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

    797 Market St Akron, OH 44305-2450

    • Commercial real estate
    • 44,632 SF
    • 0.61 lot acres
    OFF-MARKET
    Value Estimations
    $3,475,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US66-6129031
    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

    • The 797 Building / Extended Stay Hotel / Hotel
    • Alexander Pierce Restaurant / Restaurant
    • Screen Suites / Restaurant / Theater & Performing Art Venue
    • Coat Room Lounge / Bar & Pub / Nightclub
    • Colehouse Designs / Marketing & Advertising / (Bike/Boat/Book/etc) Store

    Property Details for 797 Market St

    Year built
    1965
    Lot size
    0.61 lot acres
    Property size
    44,632 SF
    Property type
    Commercial real estate
    APN
    67-01071
    APU
    6701071

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $2,859,000
      Market price range: $910k - $4.78M
      AI Estimate
      $3,344,000
      Market price range: $1.05M - $5.60M

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $2,750,000
      Current use
      MEDICAL BUILDING
      $4,870,000
      Change: +77% Conversion: Easy
      RESTAURANT
      $4,735,000
      Change: +72% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $4,450,000
      Change: +62% Conversion: Difficult
      NEIGHBORHOOD: SHOPPING CENTER
      $4,170,000
      Change: +52% Conversion: Difficult
      OFFICE BUILDING
      $3,590,000
      Change: +31% Conversion: Easy
      APARTMENT HOUSE (5+ UNITS)
      $3,040,000
      Change: +11% Conversion: Moderate
      RETAIL STORES
      $2,535,000
      Change: -8% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Akron
    County
    Summit
    State
    Ohio
    Longitude
    -81.4926
    Latitude
    41.0747
    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
    $29,936
    $30,490
    $322,930
    $353,420
    -
    $87,110
    $922,650
    $1,009,760

    Comparable in this City

    • Value Estimation by Request
      0.12 Acres

      157 Brittain Rd

      COMMERCIAL (GENERAL) • 0.12 Acres
      157 Brittain Rd, Akron, OH 44305-4109
      View Details
    • Value Estimation
      $840,000
      43,335 SF

      71 Elinor Ave

      SHOW ROOM, WAREHOUSE • 43,335 SF
      71 Elinor Ave, Akron, OH 44305-4044
      View Details
    • Value Estimation by Request
      4,697 SF

      90 Elinor Ave

      SHOW ROOM, WAREHOUSE • 4,697 SF
      90 Elinor Ave, Akron, OH 44305-4043
      View Details
    • Value Estimation
      $1,250,000
      13,489 SF

      1099 Evans Ave

      SHOW ROOM, WAREHOUSE • 13,489 SF
      1099 Evans Ave, Akron, OH 44305-1061
      View Details
    • Value Estimation
      $1,145,000
      26,000 SF

      1615 Market St

      COMMERCIAL (GENERAL) • 26,000 SF
      1615 Market St, Akron, OH 44305-4210
      View Details
    • Value Estimation
      $1,085,000
      11,168 SF

      955 Evans Ave

      SHOW ROOM, WAREHOUSE • 11,168 SF
      955 Evans Ave, Akron, OH 44305-1041
      View Details

    Similar Nearby for Sale

    • $70,000
      0.20 Acres

      Akron Commercial Land - $70K

      Prime Akron location, 0.198 acres, high traffic.
      1519 Market St, Akron, OH 44305
      View Details
    • $299,900
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      Prime Akron Industrial Land

      1.39 Acres, I-76 Access, $299,900
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    • Contact for pricing
      0.70 Acres

      Prime Akron Commercial Land

      0.7-acre retail lot, high traffic area.
      888 Market St, Akron, OH 44305
      View Details
    • $299,900

      1.39 Acre I-76 Intersection Lot

      1.39 acre lot zoned I-2 near I-76.
      2626 Gilchrist Rd, Akron, OH 44305
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    • $550,000
      10,302 SF

      Renovated Office Building Near I-76

      10,302 SF office building with renovated interior and convenient location.
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    • Contact for pricing
      3,591 SF

      Prime Akron QSR with Drive-Thru

      3,591 SF Restaurant on 2.52 Acres
      2695 Gilchrist Rd, Akron, OH 44305
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    Similar Nearby for Lease

    • $13 SF/Yr
      9,540 SF

      Prime Akron Retail Space

      9,540 SF Former Family Dollar
      19 Arlington St, Akron, OH 44305
      View Details
    • Contact for pricing
      55,481 SF

      Akron Flex Space with Cranes

      55,481 SF flex space with cranes for lease.
      3028-3030 Gilchrist Rd, Akron, OH 44305
      View Details
    • $5,000 /Mo
      43,560 SF

      Akron Warehouse with Large Door

      6,000 SF warehouse space for lease near downtown Akron.
      1051 Eastwood Ave, Akron, OH 44305
      View Details
    • $12 SF/Yr
      672 SF

      Fairlawn Office Space For Rent

      Office campus in Fairlawn's West Market Corridor available for rent.
      3200-3250 W Market St, Fairlawn, OH 44305
      View Details
    • Contact for pricing
      11,450 SF

      Retail Space Near Whole Foods

      Retail space with high visibility near a new development.
      1880 W Market St, Akron, OH 44305
      View Details
    • Contact for pricing
      5,490 SF

      Retail/Office Space with Ample Parking

      Well-managed retail or office space in established area.
      2126 Eastwood Ave, Akron, OH 44305
      View Details
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    797 Market St
    Akron, OH 44305-2450
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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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