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    2547 Manchester Rd Akron, OH 44319
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    2547 Manchester Rd Akron, OH 44319

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    • Small apartment buildings
    Off-Market
    Property ID
    US66-2107900
    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
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Small apartment buildings

    Property Details for 2547 Manchester Rd

    Property type
    Small apartment buildings

    Description

    This exceptional 18-unit apartment building in Akron, Ohio, presents a turnkey investment opportunity. All units are one-bedroom, one-bathroom apartments, each with a private garden entrance, eliminating common hallways and interior spaces. Ample on-site parking is available for residents. The property has undergone extensive renovations, boasting over $80,000 in capital improvements within the last 18 months, ensuring it's market-ready and in excellent condition. Current market rents range from $795 to $825 per month, plus electricity, generating strong cash flow from day one. The seller covers water, sewer, trash, gas for heating (boiler), and hot water. The property benefits from professional property management already in place, minimizing vacancy rates and maximizing rental income. Its strategic location near highways, central Akron, manufacturing facilities, and the Portage Lakes offers high demand and potential for increased rental rates. The property's zip code (44319) qualifies it for higher rent rates through programs like AMHA and HUD/VASH, providing additional income opportunities. This well-maintained building is a stable investment with significant upside potential, making it an attractive option for discerning investors. The current property management company is willing to continue their services, ensuring a smooth transition for the new owner.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Akron
    County
    Summit
    State
    Ohio
    Longitude
    -81.5463025
    Latitude
    41.0295257

    Comparable in this City

    • $259,000
      2,000 SF

      Akron Triplex with Garage

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    • New
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      Updated Duplex in Portage Lakes

      Move-in ready duplex with modern finishes in Akron's Portage Lakes.
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    • $119,900
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      Multifamily Property on Large Lot

      Duplex with four kitchens and bathrooms on 0.64 acres.
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    • $89,000
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      Prime Commercial Land Opportunity

      B-1 zoned land in Portage Lakes area, ideal for development.
      4138 S Main St, Akron, OH 44319
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      S. Arlington Rd Development Site

      Development site located adjacent to Dollar General store.
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      Commercial Outlot Near Portage Lakes

      Commercial outlot available for ground lease or sale.
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    Similar Nearby for Sale

    • $259,000
      2,000 SF

      Akron Triplex with Garage

      Triplex in quiet neighborhood with garage and ample parking.
      61 Leicester Dr, Akron, OH 44319
      View Details
    • New
      $257,500
      2,530 SF

      Updated Duplex in Portage Lakes

      Move-in ready duplex with modern finishes in Akron's Portage Lakes.
      206 Olivet Ave, Akron, OH 44319
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    • $119,900
      3,420 SF

      Multifamily Property on Large Lot

      Duplex with four kitchens and bathrooms on 0.64 acres.
      6090 Manchester Rd, New Franklin, OH 44319
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    • $89,000
      0.48 Acres

      Prime Commercial Land Opportunity

      B-1 zoned land in Portage Lakes area, ideal for development.
      4138 S Main St, Akron, OH 44319
      View Details
    • Contact for pricing

      S. Arlington Rd Development Site

      Development site located adjacent to Dollar General store.
      Buena Vista Dr, New Franklin, OH 44319
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    • Contact for pricing

      Commercial Outlot Near Portage Lakes

      Commercial outlot available for ground lease or sale.
      4045-4049 S Main St, Akron, OH 44319
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    Similar Nearby for Lease

    • Contact for pricing

      Grocery Anchored Shopping Center Space

      Shopping center space with great visibility and convenient parking.
      3235 Manchester Rd, Akron, OH 44319
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      Prime Commercial Land Available

      0.84 AC site with high traffic and strong demographics.
      3030 Manchester Rd, Akron, OH 44319
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      Retail Center Near Portage Lakes

      Grocery-anchored retail center in close proximity to Portage Lakes.
      4045-4049 S Main St, Akron, OH 44319
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      Commercial Land For Rent

      1.16 acre commercial land available for rent.
      497 E Waterloo Rd, Akron, OH 44319
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      Grocery Anchored Shopping Center

      Shopping center with great visibility and convenient parking.
      3235 Manchester Rd, Akron, OH 44319
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    • Contact for pricing

      Green Single Room Suites Available

      Single room suites available for rent starting from $325/month.
      445 East Turkeyfoot Lake Rd, Akron, OH 44319
      View Details
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    2547 Manchester Rd
    Akron, OH 44319
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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.

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