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    160 Montrose W Ave Copley, OH 44321-1372
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    Property profile & analytics

    160 Montrose W Ave, Copley, OH 44321-1372

    View on Map
    • Hotels
    • 32,444 SF
    • 1.05 lot acres
    Off-Market
    Last Sale Jul 8, 2022
    $1,100,000
    Property ID
    US66-5483982
    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.
    Value Estimations
    $1,105,000
    Show details
    Cap Rate Potential
    9.6%
    Hotels
    Location Intelligence

    Current Use by Public Records

    • Best Western Plus West Akron Inn & Suites / Hotel & Motel
    • Comfort Inn & Suites / Hotel & Motel
    • Comfort Inn & Suites Copley Akron / Hotel & Motel
    • Tesla Destination Charger / Electric Vehicle Charging Station
    • Blossom music center / Park

    Property Details for 160 Montrose W Ave

    Year built
    1997
    Construction
    FRAME
    Lot size
    1.05 lot acres
    Property type
    Hotels
    APN
    17-02010
    APU
    1702010

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Aug 27, 2024 $2,408,750 Apex Hotels Realty LLC Othi Re LLC Warranty Deed $2.6M · First Chatham Bank
    Jul 8, 2022 $2,500,000 M & L Hospitaltity LLC Kandy Fatheree Sheriffs Deed · related $2.2M · First Chatham Bank
    Sep 7, 2012 — M & L Hospitality LLC Lavani,ram Deed Of Trust · related $1M · West Town Savings Bank
    Mar 19, 2012 — M & L Hospitality LLC Lavani,ram & Pooja Quit Claim Deed · related —
    Feb 28, 2012 $1,100,000 Ram Lavani Sheriff Of Summit County Trustees Deed · related —
    Jan 15, 2008 $2,100,000 Sun Lodging LLC Patel,champakbhai Warranty Deed $2.3M · Huntington National Bank
    Sep 23, 2002 $2,020,000 Champakbhai Patel Priyanka INC Grant Deed $2.3M · National Republic Bank Chicago

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $900,000
      ML approach
      $1,100,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,440,000
      6.5%
      $1,330,000
      7%
      $1,235,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Copley
    County
    Summit
    State
    Ohio
    Longitude
    -81.6545
    Latitude
    41.1299
    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
    $55,154
    $118,340
    $724,730
    $843,070
    -
    $338,100
    $2,070,650
    $2,408,750

    Comparable in this City

    • Value Estimation
      $4,145,000
      96,723 SF

      200 Montrose W Ave

      HOTEL
      200 Montrose W Ave, Copley, OH 44321-2788
      View Details
    • Value Estimation
      $1,770,000
      41,256 SF

      70 Rothrock Loop

      HOTEL
      70 Rothrock Loop, Copley, OH 44321-1331
      View Details
    • Value Estimation by Request
      80,604 SF

      130 Montrose W Ave

      HOTEL
      130 Montrose W Ave, Copley, OH 44321-1372
      View Details
    • Value Estimation
      $2,380,000
      37,284 SF

      170 Montrose W Ave

      HOTEL
      170 Montrose W Ave, Copley, OH 44321-1372
      View Details
    • Value Estimation
      $3,660,000
      8,308 SF

      120 Montrose W Ave

      HOTEL
      120 Montrose W Ave, Copley, OH 44321-1590
      View Details
    • Value Estimation
      $3,660,000
      42,993 SF

      185 Montrose W Ave

      HOTEL
      185 Montrose W Ave, Copley, OH 44321-1371
      View Details

    Similar Nearby for Sale

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      Development-Ready Commercial Land

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      Established Assisted Living Business Opportunity

      Turnkey assisted living business with real estate options.
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      Prime Development Site on Medina

      Two-acre commercial land with high visibility and frontage.
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      Prime Commercial Land I-77 Frontage

      37 acres of commercial land with I-77 visibility.
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    Similar Nearby for Lease

    • Contact for pricing
      1,907 SF

      Akron Office Space Available

      Office space for lease with fitness center and conference rooms.
      202 Montrose Ave W, Akron, OH 44321
      View Details
    • Contact for pricing
      1,600 SF

      Second Floor Office Suite

      Flexible 1,600 SF office suite available for rent.
      3636 Copley Rd, Akron, OH 44321
      View Details
    • Contact for pricing
      3,600 SF

      Retail Space in Fairlawn Trade

      3,600 SF retail space in robust Fairlawn trade area.
      4432 Medina Rd, Akron, OH 44321
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    • Contact for pricing
      2,288 SF

      Akron Office Space Available

      Office space for rent in Akron, Ohio.
      175 Montrose Ave W, Akron, OH 44321
      View Details
    • Contact for pricing
      6,125 SF

      Restaurant/Retail Space Near Summit Mall

      Restaurant or retail property with high visibility and traffic.
      110 Montrose Ave W, Akron, OH 44321
      View Details
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    Copley, OH 44321-1372
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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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