Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    24 Archwood Ave Akron, OH 44301-1615

    • Commercial real estate
    • 0.16 lot acres
    OFF-MARKET
    Last Sale
    May 31, 2024
    $172,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US66-3621077
    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

    • Commercial real estate

    Property Details for 24 Archwood Ave

    Lot size
    0.16 lot acres
    Property type
    Commercial real estate
    APN
    68-21318
    APU
    6821318

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Akron
    County
    Summit
    State
    Ohio
    Longitude
    -81.5283
    Latitude
    41.0466
    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
    $766
    $2,450
    $5,790
    $8,240
    -
    $7,000
    $16,550
    $23,550

    Comparable in this City

    • Value Estimation by Request
      0.70 Acres

      Dartmore Ave

      COMMERCIAL (GENERAL) • 0.70 Acres
      Dartmore Ave, Akron, OH 44301
      View Details
    • Value Estimation by Request
      1,422 SF

      385 Kenmore Blvd

      COMMERCIAL (GENERAL) • 1,422 SF
      385 Kenmore Blvd, Akron, OH 44301-1053
      View Details
    • Value Estimation by Request
      768 SF

      1958 Firestone Pkwy

      COMMERCIAL (GENERAL) • 768 SF
      1958 Firestone Pkwy, Akron, OH 44301-2423
      View Details
    • Value Estimation by Request
      0.14 Acres

      1205 Andrus St

      COMMERCIAL (GENERAL) • 0.14 Acres
      1205 Andrus St, Akron, OH 44301-1424
      View Details
    • Value Estimation by Request
      2,688 SF

      1295 Curtis St

      COMMERCIAL (GENERAL) • 2,688 SF
      1295 Curtis St, Akron, OH 44301-1431
      View Details
    • Value Estimation by Request
      417 SF

      1513 Aster Ave

      COMMERCIAL (GENERAL) • 417 SF
      1513 Aster Ave, Akron, OH 44301-2104
      View Details

    Similar Nearby for Sale

    • $150,000
      4,800 SF

      Akron Retail Space: Prime Location

      Thriving business, high-growth potential.
      1501 Aster Ave, Akron, OH 44301
      View Details
    • $209,000

      Akron Commercial Building on Main

      Well-maintained commercial building in Akron's Revitalization Zone.
      1379 S Main St, Akron, OH 44301
      View Details
    • $167,500
      1,176 SF

      Akron Duplex: Income Potential

      Side-by-side duplex with updated kitchens and income potential.
      1208-1210 Bellows St, Akron, OH 44301
      View Details
    • $755,556
      14,136 SF

      Retail Property with Long-Term Tenant

      Retail property with a corporately guaranteed lease and renewal options.
      1750 S Main St, Akron, OH 44301
      View Details
    • $450,000
      13,141 SF

      Multi-Tenant Office and Storage Building

      Two-story office building with storage units near I-76.
      148 East Miller Ave, Akron, OH 44301
      View Details
    • $480,000
      13,141 SF

      Akron Office & Storage Complex

      Prime Akron investment: Office & storage.
      148 Miller Ave, Akron, OH 44301
      View Details

    Similar Nearby for Lease

    • $3 SF/Yr
      32,864 SF

      Industrial Warehouse Near Downtown Akron

      32,864 SF industrial warehouse with easy highway access.
      1210 Sweitzer Ave, Akron, OH 44301
      View Details
    • $13 SF/Yr
      3,500 SF

      Akron Office Space For Rent

      Office space available near downtown Akron and major highways.
      1180 S Main St, Akron, OH 44301
      View Details
    • $5 SF/Yr
      400,000 SF

      Akron Warehouse with Rail Access

      400,000 SF warehouse with up to 45' clearance, rail access.
      1558-1564 Firestone Pkwy, Akron, OH 44301
      View Details
    • $1,500 /Mo
      5,401 SF

      Remodeled Commercial Building in Akron

      Remodeled 1,800 sqft commercial building with modern amenities and functionality.
      1152 Grant St, Akron, OH 44301
      View Details
    • Contact for pricing
      10,067 SF

      Industrial Space Available For Lease

      Industrial property available for lease in Akron, Ohio.
      1450-1500 Firestone Pkwy, Akron, OH 44301
      View Details
    • $1,500 /Mo

      Remodeled Commercial Building with Overhead Doors

      Remodeled 1,800 sqft commercial building, ideal for various business ventures.
      1152 Grant St, Akron, OH 44301
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    24 Archwood Ave
    Akron, OH 44301-1615
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.