520 N Arlington St Akron, OH 44305
- Showrooms
- 12,250 SF
- 3.85 lot acres
Current Use by Public Records
- Botzum Bros. Hardware / Door Supplier
Property Details for 520 N Arlington St
- Year built
- 1956
- Lot size
- 3.85 lot acres
- Property size
- 12,250 SF
- Property type
- Showrooms
- APN
- 67-09918
- APU
- 6709918
Description
This stabilized industrial investment opportunity in Akron, Ohio, presents a compelling return. The property comprises a 12,250 sq ft main building, a 2,189 sq ft outbuilding, and a 302 sq ft storage shed, all situated on a 4.4-acre lot at 506-520 N. Arlington St. The main building, originally an 8,000 sq ft warehouse, features a 4,250 sq ft addition with office and warehouse space. A flat rubber membrane roof (2001) has been consistently maintained. The building boasts two 10x10 drive-in doors, with potential for more. Inside, find 14' ceilings, heat, and 3-phase power (400 amps/240 volts). The outbuilding, constructed six years ago, offers five 10x10 drive-in doors and 14' ceilings, but lacks power, heat, and air conditioning. Ample paved area and excess land allow for future building expansion. The property's proximity to Summa Health's Akron Campus and Route 8 enhances its value. The current single tenant lease is a Net Net + (NN+) arrangement, with a 5-year term commencing January 6, 2020, and expiring December 31, 2029, including a 5-year renewal option. The property boasts a 7.03% cap rate and a Net Operating Income (NOI) of $50,945. Four parcels (APN: 6709918, 6843760, 6843761, 6843762) are included. Rent bumps are included in the lease. The property is zoned for industrial use and offers potential rail access.
Value Estimations
-
AI approach
- Method
- Estimation
- ML approach
- $335,000
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Location Insight
- Map
- Local Demand
- City
- Akron
- County
- Summit
- State
- Ohio
- Longitude
- -81.4916
- Latitude
- 41.0866
- CBSA code
- 10420
- CBSA name
- AKRON, OH METROPOLITAN STATISTICAL AREA
