520 N Arlington St Akron, OH 44305

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.

Location Insight

City

Akron

County

Summit

State

Ohio

Longitude

-81.4916

Latitude

41.0866

CBSA code

10420

CBSA name

AKRON, OH METROPOLITAN STATISTICAL AREA

Property Tax & Assessments