772-798 N Main St 2 Properties Offered at $1,785,000 in Akron, OH


INVESTMENT HIGHLIGHTS
- New Roof on 772-776 N. Main Street Building
- Several Residential Units have been Remodeled
- Many Updates to Furnace Units and Air Condensors
- Located at a Signalized Corner on N. Main Street and E. Cuyahoga Falls Avenue
EXECUTIVE SUMMARY
Two mixed-use properties on a well-traveled corridor in the Highland Square neighborhood of Akron. These properties are located at the signalized corner of N. Main Street and E. Cuyahoga Falls Avenue across from People’s Bank. The two properties are located only 1.5 miles from Downtown Akron, from the Akron/
Cuyahoga Falls border, and State Route 8.The 772-776 N. Main Street building consists of one retail unit on the first floor and a total of 8 residential
units on the other two floors. The 3,000 SF restaurant unit was recently vacated and is available for lease. This space has a hood system and most of the equipment necessary to open a restaurant immediately. The space also has a large dining area, a large bar area, a covered outdoor patio, and a basement under the bar
area where there is a cooler and plenty of room for storage. This building also had a new roof recently installed. The 788-798 N. Main Street building consists of five retail units that are currently all occupied with long-term tenants. One tenant occupies two units so there are four tenants occupying the five retail spaces. There are a total of 18 residential units on the second and third floors. This building also has a basement with coin-operated washers and dryers for the tenants to use. These buildings have been well-maintained and are professionally managed. The residential units rent quickly and do have upside on the rents. These buildings do have a shared parking lot and plenty of free street parking. If you would like more information or would like to tour the properties, please contact Ed Jesson at 330-760-4494.
Cuyahoga Falls border, and State Route 8.The 772-776 N. Main Street building consists of one retail unit on the first floor and a total of 8 residential
units on the other two floors. The 3,000 SF restaurant unit was recently vacated and is available for lease. This space has a hood system and most of the equipment necessary to open a restaurant immediately. The space also has a large dining area, a large bar area, a covered outdoor patio, and a basement under the bar
area where there is a cooler and plenty of room for storage. This building also had a new roof recently installed. The 788-798 N. Main Street building consists of five retail units that are currently all occupied with long-term tenants. One tenant occupies two units so there are four tenants occupying the five retail spaces. There are a total of 18 residential units on the second and third floors. This building also has a basement with coin-operated washers and dryers for the tenants to use. These buildings have been well-maintained and are professionally managed. The residential units rent quickly and do have upside on the rents. These buildings do have a shared parking lot and plenty of free street parking. If you would like more information or would like to tour the properties, please contact Ed Jesson at 330-760-4494.
PROPERTY FACTS
Price | $1,785,000 |
Price / SF | $58.86 / SF |
Cap Rate | 8% |
Sale Type | Investment |
Status | Active |
Number of Properties | 2 |
Individually For Sale | 0 |
Total Building Size | 30,328 SF |
Total Land Area | 1.23 AC |
PROPERTIES
PROPERTY NAME / ADDRESS | PROPERTY TYPE | SIZE | YEAR BUILT | INDIVIDUAL PRICE |
---|---|---|---|---|
772-776 N Main St, Akron, OH 44310 | Retail | 9,000 SF | 1923 | - |
788-798 N Main St, Akron, OH 44310 | Multifamily | 21,328 SF | 1920 | - |
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