Add Listing
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    562 Portage Lks Dr Coventry Township, OH 44319-2258

    • Turn key restaurants
    • 11,720 SF
    • 0.40 lot acres
    OFF-MARKET
    Last Sale
    Apr 16, 2020
    $358,500
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US66-1933502
    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.

    Current Use by Public Records

    • Turn key restaurants

    Property Details for 562 Portage Lks Dr

    Year built
    1900
    Construction
    FRAME
    Lot size
    0.40 lot acres
    Property size
    11,720 SF
    Property type
    Turn key restaurants
    APN
    19-10046
    APU
    1910046

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Coventry Township
    County
    Summit
    State
    Ohio
    Longitude
    -81.5381
    Latitude
    40.9973
    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
    $20,975
    $48,680
    $219,080
    $267,760
    -
    $139,080
    $625,940
    $765,020

    Comparable in this City

    • Value Estimation by Request
      1,620 SF

      3458 Manchester Rd, Unit 3466

      RESTAURANT • 1,620 SF
      3458 Manchester Rd, Coventry Township, OH 44319-1436
      View Details
    • Value Estimation by Request
      2,562 SF

      3822 Main St

      RESTAURANT • 2,562 SF
      3822 Main St, Akron, OH 44319-3696
      View Details
    • Value Estimation by Request
      7,206 SF

      423 Waterloo Rd

      RESTAURANT • 7,206 SF
      423 Waterloo Rd, Akron, OH 44319-1220
      View Details
    • Value Estimation by Request
      8,110 SF

      491 Waterloo Rd

      RESTAURANT • 8,110 SF
      491 Waterloo Rd, Akron, OH 44319-1241
      View Details
    • Value Estimation by Request
      1,200 SF

      5949 Manchester Rd

      RESTAURANT • 1,200 SF
      5949 Manchester Rd, New Franklin, OH 44319-4610
      View Details
    • Value Estimation by Request
      4,078 SF

      2727 Manchester Rd

      RESTAURANT • 4,078 SF
      2727 Manchester Rd, Akron, OH 44319-1020
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      3,029 SF

      Pizza Hut in Akron, OH

      NNN leased Pizza Hut with long-term lease and annual rent.
      2665 Manchester Rd, Akron, OH 44319
      View Details
    • Contact for pricing
      1.00 Acre

      Prime Akron Outlot for Lease

      ±1-acre commercial outlot near Portage Lakes.
      4045-4049 Main St, Akron, OH 44319
      View Details
    • $450,000
      4,950 SF

      Akron Mixed-Use Commercial Building

      Prime Akron location, flexible space, high ROI potential.
      3200 Main St, Akron, OH 44319
      View Details
    • Contact for pricing
      15,712 SF

      Stonewall Auto Repair Investment Opportunity

      NNN leased Stonewall Auto Repair in Akron, Ohio for sale.
      147 E Waterloo Rd, Akron, OH 44319
      View Details
    • Contact for pricing
      28,324 SF

      Industrial Property with Tenant Income

      28,324 SF property with tenant income until 2028.
      2655 S Arlington Rd, Akron, OH 44319
      View Details
    • $428,600
      1.89 Acres

      Manchester Road Mixed-Use Property

      1.88 Acres, B-3 Zoning, Huge Potential
      3550 Manchester Rd, Akron, OH 44319
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      53,719 SF

      South Main Centre Retail Spaces

      Grocery-anchored retail center, prime location.
      4045 Main St, Akron, OH 44319
      View Details
    • $20 SF/Yr
      16,007 SF

      Akron Office Space for Lease

      Prime Akron office suites, renovated 2022.
      445 Turkeyfoot Lake Rd, Akron, OH 44319
      View Details
    • $11 SF/Yr
      600 SF

      Akron Retail/Office Space

      600 sq ft, high-traffic location, $575/month.
      3442 Manchester Rd, Akron, OH 44319
      View Details
    • Contact for pricing
      213,119 SF

      Portage Lakes Plaza Retail Land

      Akron, OH retail land investment opportunity.
      3235 Manchester Rd, Akron, OH 44319
      View Details
    • Contact for pricing
      5,500 SF

      Arlington Ridge Marketplace Retail Space

      High-traffic retail space, Green, OH. Target-anchored center.
      790 Arlington Rdg, New Franklin, OH 44319
      View Details
    • $8 SF/Yr
      65,600 SF

      Grocery Anchored Retail Center Space

      Retail space in grocery-anchored center near Portage Lakes State Park.
      4045 S Main St, Akron, OH 44319
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    562 Portage Lks Dr
    Coventry Township, OH 44319-2258
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!