060 SF

      2450 Romig Rd

      SHOW ROOM, WAREHOUSE • 2,750,060 SF
      2450 Romig Rd, Akron, OH 44320-3827
      View Details

    Similar Nearby for Sale

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      1.20 Acres

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      Prime Akron location, former restaurant site.
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    Similar Nearby for Lease

    • Contact for pricing
      1,875 SF

      Retail Space on South Hawkins

      Retail space available on South Hawkins near Wooster Road.
      1559-1571 S Hawkins Ave, Akron, OH 44320
      View Details
    • $7 SF/Yr
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      Retail/Office Space For Lease

      Retail or office space available with parking and signage.
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      2,200 SF

      Retail or Medical Office Space

      Storefront space available for retail or medical office use.
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    • $8 SF/Yr
      9,000 SF

      Retail/Office Space Near Amazon Center

      Retail and office units with convenient highway access and signage.
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      1,924 SF

      Retail Space in Dominant Center

      Highly visible retail space with great access and parking.
      1525-1611 S Hawkins Ave, Akron, OH 44320
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    • Contact for pricing

      Hawkins Plaza Retail Center

      Akron, OH Strip Mall - 1,924 sq ft Available
      1525 Hawkins Ave, Akron, OH 44320
      View Details
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    1525 Hawkins Ave
    Akron, OH 44320
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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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