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Property profile & analytics
OFF-MARKET
Estimated value
$2,430,000
Office buildings
195 Main St, Akron, OH 44308-1314
Individually Owned
1-yr Hold
~
Est. High Equity
Property ID
US66-1510532
Property summary
AI-generated overview
The 195 Building, located at 195 S Main St, Akron, OH 44308, offers exceptional executive office space in a completely renovated Class B building. Originally built in 1966, this four-story structure boasts a total of 21,632 square feet and currently has 19,775 square feet available for lease. The building features four total suites, with minimum divisible space of 3,815 square feet and a maximum contiguous space of 5,651 square feet. Recent renovations by the Schipper Group included a new exterior facade, a new roof, a new HVAC system, and new common lobbies on the first and fourth floors. This prime location in Summit County offers easy access to Akron's vibrant business district. The building is ideal for businesses seeking modern, efficient, and well-maintained office space in a historically significant building. The property's multiple tenancy option provides flexibility for businesses of various sizes. Interested parties are encouraged to inquire about available suite sizes and lease terms. This is a rare opportunity to secure high-quality office space in a revitalized Akron landmark.
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING (MULTI-STORY)
Year built
1966
Total area
24,800 SF
Lot
0.16 ac (7,013 SF)
APN
68-15995
UPID
US66-1510532
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Kaman Fluid Power Factory Industrial Manufacturer
-
195 Building LLC Construction Company General Contractor
-
Knapic Barbara A Law Firm
-
Akron Community Foundation Charitable Organization
-
Big Toy Express (Bike/Boat/Book/etc) Store Arcade & Gaming Center
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$3.24M
Blend (final)
Blend
$2.43M
Owner & transaction history
Milroy Place Limited · 1 yrs held
Milroy Place Limited
since 2024
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$2.7M
+35.6%
Restaurant
$2.6M
+31.9%
Auto repair, garage
$2.5M
+24.0%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Akron submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Akron submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$1,995,000
Current use
MEDICAL BUILDING
$2,705,000
Change: +36% · Conversion: Easy
RESTAURANT
$2,630,000
Change: +32% · Conversion: Moderate
AUTO REPAIR, GARAGE
$2,475,000
Change: +24% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$2,320,000
Change: +16% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$1,690,000
Change: -15% · Conversion: Easy
COMMERCIAL (GENERAL)
$1,655,000
Change: -17% · Conversion: Easy
Blend value · Realmo final
$2.43M
Range $2.19M – $2.67M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$98 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$38,158
Tax year 2023
Assessed value
$410,510
Assessed 2023
Previous assessed
$410,510
+0.0% YoY
Effective rate
9.30%
On assessed value
Assessed land
$15,930
Assessed improvement
$394,580
Land market value
$45,500
Improvement market value
$1,127,380
Total market value
$1,172,880
Applied tax rate
68.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Office buildings
Use group
OFFICE BUILDING (MULTI-STORY)
Status
Off-Market
Year built
1966
Heating
FORCED AIR
Cooling
CENTRAL
Stories
4
Units
7
Bathrooms
2
Total area
24,800 SF
Lot
0.16 ac (7,013 SF)
APN
68-15995
UPID
US66-1510532
Jurisdiction
SUMMIT
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$2.0M
MEDICAL BUILDING
Est. value
$2.7M
RESTAURANT
Est. value
$2.6M
AUTO REPAIR, GARAGE
Est. value
$2.5M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$2.3M
APARTMENT HOUSE (5+ UNITS)
Est. value
$1.7M
COMMERCIAL (GENERAL)
Est. value
$1.7M
OFFICE BUILDING Current
MEDICAL BUILDING
RESTAURANT
AUTO REPAIR, GARAGE
NEIGHBORHOOD: SHOPPING CENTER
APARTMENT HOUSE (5+ UNITS)
COMMERCIAL (GENERAL)
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1966
Heating
FORCED AIR
Cooling
Yes
Stories
4
Units
7
Bathrooms
2
Lot
0.16 ac
Current owner
From public records · entity-resolved
Milroy Place Limited
Individual
Mailing address
195 S MAIN ST STE #200, AKRON, OH 44308-1314
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 25, 2024
—
Milroy Place Limited
Milroy Place Limited
Limited Warranty Deed
—
Sep 8, 2023
$2,300,000
Buckeye State Creit Union INC
The 195 Buildings LLC
Limited Warranty Deed
—
Feb 2, 2017
—
The 195 Building LLC
—
Deed
related
$1,900,000 · Wesbanco Bank INC
May 8, 2009
—
195 Building LLC
—
Deed Of Trust
related
$1,800,000 · Huntington National Bank
Mar 20, 2007
—
195 Building LLC
Schipper David J Trust
Quit Claim Deed
related
—
Feb 17, 1998
—
Schipper Enterprises
—
Deed Of Trust
related
$1,100,000 · Firstmerit Bank NA
—
—
195 Building LLC
—
Deed Of Trust
related
$1,800,000 · Huntington National Bank
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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