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    25 Miller Ave Akron, OH 44301-1221
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    Property profile & analytics

    25 Miller Ave, Akron, OH 44301-1221

    View on Map
    • Grocery and convenience stores
    • 16,250 SF
    • 0.56 lot acres
    Off-Market
    Last Sale Jun 7, 2024
    $790,000
    Property ID
    US66-4283082
    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
    $790,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Save A Lot / Grocery & Convenience Store / Food Market
    • Amazon Hub Locker - Tattoo / Marketing & Advertising / IT Consulting Firm

    Property Details for 25 Miller Ave

    Year built
    1950
    Lot size
    0.56 lot acres
    Property type
    Grocery and convenience stores
    APN
    68-61707
    APU
    6861707

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Jun 7, 2024 $790,000 Akron 25 LLC Q Bunch LLC Warranty Deed $632k · North Valley Bank
    Feb 4, 2015 $1,000,000 Q Bunch LLC Cmd Miller LLC Grant Deed $800k · Citizens Bkng
    Jul 2, 2014 — Cmd Miller LLC City Of Akron Quit Claim Deed · related $630k · First Fed'l S&l/lakewood

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $790,000
      ML approach
      $790,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $512,000
      Market price range: $489k - $1.53M
      AI Estimate
      $636,000
      Market price range: $636k - $1.65M

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $925,000
      Current use
      OFFICE BUILDING
      $1,305,000
      Change: +42% Conversion: Easy
      APARTMENT HOUSE (5+ UNITS)
      $1,105,000
      Change: +20% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $1,085,000
      Change: +18% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Akron
    County
    Summit
    State
    Ohio
    Longitude
    -81.5303
    Latitude
    41.0568
    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
    $16,755
    $19,180
    $53,630
    $72,810
    -
    $54,800
    $153,220
    $208,020

    Comparable in this City

    • Value Estimation
      $995,000
      14,136 SF

      1750 Main St

      GROCERY, SUPERMARKET
      1750 Main St, Akron, OH 44301-2452
      View Details
    • Value Estimation by Request
      3,960 SF

      187 Ira Ave

      GROCERY, SUPERMARKET
      187 Ira Ave, Akron, OH 44301-1118
      View Details
    • Value Estimation by Request
      836 SF

      1415 Main St

      RETAIL STORES (PERSONAL SERVICES)
      1415 Main St, Akron, OH 44301-1652
      View Details
    • Value Estimation by Request
      5,012 SF

      1082 Brown St

      RETAIL STORES (PERSONAL SERVICES)
      1082 Brown St, Akron, OH 44301-1506
      View Details
    • Value Estimation by Request
      3,309 SF

      1235 Grant St

      RETAIL STORES (PERSONAL SERVICES)
      1235 Grant St, Akron, OH 44301-1849
      View Details
    • Value Estimation by Request
      11,958 SF

      1447 Main St

      RETAIL STORES (PERSONAL SERVICES)
      1447 Main St, Akron, OH 44301-1651
      View Details

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    • Contact for pricing
      14,136 SF

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      Retail property with a corporately guaranteed lease and renewal options.
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      Mixed-Use Property on Corner Lot

      Mixed-use property suitable for retail, office, or medical use.
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      Akron Automotive Shop Opportunity

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      Akron Retail Space: Prime Location

      Thriving business, high-growth potential.
      1501 Aster Ave, Akron, OH 44301
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      990 SF

      Mixed-Use Space Near Route 8

      Mixed-use property suitable for office, retail, or medical use.
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      Akron Land For Sale

      Land available in Akron, Ohio.
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    Similar Nearby for Lease

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      91,000 SF

      Akron Warehouse with Rail Potential

      Strategically located warehouse space with potential rail access available for lease.
      120 Cole Ext, Akron, OH 44301
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      47,000 SF

      Akron Office Space For Rent

      Office space available near downtown Akron and major highways.
      1180 S Main St, Akron, OH 44301
      View Details
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      Warehouse with Secure Outdoor Storage

      32,864 SF warehouse with 1.16 acres secured storage.
      1210 Sweitzer Ave, Akron, OH 44301
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    • 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
    • Contact for pricing

      Commercial Land For Rent

      1.16 acre commercial land available for rent.
      497 E Waterloo Rd, Akron, OH 44301
      View Details
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    Akron, OH 44301-1221
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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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