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    424 Turkeyfoot Lk Rd, Unit 446 New Franklin, OH 44319-3449
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    Property profile & analytics

    424 Turkeyfoot Lk Rd, Unit 446 New Franklin, OH 44319-3449

    View on Map
    • Strip malls
    • 22,532 SF
    • 1.42 lot acres
    Off-Market
    Property ID
    US66-2695654
    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
    $655,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Strip malls

    Property Details for 424 Turkeyfoot Lk Rd

    Year built
    1948
    Lot size
    1.42 lot acres
    Property size
    22,532 SF
    Property type
    Strip malls
    Property subtype
    Shopping centers
    APN
    26-00720
    APU
    2600720

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $415,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $398,000
      Market price range: $399k - $944k

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

    Location Insight

    • Map
    • Local Demand
    City
    New Franklin
    County
    Summit
    State
    Ohio
    Longitude
    -81.5368
    Latitude
    40.9805
    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
    $13,267
    $54,050
    $152,510
    $206,560
    -
    $154,430
    $435,740
    $590,170

    Comparable in this City

    • Value Estimation
      $1,380,000
      37,690 SF

      493 Portage Lks Dr, Unit 503

      SHOPPING CENTER, STRIP CENTER • 37,690 SF
      493 Portage Lks Dr, Coventry Township, OH 44319-2205
      View Details
    • Value Estimation
      $970,000
      34,400 SF

      470 Portage Lks Dr

      SHOPPING CENTER, STRIP CENTER • 34,400 SF
      470 Portage Lks Dr, Coventry Township, OH 44319-2290
      View Details
    • Value Estimation
      $845,000
      10,332 SF

      3440 Manchester Rd, Unit 3454

      SHOPPING CENTER, STRIP CENTER • 10,332 SF
      3440 Manchester Rd, Coventry Township, OH 44319-1469
      View Details
    • Value Estimation by Request
      6,920 SF

      5191 Manchester Rd, Unit 5199

      SHOPPING CENTER, STRIP CENTER • 6,920 SF
      5191 Manchester Rd, New Franklin, OH 44319-3911
      View Details
    • Value Estimation by Request
      11,952 SF

      3290 Main St, Unit 3296

      SHOPPING CENTER, STRIP CENTER • 11,952 SF
      3290 Main St, Coventry Township, OH 44319-2448
      View Details
    • Value Estimation by Request
      18,256 SF

      3415 Manchester Rd, Unit 3427

      SHOPPING CENTER, STRIP CENTER • 18,256 SF
      3415 Manchester Rd, Coventry Township, OH 44319-1412
      View Details

    Similar Nearby for Sale

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      Waterfront Dining & Entertainment Portfolio

      Two historic waterfront landmarks with dining, entertainment, and mixed-use potential.
      530 Portage Lakes Dr, Akron, OH 44319
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      Pizza Hut in Akron, OH

      NNN leased Pizza Hut with long-term lease and annual rent.
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    • $89,000
      0.48 Acres

      Prime Commercial Land Opportunity

      B-1 zoned land in Portage Lakes area, ideal for development.
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      S. Arlington Rd Development Site

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    Similar Nearby for Lease

    • $8 SF/Yr
      7,619 SF

      Grocery Anchored Retail Space

      Retail spaces available in grocery-anchored center near Portage Lakes.
      3963-4045 S Main St, Akron, OH 44319
      View Details
    • Contact for pricing
      2,380 SF

      Grocery-Anchored Shopping Center Space

      Retail space available in established Akron shopping center.
      3333 Manchester Rd, Akron, OH 44319
      View Details
    • Contact for pricing

      Grocery Anchored Shopping Center Space

      Easily accessible shopping center with great visibility and parking.
      3235 Manchester Rd, Akron, OH 44319
      View Details
    • Contact for pricing

      Grocery Anchored Shopping Center

      Shopping center with great visibility and convenient parking.
      3235 Manchester Rd, Akron, OH 44319
      View Details
    • Contact for pricing

      Target Anchored Shopping Center Space

      Retail space available in a busy, highway-visible shopping center.
      790 Arlington Rdg, New Franklin, OH 44319
      View Details
    • Contact for pricing

      Retail Center Near Portage Lakes

      Grocery-anchored retail center in close proximity to Portage Lakes.
      4045-4049 S Main St, Akron, OH 44319
      View Details
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    New Franklin, OH 44319-3449
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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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    424 Turkeyfoot Lk Rd, New Franklin, OH, 44319
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