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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    2841 Riviera Dr Fairlawn, OH 44333-3413

    • Office buildings
    • 15,036 SF
    • 0.55 lot acres
    OFF-MARKET
    Last Sale
    May 22, 2023
    $985,000
    Value Estimations
    $905,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US66-0811289
    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

    • Office buildings

    Property Details for 2841 Riviera Dr

    Year built
    1970
    Lot size
    0.55 lot acres
    Property size
    15,036 SF
    Property type
    Office buildings
    APN
    09-01550
    APU
    901550

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $915,000
      ML approach
      $1,010,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $880,000
      Market price range: $813k - $1.96M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $1,440,000
      Current use
      AUTO REPAIR, GARAGE
      $1,500,000
      Change: +4% Conversion: Difficult
      NEIGHBORHOOD: SHOPPING CENTER
      $1,405,000
      Change: -3% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Fairlawn
    County
    Summit
    State
    Ohio
    Longitude
    -81.6121
    Latitude
    41.128
    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
    $16,783
    $56,700
    $237,810
    $294,510
    -
    $162,000
    $679,460
    $841,460

    Comparable in this City

    • Value Estimation
      $1,110,000
      115,644 SF

      3800 Embassy Pkwy

      OFFICE BUILDING (MULTI-STORY) • 115,644 SF
      3800 Embassy Pkwy, Akron, OH 44333-8387
      View Details
    • Value Estimation by Request
      53,684 SF

      395 Springside Dr

      OFFICE BUILDING • 53,684 SF
      395 Springside Dr, Akron, OH 44333-2434
      View Details
    • Value Estimation
      $1,110,000
      60,676 SF

      250 Cleveland Massillon Rd

      OFFICE BUILDING • 60,676 SF
      250 Cleveland Massillon Rd, Akron, OH 44333-2479
      View Details
    • Value Estimation
      $900,000
      57,412 SF

      320 Springside Dr

      OFFICE BUILDING (MULTI-STORY) • 57,412 SF
      320 Springside Dr, Akron, OH 44333-2435
      View Details
    • Value Estimation
      $885,000
      59,864 SF

      350 Springside Dr

      OFFICE BUILDING (MULTI-STORY) • 59,864 SF
      350 Springside Dr, Akron, OH 44333-2435
      View Details
    • Value Estimation
      $970,000
      84,096 SF

      260 Springside Dr

      OFFICE BUILDING • 84,096 SF
      260 Springside Dr, Akron, OH 44333-2433
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      24,600 SF

      Office Building in Akron, OH

      Office building with 24,600 square feet of space.
      1070 Ghent Rd, Akron, OH 44333
      View Details
    • $520,000
      8,000 SF

      Akron Office Building For Sale

      8,000 SF office building available in Akron, OH.
      50 Baker Blvd, Akron, OH 44333
      View Details
    • New
      $1,175,000
      0.78 Acres

      Fairlawn Commercial Building For Sale

      Versatile 12,495 sq. ft. commercial building on 0.78 acres.
      82 N Miller Rd, Fairlawn, OH 44333
      View Details
    • $1,650,000
      14,136 SF

      Fairlawn Office Building For Sale

      Two-story office building in Fairlawn's business district with ample parking.
      3517 Embassy Pkwy, Akron, OH 44333
      View Details
    • $424,000
      4,200 SF

      Fairlawn Office Building For Sale

      Office building in high-demand area with seller financing.
      71 Baker Blvd, Akron, OH 44333
      View Details
    • $415,000
      0.11 Acres

      Class A Fairlawn Office Condominium

      Premier Fairlawn office condominium with modern finishes and functional layout.
      822 Kumho Dr, Fairlawn, OH 44333
      View Details

    Similar Nearby for Lease

    • $21 SF/Yr
      5,621 SF

      Iconic Office Building in Akron

      Three-level, 5,621 SF office building with historical charm.
      481-491 N Cleveland Massillon Rd, Akron, OH 44333
      View Details
    • $13 SF/Yr
      4,343 SF

      Office Building Sublease Opportunity

      Flexible office space available for sublease near I-77.
      325 Springside Dr, Akron, OH 44333
      View Details
    • $21 SF/Yr
      5,621 SF

      Historic Office Building in Bath

      Renovated Victorian-style office building with modern amenities.
      481 N Cleveland Massillon Rd, Akron, OH 44333
      View Details
    • $15 SF/Yr
      34,213 SF

      Class A Office Space Available

      Class A office building with fitness center and park-like setting.
      367 Ghent Rd, Akron, OH 44333
      View Details
    • $12 SF/Yr
      136,029 SF

      Fairlawn Office Campus For Lease

      Office campus in Fairlawn's West Market Corridor, near Summit Mall.
      3250 West Market St, Akron, OH 44333
      View Details
    • $700 /Mo
      150 SF

      Fairlawn Executive Office Suites

      Executive office suites for rent in Fairlawn, Ohio.
      123 S Miller Rd, Fairlawn, OH 44333
      View Details
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    2841 Riviera Dr
    Fairlawn, OH 44333-3413
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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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