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

    2968 Albrecht Ave Akron, OH 44312

    • Residential income homes
    • 2,160 SF
    • 0.29 lot acres
    OFF-MARKET
    Value Estimations
    $270,000
    Show details
    Cap Rate Potential
    7.3%
    Residential income homes
    Location Intelligence
    Property ID
    US66-2239100
    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

    • Residential income homes

    Property Details for 2968 Albrecht Ave

    Year built
    1930
    Lot size
    0.29 lot acres
    Property size
    2,160 SF
    Property type
    Residential income homes
    Property subtype
    Small apartment buildings
    APN
    51-08030
    APU
    5108030

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $270,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $330,000
      6.5%
      $305,000
      7%
      $285,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $222,000
      Market price range: $75.9k - $223k
      AI Estimate
      $228,000
      Market price range: $98.8k - $229k

    • Alternative Use

      Use
      Estimation
      MEDICAL BUILDING
      $235,000
      AUTO REPAIR, GARAGE
      $215,000
      NEIGHBORHOOD: SHOPPING CENTER
      $200,000
      COMMERCIAL (GENERAL)
      $180,000
      OFFICE BUILDING
      $175,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Akron
    County
    Summit
    State
    Ohio
    Longitude
    -81.4238
    Latitude
    41.0433
    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
    $2,243
    $9,790
    $41,700
    $51,490
    -
    $27,970
    $119,130
    $147,100

    Comparable in this City

    • Value Estimation
      $365,000
      2,720 SF

      3036 Mogadore Rd

      APARTMENT HOUSE (UNDER 5 UNITS) • 2,720 SF
      3036 Mogadore Rd, Akron, OH 44312-1836
      View Details
    • Value Estimation
      $265,000
      2,744 SF

      3002 Mogadore Rd

      APARTMENT HOUSE (UNDER 5 UNITS) • 2,744 SF
      3002 Mogadore Rd, Akron, OH 44312-1841
      View Details
    • Value Estimation
      $280,000
      3,024 SF

      2672 Chelsea Dr

      APARTMENT HOUSE (UNDER 5 UNITS) • 3,024 SF
      2672 Chelsea Dr, Akron, OH 44312-3941
      View Details
    • Value Estimation
      $270,000
      2,842 SF

      2280 Englewood Ave

      APARTMENT HOUSE (UNDER 5 UNITS) • 2,842 SF
      2280 Englewood Ave, Akron, OH 44312-1246
      View Details
    • Value Estimation
      $725,000
      5,049 SF

      2571 Rhoadesdale Ave

      APARTMENT HOUSE (UNDER 5 UNITS) • 5,049 SF
      2571 Rhoadesdale Ave, Akron, OH 44312-3353
      View Details
    • Value Estimation
      $355,000
      2,400 SF

      3048 Mogadore Rd

      APARTMENT HOUSE (UNDER 5 UNITS) • 2,400 SF
      3048 Mogadore Rd, Akron, OH 44312-1838
      View Details

    Similar Nearby for Sale

    • $199,900
      3,744 SF

      Akron Mixed-Use Investment Opportunity

      Prime Akron location, updated commercial space & residential unit.
      3120 Albrecht Ave, Akron, OH 44312
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      Akron Duplex: Investment Opportunity

      Brick duplex in Akron, generating $20,700 annually, investment opportunity.
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      Akron Duplex with Income Potential

      Income-generating duplex in Akron's Ellet neighborhood with value-add potential.
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      $184,999
      Pending

      Akron Multifamily Home with Suite

      Multifamily home with apartment suite, ideal for extended family.
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      $184,999
      Pending

      Akron Multifamily Property with Income Potential

      Multifamily property in Akron, OH, ideal for investors or homeowners.
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    • $264,900
      Pending

      Lakemore Duplex with Lake Views

      Well-maintained duplex with lake views, strong rental potential.
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    Similar Nearby for Lease

    • $15 SF/Yr
      8,262 SF

      Akron Medical Office Space

      8,262 SF Medical Building, 5,775 SF Available
      1600 Turkeyfoot Lake Rd, Akron, OH 44312
      View Details
    • $6,000 /Mo
      2,877 SF

      Former Restaurant on Canton Road

      Restaurant space for lease with high traffic volume.
      1266 Canton Rd, Akron, OH 44312
      View Details
    • Contact for pricing
      7,376 SF

      Akron Warehouse Space Available

      7,376 SF Warehouse - Prime Akron Location
      2420 Wedgewood Dr, Akron, OH 44312
      View Details
    • $11 SF/Yr
      3,768 SF

      Office Space with Separate Entrance

      Office space for rent with lower level and ADA access.
      3469 Fortuna Dr, Akron, OH 44312
      View Details
    • $10 SF/Yr
      1,670 SF

      Flex/Office Unit For Lease

      1,670 sq ft flex/office unit with open floor plan.
      3485 Fortuna Dr, Akron, OH 44312
      View Details
    • Contact for pricing
      800 SF

      Community Shopping Center Retail Space

      Retail spaces available in community shopping center near major routes.
      1492-1500 Canton Rd, Akron, OH 44312
      View Details
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    2968 Albrecht Ave
    Akron, OH 44312
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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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