2797 Waterloo Rd Akron, OH 44312-3946
Property profile & analytics
2797 Waterloo Rd Akron, OH 44312-3946
- Turn key restaurants
- 2,483 SF
- 1.14 lot acres
Property ID
US66-2309540
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.
Location Intelligence
Current Use by Public Records
- Pizza Hut / Take-out & Catering
Property Details for 2797 Waterloo Rd
- Year built
- 1975
- Lot size
- 1.14 lot acres
- Property size
- 2,483 SF
- Property type
- Turn key restaurants
- APN
- 51-09364
- APU
- 5109364
Description
This exceptional investment opportunity presents a fee-simple ownership of a Pizza Hut restaurant located at 2797 E Waterloo Rd, Akron, OH 44312, in Summit County. The property encompasses a 2,529 square foot building situated on approximately one acre of land. The property is currently operating under a 20-year absolute triple-net (NNN) lease, commencing February 21, 2022, and expiring February 27, 2042, leaving a substantial 17.3 years remaining. The current annual net operating income (NOI) is $75,058, representing a 6.00% capitalization rate based on the asking price of $1,250,968 ($494.65 per square foot). The lease includes six, five-year renewal options, potentially extending the lease term to 50 years. Annual rent increases of 1.75% are scheduled to commence in year seven and continue throughout the renewal periods. The tenant is a Pizza Hut franchisee. This offering presents a strong, long-term investment with a highly recognizable brand and significant upside potential due to the built-in rent escalations and lease renewal options. The property's location in Akron, Ohio, provides excellent visibility and accessibility. This is a 100% occupied, single-tenant property offering a secure and stable income stream.
Value Estimations
based on Realmo’s proprietary methodology
-
AI approach
- Method
- Estimation
- Statistic approach
- $1,200,000
- ML approach
- $1,190,000
Get a detailed, property-specific estimation — fast and free
Location Insight
- Map
- Local Demand
- City
- Akron
- County
- Summit
- State
- Ohio
- Longitude
- -81.4296
- Latitude
- 41.032
- 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
$11,810
$21,740
$144,520
$166,260
-
$62,100
$412,900
$475,000
