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Property profile & analytics
FOR SALE
Commercial real estate
62 N Summit St, Akron, OH 44308
Entity Owned
10-yr Hold
Free & Clear
Property ID
US66-1643930
For Sale
1 / 2
$1,900,000
62 N Summit St, Akron, OH 44308
View Listing →
Property profile
Verified
Property type
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Year built
2011
Total area
14,856 SF
Lot
0.86 ac (37,462 SF)
APN
67-63287
UPID
US66-1643930
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Akron PolyEnergy, Inc (Bike/Boat/Book/etc) Store Corporate Office
-
Akron Polymer Systems Factory Production Facility
-
IP Lab Services Consultant
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.53M
Blend (final)
Blend
$1.24M
Owner & transaction history
Summit Holdings LLC · 10 yrs held
Summit Holdings LLC
since 2015
4 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$1.6M
+63.4%
Restaurant
$1.6M
+58.9%
Auto repair, garage
$1.5M
+49.4%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Akron submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Akron submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$990,000
Current use
MEDICAL BUILDING
$1,620,000
Change: +63% · Conversion: Easy
RESTAURANT
$1,575,000
Change: +59% · Conversion: Difficult
AUTO REPAIR, GARAGE
$1,480,000
Change: +49% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$1,390,000
Change: +40% · Conversion: Difficult
OFFICE BUILDING
$1,195,000
Change: +20% · Conversion: Easy
APARTMENT HOUSE (5+ UNITS)
$1,010,000
Change: +2% · Conversion: Moderate
RETAIL STORES
$845,000
Change: -15% · Conversion: Easy
Blend value · Realmo final
$1.24M
Range $1.11M – $1.36M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$83 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$37,636
Tax year 2023
Assessed value
$124,760
Assessed 2023
Previous assessed
$124,760
+0.0% YoY
Effective rate
30.17%
On assessed value
Assessed land
$81,980
Assessed improvement
$42,780
Land market value
$234,230
Improvement market value
$122,230
Total market value
$356,460
Applied tax rate
67.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Status
For Sale
Year built
2011
Heating
FORCED AIR
Cooling
CENTRAL
Stories
1
Units
1
Total area
14,856 SF
Lot
0.86 ac (37,462 SF)
APN
67-63287
UPID
US66-1643930
Jurisdiction
SUMMIT
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL) Current
Est. value
$990,000
MEDICAL BUILDING
Est. value
$1.6M
RESTAURANT
Est. value
$1.6M
AUTO REPAIR, GARAGE
Est. value
$1.5M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$1.4M
OFFICE BUILDING
Est. value
$1.2M
APARTMENT HOUSE (5+ UNITS)
Est. value
$1.0M
RETAIL STORES
Est. value
$845,000
COMMERCIAL (GENERAL) Current
MEDICAL BUILDING
RESTAURANT
AUTO REPAIR, GARAGE
NEIGHBORHOOD: SHOPPING CENTER
OFFICE BUILDING
APARTMENT HOUSE (5+ UNITS)
RETAIL STORES
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
2011
Heating
FORCED AIR
Cooling
Yes
Stories
1
Units
1
Lot
0.86 ac
Current owner
From public records · entity-resolved
Summit Holdings LLC
Entity
Free & Clear · 10 yrs held
Mailing address
62 N SMT ST, AKRON, OH 44308-1941
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2015
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 4, 2015
$1,150,000
Summit Holdings LLC
Akron Polymer Systems INC
Quit Claim Deed
related
—
Mar 22, 2011
—
Akron Polymer Systems INC
—
Grant Deed
related
$1,275,000 · Huntington National Bank
Dec 4, 2009
—
City Of Akron
City Of Akron
Quit Claim Deed
—
Oct 11, 2006
—
City Of Akron
Freedman N Living Trust
Warranty Deed
related
—
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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