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

    863 Market St Akron, OH 44305-2442

    • Office buildings
    • 1,608 SF
    • 0.09 lot acres
    OFF-MARKET
    Value Estimations
    $295,000
    Show details
    Cap Rate Potential
    7.3%
    Office buildings
    Location Intelligence
    Property ID
    US66-1855683
    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

    • Robert Murphy, OD / Optometrist

    Property Details for 863 Market St

    Year built
    1966
    Lot size
    0.09 lot acres
    Property size
    1,608 SF
    Property type
    Office buildings
    APN
    68-23273
    APU
    6823273

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $275,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $340,000
      6.5%
      $310,000
      7%
      $290,000

    • Alternative Use

      Use
      Estimation
      MEDICAL BUILDING
      $175,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Akron
    County
    Summit
    State
    Ohio
    Longitude
    -81.4912
    Latitude
    41.0732
    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
    $2,417
    $4,680
    $21,480
    $26,160
    -
    $13,370
    $61,360
    $74,730

    Comparable in this City

    • Value Estimation
      $315,000
      2,657 SF

      2701 Gilchrist Rd

      OFFICE BUILDING • 2,657 SF
      2701 Gilchrist Rd, Akron, OH 44305-4413
      View Details
    • Value Estimation
      $340,000
      2,056 SF

      1602 Market St

      OFFICE BUILDING • 2,056 SF
      1602 Market St, Akron, OH 44305-4211
      View Details
    • Value Estimation
      $275,000
      814 SF

      847 Market St

      OFFICE BUILDING • 814 SF
      847 Market St, Akron, OH 44305-2442
      View Details
    • Value Estimation
      $280,000
      700 SF

      103 Case Ave

      OFFICE BUILDING • 700 SF
      103 Case Ave, Akron, OH 44305-2549
      View Details
    • Value Estimation
      $90,000
      2,025 SF

      31 Case Ave

      OFFICE BUILDING • 2,025 SF
      31 Case Ave, Akron, OH 44305-2533
      View Details
    • Value Estimation
      $155,000
      1,932 SF

      1846 Market St, Unit 1856

      OFFICE BUILDING • 1,932 SF
      1846 Market St, Akron, OH 44305-4240
      View Details

    Similar Nearby for Sale

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      Renovated Office Building Near I-76

      10,302 SF office building with renovated interior and convenient location.
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    • $825,000
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      Akron Executive Office Building

      Prime Akron location, high rental income.
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    • $595,000
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      Akron Office Building - $595,000

      Prime Akron Office Space, Multi-Use Potential
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    • $299,900
      1.39 Acres

      Prime Akron Industrial Land

      1.39 Acres, I-76 Access, $299,900
      2626 Gilchrist Rd, Akron, OH 44305
      View Details
    • Contact for pricing
      0.11 Acres

      Residential Land in Akron, OH

      Vacant land in a residential neighborhood, Akron, Ohio.
      1874 Adelaide Blvd, Akron, OH 44305
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    • $369,900
      25,366 SF

      Corner Retail Building For Sale

      Corner building with leasing opportunities near Archbishop Hoban High School.
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    Similar Nearby for Lease

    • $13 SF/Yr
      20,000 SF

      Fairlawn Office Space for Lease

      Office space available in Fairlawn with ample parking.
      3090 W Market St, Fairlawn, OH 44305
      View Details
    • Contact for pricing
      16,650 SF

      Former Bank Building For Lease

      Three-story, 16,650 SF building in high-traffic Fairlawn/Montrose area.
      2760 W Market St, 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
    • $20 SF/Yr
      17,377 SF

      Modern Office Space Available

      Sublease opportunity in state-of-the-art building with amenities.
      1200 E Market St, Akron, OH 44305
      View Details
    • $15 SF/Yr
      1,800 SF

      Fairlawn Office Space Available

      Multi-tenant office building with suites available for rent.
      3480 W Market St, Akron, OH 44305
      View Details
    • $13 SF/Yr
      9,540 SF

      Prime Akron Retail Space

      9,540 SF Former Family Dollar
      19 Arlington St, Akron, OH 44305
      View Details
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    863 Market St
    Akron, OH 44305-2442
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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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