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

    2967 State Rd Cuyahoga Falls, OH 44223-1242

    • Medical offices
    • 3,450 SF
    • 1.07 lot acres
    OFF-MARKET
    Last Sale
    Feb 29, 2024
    Value Estimations
    $450,000
    Show details
    Cap Rate Potential
    8.8%
    Medical offices
    Location Intelligence
    Property ID
    US66-1598093
    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

    • Hometown Urgent Care / Doctor / Urgent Care Center

    Property Details for 2967 State Rd

    Year built
    2003
    Lot size
    1.07 lot acres
    Property size
    3,450 SF
    Property type
    Medical offices
    Property subtype
    Medical centers
    APN
    35-02089
    APU
    3502089

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $410,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $600,000
      6.5%
      $550,000
      7%
      $515,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $416,000
      Market price range: $155k - $417k
      AI Estimate
      $398,000
      Market price range: $100k - $398k

    • Alternative Use

      Use
      Estimation
      MEDICAL BUILDING
      $280,000
      Current use
      AUTO REPAIR, GARAGE
      $345,000
      Change: +23% Conversion: Difficult
      NEIGHBORHOOD: SHOPPING CENTER
      $320,000
      Change: +15% Conversion: Difficult
      OFFICE BUILDING
      $280,000
      Change: +0% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Cuyahoga Falls
    County
    Summit
    State
    Ohio
    Longitude
    -81.5083
    Latitude
    41.1528
    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
    $37,045
    $44,770
    $496,120
    $540,890
    -
    $127,920
    $1,417,490
    $1,545,410

    Comparable in this City

    • Value Estimation
      $370,000
      8,256 SF

      1520 Portage Trl

      MEDICAL BUILDING • 8,256 SF
      1520 Portage Trl, Cuyahoga Falls, OH 44223-2121
      View Details
    • Value Estimation
      $440,000
      21,354 SF

      3033 State Rd

      MEDICAL BUILDING • 21,354 SF
      3033 State Rd, Cuyahoga Falls, OH 44223-3614
      View Details
    • Value Estimation
      $305,000
      5,758 SF

      1707 Portage Trl

      MEDICAL BUILDING • 5,758 SF
      1707 Portage Trl, Cuyahoga Falls, OH 44223-1738
      View Details
    • Value Estimation
      $100,000
      2,320 SF

      2028 Schiller Ave

      MEDICAL BUILDING • 2,320 SF
      2028 Schiller Ave, Cuyahoga Falls, OH 44223-1721
      View Details
    • Value Estimation
      $370,000
      9,270 SF

      2503 State Rd

      MEDICAL BUILDING • 9,270 SF
      2503 State Rd, Cuyahoga Falls, OH 44223-1602
      View Details
    • Value Estimation
      $455,000
      3,456 SF

      3305 State Rd

      MEDICAL BUILDING • 3,456 SF
      3305 State Rd, Cuyahoga Falls, OH 44223-2659
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      15,506 SF

      Cuyahoga Falls Office For Sale

      Office space in a well-connected commercial corridor.
      2680 North Haven Blvd, Cuyahoga Falls, OH 44223
      View Details
    • Contact for pricing
      4.75 Acres

      4.75-Acre Cuyahoga Falls Land

      Development-ready commercial land, prime location.
      620 Portage Trail Ext, Cuyahoga Falls, OH 44223
      View Details
    • $450,000
      4.75 Acres

      Stow Warehouse Land: 4.75 Acres

      Prime Stow industrial land, ideal for warehouse development.
      174 Steels Corners Rd, Cuyahoga Falls, OH 44223
      View Details
    • $209,000
      2.28 Acres

      Cuyahoga Falls Commercial Land

      2.28 acres, MU-3 zoning, build-to-suit potential.
      Cuyahoga Falls, OH 44223
      View Details
    • $1,850,000
      6,796 SF

      Advance Auto Parts: Cuyahoga Falls

      Net-leased auto parts store, strong ROI.
      2249 State Rd, Cuyahoga Falls, OH 44223
      View Details
    • Contact for pricing
      5.84 Acres

      Portage Trail Ext. Retail Land

      Five parcels, prime Cuyahoga Falls location.
      31 Portage Trail Ext, Cuyahoga Falls, OH 44223
      View Details

    Similar Nearby for Lease

    • $18 SF/Yr
      5,244 SF

      Medical/Office Suite For Rent

      5,244 RSF medical/office suite available for rent.
      210 Portage Trail Ext West, Cuyahoga Falls, OH 44223
      View Details
    • $14 SF/Yr
      1,450 SF

      Updated Office Space For Rent

      Office space with modern updates and ample parking available.
      1604-1612 Portage Trail Ext, Cuyahoga Falls, OH 44223
      View Details
    • $12 SF/Yr
      800 SF

      Retail/Office Space in Cuyahoga

      800 SF retail or office space with ample parking.
      2695 N Haven Blvd, Cuyahoga Falls, OH 44223
      View Details
    • $875 /Mo
      1,000 SF

      Office Suite in Cuyahoga Falls

      Second floor office suite with private offices and kitchenette.
      149 Portage Trail Ext, Cuyahoga Falls, OH 44223
      View Details
    • $7 SF/Yr
      1,500 SF

      Cuyahoga Falls Office Space Available

      Office space for rent in Cuyahoga Falls, Ohio.
      207-209 Portage Trail Ext, Cuyahoga Falls, OH 44223
      View Details
    • $10 SF/Yr
      12,000 SF

      Portage View East Office Suites

      Cuyahoga Falls Office Space for Lease
      209 Portage Trail Ext, Cuyahoga Falls, OH 44223
      View Details
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    2967 State Rd
    Cuyahoga Falls, OH 44223-1242
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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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