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Property profile & analytics
OFF-MARKET
Estimated value
$5,205,000
Parking lots & garages
388 Bowery St Akron, OH 44307
Individually Owned
6-yr Hold
Free & Clear
Property ID
US66-1319494
Property profile
Verified
Property type
Parking lots & garages
Use group
PARKING GARAGE, PARKING STRUCTURE
Year built
2004
Total area
48,504 SF
Lot
1.43 ac (62,204 SF)
APN
67-62310
UPID
US66-1319494
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$5.46M
Blend (final)
Blend
$5.21M
Owner & transaction history
Tell Companies Ltd · 6 yrs held
Tell Companies Ltd
since 2020
4 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$5.3M
+11.2%
Restaurant
$5.1M
+8.2%
Auto repair, garage
$4.8M
+1.7%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Akron submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Akron submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
PARKING LOT
$4,755,000
Current use
MEDICAL BUILDING
$5,290,000
Change: +11% · Conversion: Difficult
RESTAURANT
$5,145,000
Change: +8% · Conversion: Difficult
AUTO REPAIR, GARAGE
$4,835,000
Change: +2% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$4,535,000
Change: -5% · Conversion: Difficult
OFFICE BUILDING
$3,900,000
Change: -18% · Conversion: Difficult
Blend value · Realmo final
$5.21M
Range $4.68M – $5.73M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$107 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$64,103
Tax year 2023
Assessed value
$661,530
Assessed 2023
Previous assessed
$661,530
+0.0% YoY
Effective rate
9.69%
On assessed value
Assessed land
$92,490
Assessed improvement
$569,040
Land market value
$264,250
Improvement market value
$1,625,840
Total market value
$1,890,090
Applied tax rate
67.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Parking lots & garages
Use group
PARKING GARAGE, PARKING STRUCTURE
Status
Off-Market
Year built
2004
Heating
NONE
Cooling
NONE
Stories
1
Units
1
Total area
48,504 SF
Lot
1.43 ac (62,204 SF)
APN
67-62310
UPID
US66-1319494
Jurisdiction
SUMMIT
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
PARKING LOT Current
Est. value
$4.8M
MEDICAL BUILDING
Est. value
$5.3M
RESTAURANT
Est. value
$5.1M
AUTO REPAIR, GARAGE
Est. value
$4.8M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$4.5M
OFFICE BUILDING
Est. value
$3.9M
PARKING LOT Current
MEDICAL BUILDING
RESTAURANT
AUTO REPAIR, GARAGE
NEIGHBORHOOD: SHOPPING CENTER
OFFICE BUILDING
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
2004
Heating
NONE
Cooling
Yes
Stories
1
Units
1
Lot
1.43 ac
Current owner
From public records · entity-resolved
Tell Companies Ltd
Individual
Free & Clear · 6 yrs held
Ownership since
2020
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 8, 2020
—
Tell Companies Ltd
City Of Akron
Quit Claim Deed
related
—
Dec 19, 2019
—
Tell Companies Ltd
—
Grant Deed
related
$7,908,711 · First Nat'l Bk/pa
Dec 13, 2019
—
Tell Companies Ltd
City Of Akron
Quit Claim Deed
related
—
Jun 5, 2017
—
Tell Companies Ltd
—
Grant Deed
related
$35,000,000 · First Nat'l Bk/pa
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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