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    Property profile & analytics

    2329 Romig Rd Akron, OH 44320

    • Turn key restaurants
    • 5,368 SF
    • 1.01 lot acres
    For Sale
    View listing
    $325,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US66-6169722
    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

    • Denny's / American Restaurant

    Property Details for 2329 Romig Rd

    Year built
    1978
    Lot size
    1.01 lot acres
    Property size
    5,368 SF
    Property type
    Turn key restaurants
    APN
    67-23509
    APU
    6723509

    Description

    This freestanding, single-story office building in Akron, Ohio, presents a unique investment opportunity. Boasting 5,368 square feet, the property is situated on 1.01 acres and benefits from a recent 2023 renovation, updating a 1978 structure. The building is zoned UPD (Planned Development) and offers two restrooms. Located conveniently near I-77 (approximately one mile away), this Class B building is priced at $325,000, translating to $60.54 per square foot. While a lease is currently in place at $3,500 per month on a NNN basis, the sale provides an excellent opportunity for owner-occupancy or a strong investment return. The property's versatile design makes it suitable for a variety of creative or medical office uses. The address is 2329 Romig Rd, Akron, OH 44320, in Summit County.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $270,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $229,000
      Market price range: $229k - $1.04M
      AI Estimate
      $357,000
      Market price range: $357k - $1.02M

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

    Location Insight

    • Map
    • Local Demand
    City
    Akron
    County
    Summit
    State
    Ohio
    Longitude
    -81.58
    Latitude
    41.0511
    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
    $6,077
    $11,630
    $19,860
    $31,490
    -
    $33,230
    $56,740
    $89,970

    Comparable in this City

    • Value Estimation
      $135,000
      1,423 SF

      1827 Copley Rd

      RESTAURANT • 1,423 SF
      1827 Copley Rd, Akron, OH 44320-2540
      View Details
    • Value Estimation
      $295,000
      6,440 SF

      1655 Hawkins Ave

      RESTAURANT • 6,440 SF
      1655 Hawkins Ave, Akron, OH 44320-4033
      View Details
    • Value Estimation
      $295,000
      1,941 SF

      1604 Hawkins Ave

      RESTAURANT • 1,941 SF
      1604 Hawkins Ave, Akron, OH 44320-4034
      View Details
    • Value Estimation
      $270,000
      2,528 SF

      1438 Copley Rd

      RESTAURANT • 2,528 SF
      1438 Copley Rd, Akron, OH 44320-2655
      View Details
    • Value Estimation
      $280,000
      1,092 SF

      1308 Copley Rd

      RESTAURANT • 1,092 SF
      1308 Copley Rd, Akron, OH 44320-2747
      View Details
    • Value Estimation
      $90,000
      6,048 SF

      2088 Copley Rd

      RESTAURANT • 6,048 SF
      2088 Copley Rd, Akron, OH 44320-1557
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      1,823 SF

      Akron QSR with Drive-Thru

      Vacant Fast Food Restaurant, Prime Location
      2522 Romig Rd, Akron, OH 44320
      View Details
    • Contact for pricing
      2,059 SF

      Akron Commercial Kitchen with Drive-Thru

      2,059 SF commercial kitchen with drive-thru, near Amazon Hub.
      2546 Romig Rd, Akron, OH 44320
      View Details
    • $1,248,000
      10,645 SF

      Family Dollar Net Lease Investment

      Akron, OH: Strong Net Lease Investment
      970 Copley Rd, Akron, OH 44320
      View Details
    • $155,000
      2,400 SF

      Akron Retail Space & Apartment

      Downtown Akron Investment Opportunity
      539 East Ave, Akron, OH 44320
      View Details
    • Contact for pricing
      Pending

      Akron Commercial Property Auction

      Prime commercial property near Amazon Fulfillment Center with development potential.
      2052 Romig Rd, Akron, OH 44320
      View Details
    • $90,000
      5.80 Acres

      Akron Land: 5.8 Acres Development Opportunity

      Prime Akron land, ideal for residential or retail development.
      0 Romig Rd, Akron, OH 44320
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      1,823 SF

      Akron Drive-Thru Restaurant Opportunity

      Prime QSR location, 1823 SF, FF&E included.
      2520 Romig Rd, Akron, OH 44320
      View Details
    • Contact for pricing
      7,939 SF

      Akron Retail Space: 7,939 SF

      Prime Akron retail space available. Excellent visibility & high traffic.
      1621 Frederick Blvd, Akron, OH 44320
      View Details
    • $7 SF/Yr
      3,000 SF

      Retail/Office Space For Lease

      Retail or office space available with parking and signage.
      2495 Romig Rd, Akron, OH 44320
      View Details
    • Contact for pricing

      Hawkins Plaza Retail Center

      Akron, OH Strip Mall - 1,924 sq ft Available
      1525 Hawkins Ave, Akron, OH 44320
      View Details
    • 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
    • $8 SF/Yr
      9,000 SF

      Prime Retail Space, Romig Road

      High-traffic location, 9,000 sq ft available
      2170 Romig Rd, Akron, OH 44320
      View Details
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    2329 Romig Rd
    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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