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    982 Broadway St Akron, OH 44311

    • Office buildings
    • 37,800 SF
    • 0.89 lot acres
    OFF-MARKET
    Last Sale
    Oct 21, 2021
    Value Estimations
    $640,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US66-1565338
    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

    • Office buildings

    Property Details for 982 Broadway St

    Year built
    1937
    Lot size
    0.89 lot acres
    Property size
    37,800 SF
    Property type
    Office buildings
    APN
    68-09531
    APU
    6809531

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $620,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $878,000
      Market price range: $878k - $2.14M

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

    Location Insight

    • Map
    • Local Demand
    City
    Akron
    County
    Summit
    State
    Ohio
    Longitude
    -81.5273
    Latitude
    41.0601
    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
    $1,817
    $21,900
    $0.00
    $21,900
    -
    $62,580
    $0.00
    $62,580

    Comparable in this City

    • Value Estimation
      $1,060,000
      331,731 SF

      526 Main St

      OFFICE BUILDING (MULTI-STORY) • 331,731 SF
      526 Main St, Akron, OH 44311-4401
      View Details
    • Value Estimation
      $315,000
      2,400 SF

      695 Dunbar Dr

      OFFICE BUILDING • 2,400 SF
      695 Dunbar Dr, Akron, OH 44311-1315
      View Details
    • Value Estimation
      $425,000
      7,800 SF

      100 Wheeler St

      OFFICE BUILDING • 7,800 SF
      100 Wheeler St, Akron, OH 44311-1122
      View Details
    • Value Estimation
      $340,000
      6,020 SF

      525 Wolf Ledges Pkwy

      OFFICE BUILDING • 6,020 SF
      525 Wolf Ledges Pkwy, Akron, OH 44311-1199
      View Details
    • Value Estimation
      $300,000
      7,260 SF

      362 Main St

      OFFICE BUILDING • 7,260 SF
      362 Main St, Akron, OH 44311-1014
      View Details
    • Value Estimation
      $415,000
      7,704 SF

      440 Grant St

      OFFICE BUILDING • 7,704 SF
      440 Grant St, Akron, OH 44311-1189
      View Details

    Similar Nearby for Sale

    • $2,395,000
      44,800 SF

      Akron Office Building For Sale

      Prime Akron Office Space, 44,800 SF
      411 Wolf Ledges Pkwy, Akron, OH 44311
      View Details
    • $2,395,000
      39,258 SF

      Wolf Ledges Parkway Office Complex

      Akron Office Building, Value-Add Opportunity
      441 Wolf Ledges Pkwy, Akron, OH 44311
      View Details
    • $1,700,000
      39,204 SF

      Renovated Warehouse/Office Building For Sale

      39,204 SF renovated warehouse/office building on high traffic corridor.
      975 East Tallmadge Ave, Akron, OH 44311
      View Details
    • Contact for pricing
      29,000 SF

      Industrial Building - Build To Suit

      Proposed industrial building with customizable options and great highway access.
      E Crosier St & Bellows St, Akron, OH 44311
      View Details
    • Contact for pricing
      21,700 SF

      Akron Flex Spaces For Sale

      Two proposed 21,700 SF flex spaces in Akron, Ohio.
      Gault St, Akron, OH 44311
      View Details
    • Contact for pricing

      Vacant Lot at Lit Intersection

      Vacant commercial land near Akron University and I-77.
      781 Grant St, Akron, OH 44311
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      15,119 SF

      Modern Office Building Near Downtown

      Office building with quick highway access and long-term tenancy history.
      450 Grant St, Akron, OH 44311
      View Details
    • $2,395,000
      1,124 SF

      Downtown Akron Property with Parking

      Rare free parking in downtown Akron near University Park District.
      441 Wolf Ledges Pkwy, Akron, OH 44311
      View Details
    • $2,395,000
      2,140 SF

      Office Building with Recent Upgrades

      Four-story office building featuring recent renovations and accessibility features.
      411 Wolf Ledges Pkwy, Akron, OH 44311
      View Details
    • $13 SF/Yr
      3,675 SF

      Furnished Office Space Available

      Professionally furnished office space with utilities included and flexible layout.
      701 S Broadway St, Akron, OH 44311
      View Details
    • $8 SF/Yr
      60,000 SF

      Akron Office Space - 11,000 SF Available

      Versatile Akron Office & Warehouse Space
      1025 Broadway St, Akron, OH 44311
      View Details
    • $12 SF/Yr
      82,400 SF

      Akron Office Space: 703 S Main St

      Prime Akron Office Suites Available
      703 Main St, Akron, OH 44311
      View Details
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    982 Broadway St
    Akron, OH 44311
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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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