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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    640 Main St Akron, OH 44310-3017

    • Office buildings
    • 9,240 SF
    • 0.38 lot acres
    OFF-MARKET
    Last Sale
    Jul 11, 2022
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US66-2802181
    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

    • Senior Wyze Senior Care & Assisted Living Akron / Nursing Home / Retirement Community
    • Mortgage Refinance Akron OH - Home Refinance Ohio - Refi Home Loan Mortgage Lenders / Bank / Credit Union
    • PATH Behavioral Healthcare / Counselor
    • PWT Kitchen Renovation Service LLC / Hardware & Home Improvement / Interior Design

    Property Details for 640 Main St

    Year built
    1928
    Lot size
    0.38 lot acres
    Property size
    9,240 SF
    Property type
    Office buildings
    APN
    67-15090
    APU
    6715090

    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
    Akron
    County
    Summit
    State
    Ohio
    Longitude
    -81.5115
    Latitude
    41.1027
    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
    $4,545
    $14,620
    $30,530
    $45,150
    -
    $41,770
    $87,230
    $129,000

    Comparable in this City

    • Value Estimation
      $1,510,000
      5,820 SF

      313 Boyle St

      OFFICE BUILDING • 5,820 SF
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    • Value Estimation by Request
      1,414 SF

      545 Cuyahoga Fls Ave

      OFFICE BUILDING • 1,414 SF
      545 Cuyahoga Fls Ave, Akron, OH 44310-1550
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    • Value Estimation by Request
      1,388 SF

      1570 Brittain Rd

      OFFICE BUILDING • 1,388 SF
      1570 Brittain Rd, Akron, OH 44310-2738
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    • Value Estimation by Request
      1,500 SF

      1561 Brittain Rd, Unit 1587

      OFFICE BUILDING • 1,500 SF
      1561 Brittain Rd, Akron, OH 44310-2717
      View Details
    • Value Estimation
      $800,000
      6,540 SF

      1210 Brownstone Ave

      OFFICE BUILDING • 6,540 SF
      1210 Brownstone Ave, Akron, OH 44310-3978
      View Details
    • Value Estimation
      $1,495,000
      12,978 SF

      1200 Brownstone Ave

      OFFICE BUILDING • 12,978 SF
      1200 Brownstone Ave, Akron, OH 44310-3978
      View Details

    Similar Nearby for Sale

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      28,000 SF

      Brittain Road Office/Retail Complex

      Akron, OH investment opportunity: 19 units, fully leased.
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      View Details
    • $5,984,000
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      Akron Warehouse with Temp Controlled Storage

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      0.22 Acres

      Akron, OH Land For Sale

      Land available in Akron, OH.
      1191 Big Falls Ave, Akron, OH 44310
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    • $1,330,000
      28,000 SF

      Fully Leased Akron Retail Building

      28,000 SF brick building with office and retail tenants.
      1717 Brittain Rd, Akron, OH 44310
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    • Contact for pricing
      108,743 SF

      Established Retail Location For Sale

      High-traffic retail corridor with a long-term operating history.
      1677 Home Ave, Akron, OH 44310
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    • $575,000

      Commercial Land with Retail Potential

      1.08 acres with existing structures and retail zoning.
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    Similar Nearby for Lease

    • Contact for pricing
      1,752 SF

      Akron Office Space Available

      Office space for rent in Akron, Ohio.
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    • $8 SF/Yr
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      North Hill Office Space Available

      900 SF office unit in Akron's North Hill area.
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    • $7 SF/Yr
      5,000 SF

      Akron Warehouse with Office Space

      5,000 SF flex space with warehouse and office components.
      1340 Home Ave, Akron, OH 44310
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    • $7 SF/Yr
      5,000 SF

      Akron Industrial Flex Unit

      5,000 SF industrial flex unit near Route 8 and 261.
      1340 Home Ave, Akron, OH 44310
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    • $10,000 /Mo
      9,688 SF

      Versatile Industrial and Manufacturing Space

      Spacious warehouse and office areas in a prime Akron location.
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    • $8 SF/Yr
      3,000 SF

      Akron Medical Office Space

      Prime Akron medical office, two suites available.
      1037 Main St, Akron, OH 44310
      View Details
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    640 Main St
    Akron, OH 44310-3017
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    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
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