Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    Romig Rd Akron, OH 44320

    • Commercial land
    • 0.60 lot acres
    OFF-MARKET
    Last Sale
    Sep 27, 2022
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US66-0217292
    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

    • Commercial land

    Property Details for Romig Rd

    Lot size
    0.60 lot acres
    Property type
    Commercial land
    APN
    67-64353
    APU
    6764353

    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
    -81.5785
    Latitude
    41.0447
    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
    $1,218
    $14,680
    $0.00
    $14,680
    -
    $41,940
    $0.00
    $41,940

    Comparable in this City

    • Value Estimation by Request
      0.16 Acres

      1486 Copley Rd

      VACANT COMMERCIAL LAND • 0.16 Acres
      1486 Copley Rd, Akron, OH 44320-2554
      View Details
    • Value Estimation by Request
      0.52 Acres

      1609 Copley Rd

      VACANT COMMERCIAL LAND • 0.52 Acres
      1609 Copley Rd, Akron, OH 44320-2536
      View Details
    • Value Estimation by Request
      0.04 Acres

      1369-1373 Copley Rd

      VACANT COMMERCIAL LAND • 0.04 Acres
      1369-1373 Copley Rd, Akron, OH 44320
      View Details
    • Value Estimation by Request
      0.07 Acres

      1735 Hawkins Ave

      VACANT COMMERCIAL LAND • 0.07 Acres
      1735 Hawkins Ave, Akron, OH 44320-3902
      View Details
    • Value Estimation by Request
      1.24 Acres

      1561 Dreisbach Dr

      VACANT COMMERCIAL LAND • 3,506 SF
      1561 Dreisbach Dr, Akron, OH 44320
      View Details
    • Value Estimation by Request
      0.13 Acres

      1357 Copley Rd

      VACANT COMMERCIAL LAND • 2,079 SF
      1357 Copley Rd, Akron, OH 44320-2652
      View Details

    Similar Nearby for Sale

    • $100,000
      5.80 Acres

      Akron Development Opportunity: 19.46 Acres

      Approximately 19.46 acres suitable for single or multi-family development.
      V/L-5.80 Ac Romig Rd, Akron, OH 44320
      View Details
    • Contact for pricing
      Pending

      Akron Commercial Property Auction

      Prime commercial property near Amazon Fulfillment Center with development potential.
      2052 Romig Rd, Akron, OH 44320
      View Details
    • $90,000
      5.80 Acres

      Akron Land: 5.8 Acres Development Opportunity

      Prime Akron land, ideal for residential or retail development.
      0 Romig Rd, Akron, OH 44320
      View Details
    • Contact for pricing
      0.12 Acres

      Residential Lot in West Akron

      Vacant residential lot in established neighborhood, close to amenities.
      414 Beechwood Dr, Akron, OH 44320
      View Details
    • Contact for pricing
      0.13 Acres

      Residential Land in Akron, OH

      Residential land for sale in established Akron neighborhood.
      1021 Delia Ave, Akron, OH 44320
      View Details
    • $130,000
      1.86 Acres

      Akron, OH Wooded Lot

      1.86 acre wooded lot, convenient location, Copley-Fairlawn schools.
      Schocalog Rd, Akron, OH 44320
      View Details

    Similar Nearby for Lease

    • $499,000

      Commercial Land Near White Pond

      2.5 acres commercial, 1.5 acres residential land for lease.
      1853 Copley Rd, Akron, OH 44320
      View Details
    • Contact for pricing

      Hawkins Plaza Retail Center

      Akron, OH Strip Mall - 1,924 sq ft Available
      1525 Hawkins Ave, Akron, OH 44320
      View Details
    • Contact for pricing
      1,875 SF

      Retail Space on South Hawkins

      Retail space available on South Hawkins near Wooster Road.
      1559-1571 S Hawkins Ave, Akron, OH 44320
      View Details
    • $18 SF/Yr
      4,310 SF

      Medical Office Space Available

      4,310 SF medical space for rent in Akron, OH.
      789 White Pond Dr, Akron, OH 44320
      View Details
    • Contact for pricing
      7,939 SF

      Akron Retail Space: 7,939 SF

      Prime Akron retail space available. Excellent visibility & high traffic.
      1621 Frederick Blvd, Akron, OH 44320
      View Details
    • Contact for pricing
      1,823 SF

      Akron Drive-Thru Restaurant Opportunity

      Prime QSR location, 1823 SF, FF&E included.
      2520 Romig Rd, Akron, OH 44320
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Romig Rd
    Akron, OH 44320
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.