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

    563 Colony Park Dr Tallmadge, OH 44278-2859

    • Hospitals
    • 47,900 SF
    • 5.00 lot acres
    OFF-MARKET
    Last Sale
    May 20, 2024
    Value Estimations
    $2,395,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US66-0798883
    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

    • Lauren N. Sponseller, COTA / Physician
    • The Colony Healthcare Center / Nursing Home
    • Lisa Boden / Physician

    Property Details for 563 Colony Park Dr

    Year built
    1980
    Lot size
    5.00 lot acres
    Property size
    47,900 SF
    Property type
    Hospitals
    APN
    60-06138
    APU
    6006138

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,785,000
      ML approach
      $1,825,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $3,180,000
      Market price range: $2.52M - $6.76M
      AI Estimate
      $2,802,000
      Market price range: $1.43M - $5.61M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $3,720,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Tallmadge
    County
    Summit
    State
    Ohio
    Longitude
    -81.4357
    Latitude
    41.0854
    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
    $88,322
    $97,780
    $1,113,380
    $1,211,160
    -
    $279,380
    $3,181,080
    $3,460,460

    Comparable in this City

    • Value Estimation by Request
      2,508 SF

      591-593 Pheasant Run

      HOSPITAL - PRIVATE • 2,508 SF
      591-593 Pheasant Run, Tallmadge, OH 44278
      View Details
    • Value Estimation by Request
      1,822 SF

      867 Nwnw Ave

      HOSPITAL - PRIVATE • 1,822 SF
      867 Nwnw Ave, Tallmadge, OH 44278-1207
      View Details
    • Value Estimation by Request
      1,736 SF

      369 Ee Ave

      HOSPITAL - PRIVATE • 1,736 SF
      369 Ee Ave, Tallmadge, OH 44278-2017
      View Details
    • Value Estimation by Request
      2,362 SF

      661 Deerwood Dr

      HOSPITAL - PRIVATE • 2,362 SF
      661 Deerwood Dr, Tallmadge, OH 44278-2006
      View Details
    • Value Estimation by Request
      1,445 SF

      389 Grn Hl Dr

      HOSPITAL - PRIVATE • 1,445 SF
      389 Grn Hl Dr, Tallmadge, OH 44278-2466
      View Details
    • Value Estimation
      $5,490,000
      39,975 SF

      1134 Nn Ave

      HOSPITAL - PRIVATE • 39,975 SF
      1134 Nn Ave, Tallmadge, OH 44278-1065
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      134,000 SF

      Tallmadge Industrial Warehouse For Sale

      134,000 SF industrial warehouse on 21.459 acres available.
      342 West Ave, Tallmadge, OH 44278
      View Details
    • $250,000

      Retail Land Near Eastwood Square

      Commercial land for sale near established retail area.
      South Ave, Tallmadge, OH 44278
      View Details
    • $75,000

      Industrially Zoned Land For Sale

      0.57 acres of industrially zoned land in Tallmadge, Ohio.
      Commerce St, Tallmadge, OH 44278
      View Details
    • $69,000
      1.31 Acres

      Eastwood Ave Industrial Land Plot

      1.31-acre industrial lot, prime location.
      0 Eastwood Ave, Akron, OH 44278
      View Details
    • $299,000
      2,998 SF

      Executive Office Condo, Tallmadge, OH

      Prime Tallmadge Office: 2,998 SF, High Occupancy
      10 Northwest Ave, Tallmadge, OH 44278
      View Details
    • $159,000
      2.37 Acres

      Tallmadge Commercial Land - $159K

      Prime 2.37-acre commercial lot.
      187 Northwest Ave, Tallmadge, OH 44278
      View Details

    Similar Nearby for Lease

    • $6 SF/Yr
      4,000 SF

      Tallmadge Industrial Flex Unit

      4,000 SF industrial flex unit in Tallmadge, Ohio.
      391 Geneva Ave, Tallmadge, OH 44278
      View Details
    • $6 SF/Yr
      4,000 SF

      Tallmadge Industrial Flex Unit

      4,000 SF flex unit with warehouse and office space.
      391 Geneva Ave, Tallmadge, OH 44278
      View Details
    • Contact for pricing
      12,287 SF

      Eastwood Square Retail Spaces

      High-traffic retail spaces available in Tallmadge, OH
      574 South Ave, Tallmadge, OH 44278
      View Details
    • $8 SF/Yr
      6,048 SF

      Tallmadge Office Space Available

      Office space for lease in a quiet Tallmadge office park.
      143 Northwest Ave, Tallmadge, OH 44278
      View Details
    • Contact for pricing
      4,000 SF

      Warehouse with Office and Dock

      4,000 SF warehouse space with office and dock.
      425-445 Munroe Falls Rd, Tallmadge, OH 44278
      View Details
    • Contact for pricing
      31,000 SF

      Owens Corning Tech Center Lease

      Prime Summit County Office/R&D Space
      275-277 Southwest Ave, Tallmadge, OH 44278
      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.
    563 Colony Park Dr
    Tallmadge, OH 44278-2859
    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!