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    897 Arlington E Rdg Akron, OH 44312-5276
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    Property profile & analytics

    897 Arlington E Rdg, Akron, OH 44312-5276

    View on Map
    • Hotels
    • 69,038 SF
    • 2.09 lot acres
    Off-Market
    Last Sale Mar 26, 2024
    $10,200,000
    Property ID
    US66-2903820
    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.
    Value Estimations
    $10,200,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • 897 Arlington Ridge East Parking / Parking Lot & Garage
    • Residence Inn Akron South/Green / Hotel & Motel

    Property Details for 897 Arlington E Rdg

    Year built
    2013
    Lot size
    2.09 lot acres
    Property type
    Hotels
    APN
    28-15912
    APU
    2815912

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Mar 26, 2024 — Hong Nguyen Akron Hotel Group LLC Warranty Deed —
    Mar 26, 2024 $10,200,000 Kaveer Hotel Group LLC Ceoccentrallinvestments LLC Warranty Deed $6.9M · Akron Hotel Group LLC
    Jan 4, 2022 $9,100,000 Akron Hotel Group LLC Sadguri Krupa LLC Warranty Deed $6.6M · The Citizens Savings Bank
    Oct 29, 2012 — Sadguru Krupa LLC Sadguru Krupa LLC Quit Claim Deed —
    Apr 20, 2009 $125,000 Sadguru Krupa LLC Jai Shiyaram INC Warranty Deed —
    — — Sadguru Krupa LLC — Deed Of Trust · related $6M · Citizens Svgs Bk

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $10,200,000
      ML approach
      $10,200,000

    • Alternative Use

      Use
      Estimation
      MEDICAL BUILDING
      $7,530,000
      RESTAURANT
      $7,325,000
      AUTO REPAIR, GARAGE
      $6,885,000
      NEIGHBORHOOD: SHOPPING CENTER
      $6,455,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Akron
    County
    Summit
    State
    Ohio
    Longitude
    -81.4906
    Latitude
    40.9838
    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
    $162,694
    $49,260
    $0.00
    $49,260
    -
    $140,740
    $0.00
    $140,740

    Comparable in this City

    • Value Estimation
      $1,485,000
      28,632 SF

      2873 Arlington Rd

      HOTEL
      2873 Arlington Rd, Akron, OH 44312-4715
      View Details
    • Value Estimation
      $4,075,000
      53,856 SF

      898 Arlington E Rdg

      HOTEL
      898 Arlington E Rdg, Akron, OH 44312-5258
      View Details
    • Value Estimation
      $3,090,000
      52,146 SF

      880 Arlington E Rdg

      HOTEL
      880 Arlington E Rdg, Akron, OH 44312-5258
      View Details
    • Value Estimation
      $585,000
      6,950 SF

      2940 Chenoweth Rd

      HOTEL
      2940 Chenoweth Rd, Akron, OH 44312-5264
      View Details
    • Value Estimation
      $2,300,000
      47,796 SF

      1025 Interstate Pkwy

      HOTEL
      1025 Interstate Pkwy, Akron, OH 44312-5289
      View Details
    • Value Estimation by Request
      1,512 SF

      3145 Massillon Rd

      MOTEL
      3145 Massillon Rd, Akron, OH 44312-5356
      View Details

    Similar Nearby for Sale

    • Contact for pricing

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      Residential Land in Premier Community

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      Residential Land in Premier Community

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      Commercial Land in High Traffic

      Two parcels of commercial land with city utilities available.
      2011 E Waterloo Rd, Akron, OH 44312
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      Flat Land Ready for Development

      Flat land suitable for development in a convenient location.
      3047-3083 Massillon Rd, Akron, OH 44312
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    Similar Nearby for Lease

    • Contact for pricing

      Former Hair Salon Retail Space

      1,100 SF retail space, formerly a hair salon.
      2794 Albrecht Ave, Akron, OH 44312
      View Details
    • Contact for pricing

      Retail Space in Harvest Plaza

      Retail space for lease anchored by Giant Eagle.
      2801 E Waterloo Rd, Akron, OH 44312
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      3,629 SF

      Akron Warehouse with FTZ

      Warehouse space with 22' ceilings and Foreign Trade Zone.
      2830 Gilchrist Rd, Akron, OH 44312
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      Land Available For Lease

      Land available for lease in Akron, Ohio.
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      View Details
    • Contact for pricing

      Ellet Acme Plaza Retail Space

      Grocery-anchored shopping center in Akron's Ellet neighborhood.
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      View Details
    • $12 SF/Yr

      Office Space Available For Rent

      Office space for rent at 971 East Turkeyfoot Lake Road.
      971 East Turkeyfoot Lake Rd, Akron, OH 44312
      View Details

    Property Visit Statistics

    • Visits by month
      9.0k
    • Visitors by month
      7.3k
    • Avg Time on site
      20 min
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    Akron, OH 44312-5276
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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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