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    4040 Embassy Pkwy Akron, OH 44333
    Property profile & analytics

    4040 Embassy Pkwy Akron, OH 44333

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    • Medical Office Space
    • 54,976 SF
    • 3.46 lot acres
    For Lease
    $19 SF/Yr
    View Listing →
    Embassy Exchange Office Space Available For Lease
    $19 SF/Yr
    17,521 SF

    Embassy Exchange Office Space Available

    50,556 RSF office building with renovated amenities for rent.

    4040 Embassy Parkway, Akron, OH 44333
    View Listing
    Property ID
    US66-1953554
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • CBIZ / Business To Business Service / Financial Consultant
    • Sovereign Chemical Company / Chemical Plant
    • INPATIENT MEDICAL SERVICES / Corporate Office
    • CooksonPeirce / Bank / Credit Union
    • Ruport Co / Law Firm

    Property Details for 4040 Embassy Pkwy

    Year built
    1991
    Lot size
    3.46 lot acres
    Property size
    54,976 SF
    Property type
    Medical Office Space
    Property subtype
    Medical centers
    APN
    04-05799
    APU
    405799

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $4,068,000
      Market price range: $2.92M - $8.51M
      AI Estimate
      $2,582,000
      Market price range: $1.35M - $7.17M

    • Alternative Use

      Use
      Estimation
      MEDICAL BUILDING
      $5,995,000
      Current use
      RESTAURANT
      $5,830,000
      Change: -3% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $5,485,000
      Change: -9% Conversion: Difficult
      OFFICE BUILDING
      $5,270,000
      Change: -12% Conversion: Easy
      NEIGHBORHOOD: SHOPPING CENTER
      $5,140,000
      Change: -14% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Akron
    County
    Summit
    State
    Ohio
    Longitude
    -81.6538
    Latitude
    41.138
    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
    $85,155
    $381,470
    $913,900
    $1,295,370
    -
    $1,089,900
    $2,611,150
    $3,701,050

    Comparable in this City

    • Value Estimation
      $23,550,000
      164,214 SF

      3557 Embassy Pkwy

      MEDICAL BUILDING • 164,214 SF
      3557 Embassy Pkwy, Akron, OH 44333-8358
      View Details
    • Value Estimation
      $855,000
      5,776 SF

      3523 Commercial Dr

      MEDICAL BUILDING • 5,776 SF
      3523 Commercial Dr, Fairlawn, OH 44333-5107
      View Details
    • Value Estimation
      $1,770,000
      11,724 SF

      762 Cleveland Massillon Rd

      MEDICAL BUILDING • 11,724 SF
      762 Cleveland Massillon Rd, Fairlawn, OH 44333-3024
      View Details
    • Value Estimation by Request
      6,696 SF

      3535 Granger Rd

      MEDICAL BUILDING • 6,696 SF
      3535 Granger Rd, Akron, OH 44333-1538
      View Details
    • Value Estimation
      $1,235,000
      10,725 SF

      270 Cleveland Massillon Rd

      MEDICAL BUILDING • 10,725 SF
      270 Cleveland Massillon Rd, Fairlawn, OH 44333-6000
      View Details
    • Value Estimation
      $520,000
      6,226 SF

      3632 Ridgewood Rd

      MEDICAL BUILDING • 6,226 SF
      3632 Ridgewood Rd, Fairlawn, OH 44333-3124
      View Details

    Similar Nearby for Sale

    • $424,000

      Fairlawn Office/Medical District Opportunity

      Office/medical building in Fairlawn, Ohio with seller financing available.
      71 Baker Blvd, Fairlawn, OH 44333
      View Details
    • $1,250,000
      10,560 SF

      Prime Montrose Office Space

      Exceptional office building in the desirable Montrose business district.
      291 N Cleveland Massillon Rd, Akron, OH 44333
      View Details
    • $199,900
      0.05 Acres

      Fairlawn Medical Office Suite

      Functional medical office with great visibility and natural light.
      3500 W Market St, Fairlawn, OH 44333
      View Details
    • Contact for pricing
      1,706 SF

      Copley Converted Home For Sale

      1,706 SF converted home on 1.36 acres in Copley.
      278 S Cleveland Massillon Rd, 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
    • Contact for pricing

      Office Condo on Two Levels

      5,458 SF office condo ideal for owner-occupant or investor.
      302 N Cleveland Massillon Rd, Akron, OH 44333
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      4,343 SF

      Office Building Sublease Opportunity

      Flexible office space available for sublease near I-77.
      325 Springside Dr, Akron, OH 44333
      View Details
    • $3,350 /Mo
      17,001 SF

      Fairlawn Office Space For Lease

      Flexible office suites available in a prime Fairlawn location.
      70 N Miller Rd, Fairlawn, OH 44333
      View Details
    • $2,755 /Mo
      Pending

      Fairlawn Office Space For Lease

      Office suites available in a well-maintained building with high visibility.
      70 N Miller Rd, Fairlawn, OH 44333
      View Details
    • $10 SF/Yr
      14,429 SF

      Fairlawn Office Sublease Opportunity

      Furnished office space available for sublease in Fairlawn.
      703 South Cleveland Massillon Rd, Fairlawn, OH 44333
      View Details
    • $2,958 /Mo
      650 SF

      First Floor Office Suite

      Office suite with private entrance and highway access.
      3631 Brookwall Dr, Fairlawn, OH 44333
      View Details
    • Contact for pricing
      1,800 SF

      Fairlawn Office Space Available

      Multi-tenant office building with suites available for rent.
      3480 W Market St, Akron, OH 44333
      View Details
    View Listing
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    Akron, OH 44333
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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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