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Akron Legacy Asset with Upside 39 N Portage Path 139,362 SF Specialty Building Online Auction Sale Akron, OH 44303


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Investment Highlights
- 139,362-square-foot asset featuring scale and flexibility, providing a wide range of repositioning strategies across multiple potential uses.
- Vacant condition allows immediate execution, giving investors control to repurpose the asset and unlock value through redevelopment.
- Easy access to Downtown Akron and surrounding employment centers delivers a broad range of tenant or user profiles across multiple use types.
- Located in an established area with a growing 65 to 84 population segment within a 5-mile radius, supporting residential and care-based uses.
- Architectural elements, including gambles, chimneys, and a stone/brick façade, display character not typically replicated in modern construction.
- Situated near major parks and outdoor amenities, enhancing long-term appeal for residential, hospitality, or wellness-oriented uses.
Executive Summary
Savills is pleased to offer for sale a fee simple interest in 39 N Portage Path, a 139,362-square-foot property with an additional 27,582 square feet of finished space on the lower level in Akron, Ohio, that presents a compelling value-add opportunity with significant repositioning upside. Built as an estate and converted to a residential facility (known as Leonora Hall), the property was subsequently operated as an assisted living facility (known as Francesca Residence). Now vacant, 39 N Portage Path is well-positioned for redevelopment.
Located along Akron’s historic Portage Path corridor, the asset benefits from strong connections to Downtown Akron, Highland Square, and surrounding retail and service amenities. A short walk from Market Street, 39 N Portage Path is close to neighborhood hubs, including Mustard Seed Market (an organic grocery and café), as well as a variety of cafés, bars, and restaurants. The property displays classic architectural elements, including gables, chimneys, and a stone/brick façade, reflecting a level of character that modern construction does not replicate. 39 N Portage Path also features beautifully landscaped grounds with a gazebo and walking paths, and is just minutes from Cuyahoga Valley National Park and the extensive Akron Metro Parks system.
Positioned on 2.59 acres, 39 N Portage Path’s scale offers significant flexibility for a range of repositioning strategies. While previously configured for both residential and assisted living use, the existing layout and updates to the common area and circulation support reconfiguration. This foundation allows investors to reposition the asset for multifamily, counseling center, group care, office, hospitality, or other institutional uses without the difficulties of a traditional ground-up development.
With its combination of scale, architectural character, and established location, 39 N Portage Path presents a rare opportunity to acquire a legacy asset primed for repositioning. Supported by strong surrounding fundamentals and multiple potential use cases, the opportunity enables long-term value creation through redevelopment.
Property tours are available by appointment only. Please contact the listing broker to schedule.
Located along Akron’s historic Portage Path corridor, the asset benefits from strong connections to Downtown Akron, Highland Square, and surrounding retail and service amenities. A short walk from Market Street, 39 N Portage Path is close to neighborhood hubs, including Mustard Seed Market (an organic grocery and café), as well as a variety of cafés, bars, and restaurants. The property displays classic architectural elements, including gables, chimneys, and a stone/brick façade, reflecting a level of character that modern construction does not replicate. 39 N Portage Path also features beautifully landscaped grounds with a gazebo and walking paths, and is just minutes from Cuyahoga Valley National Park and the extensive Akron Metro Parks system.
Positioned on 2.59 acres, 39 N Portage Path’s scale offers significant flexibility for a range of repositioning strategies. While previously configured for both residential and assisted living use, the existing layout and updates to the common area and circulation support reconfiguration. This foundation allows investors to reposition the asset for multifamily, counseling center, group care, office, hospitality, or other institutional uses without the difficulties of a traditional ground-up development.
With its combination of scale, architectural character, and established location, 39 N Portage Path presents a rare opportunity to acquire a legacy asset primed for repositioning. Supported by strong surrounding fundamentals and multiple potential use cases, the opportunity enables long-term value creation through redevelopment.
Property tours are available by appointment only. Please contact the listing broker to schedule.
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- Operating and Financials
- Purchase Agreement
- Title and Insurance
Property Facts
Moderately walkable
60/100
Moderately drivable
70/100
Limited public transit
30/100
Fairly bikeable
40/100
Sale Advisors
Sale Advisors
Addison Williams,
Managing Director
Addison has extensive experience as an investment sales broker who specializes in the marketing, disposition, and acquisition of income-producing real estate throughout the United States. He represents a wide range of private and institutional clients, providing advisory and execution across office, industrial, retail, and alternative asset classes.
Addison brings a comprehensive understanding of capital markets and a client-first approach to every engagement. He advises owners, operators, and investors on investment and growth strategies that include sale leasebacks, portfolio optimization, equity placement, recapitalizations, and expansion planning. Addison delivers creative solutions that help his clients realize the full potential of their real estate holdings.
Before joining Savills in 2025, Addison spent eight years with CBRE, where he was a member of the firm’s Net Lease Property Group. In 2023, he was honored with CBRE’s Rising Star Award in recognition of exceptional performance and dedication to client success.
Addison brings a comprehensive understanding of capital markets and a client-first approach to every engagement. He advises owners, operators, and investors on investment and growth strategies that include sale leasebacks, portfolio optimization, equity placement, recapitalizations, and expansion planning. Addison delivers creative solutions that help his clients realize the full potential of their real estate holdings.
Before joining Savills in 2025, Addison spent eight years with CBRE, where he was a member of the firm’s Net Lease Property Group. In 2023, he was honored with CBRE’s Rising Star Award in recognition of exceptional performance and dedication to client success.
Aaron Davis,
Senior Advisor
He has over 20 years of construction experience that includes all phases of land development, residential housing rehabs, custom home builds, commercial tenant build outs, and commercial “build to suit” projects.
Aaron began these experiences at age 14 as a general laborer. This is where he learned a strong work ethic from his mentor whom was his Grandfather. Who owned and operated a “build to suit” land development company. While being the “grunt”, Aaron was given the opportunities to gain experience and skills that helped build his passion for Real Estate.
While Aaron was in high school at age 17, he got another opportunity in a different phase of real estate. There he worked for a property management company where he assisted in developing relationships with contractors and learned how to schedule trades and determine proper courses of action.
Looking for more growth Aaron went to work for Dean’s construction where he learned to become a heavy machine operator, developing subgrades through all site work phases to meet finishing grade specs. While there he also used some of his past experiences in property management and was given the responsibility of managing Dean’s Construction’s Industrial properties. These consisted of 5 acres and over 60,000 square foot of commercial multi tenant warehouse and flex spaces.
Aaron’s next move was to an asphalt and concrete company, Perrin Asphalt and Concrete. Aaron quickly made his way to a leadership role as of one of the youngest crew foreman the family company has ever had in it’s 60 years of business. Aaron managed hundreds of civil and commercial projects throughout his 14 years of employment. He made sure to take an interest and understand all the construction phases Perrin was involved in so he could add value and be more efficient as a Project Manager.
In 2018, Aaron joined SVN Summit Commercial Real Estate Group where he has quickly built relationships with commercial real estate owners, raw land developers, small business owners and investors that are in Aaron’s specialized product areas. He has advised Real Estate for multifamily purchases, large land parcel purchases for development, Industrial leases & purchases and a historical renovation redevelopment for a mixed use project. He has managed cash flowing assets and increased NOI’s by analyzing expenses and operations to better position the real estate.
Aaron will use his experience and skills to add value for his clients and make sure their best interest is always the priority. Aaron prides himself as a husband to beautiful, hardworking wife Anne who is a business owner herself. Aaron thinks his greatest achievement in life was becoming a father to his two sons who he coaches in many of their youth sport interests.
Aaron began these experiences at age 14 as a general laborer. This is where he learned a strong work ethic from his mentor whom was his Grandfather. Who owned and operated a “build to suit” land development company. While being the “grunt”, Aaron was given the opportunities to gain experience and skills that helped build his passion for Real Estate.
While Aaron was in high school at age 17, he got another opportunity in a different phase of real estate. There he worked for a property management company where he assisted in developing relationships with contractors and learned how to schedule trades and determine proper courses of action.
Looking for more growth Aaron went to work for Dean’s construction where he learned to become a heavy machine operator, developing subgrades through all site work phases to meet finishing grade specs. While there he also used some of his past experiences in property management and was given the responsibility of managing Dean’s Construction’s Industrial properties. These consisted of 5 acres and over 60,000 square foot of commercial multi tenant warehouse and flex spaces.
Aaron’s next move was to an asphalt and concrete company, Perrin Asphalt and Concrete. Aaron quickly made his way to a leadership role as of one of the youngest crew foreman the family company has ever had in it’s 60 years of business. Aaron managed hundreds of civil and commercial projects throughout his 14 years of employment. He made sure to take an interest and understand all the construction phases Perrin was involved in so he could add value and be more efficient as a Project Manager.
In 2018, Aaron joined SVN Summit Commercial Real Estate Group where he has quickly built relationships with commercial real estate owners, raw land developers, small business owners and investors that are in Aaron’s specialized product areas. He has advised Real Estate for multifamily purchases, large land parcel purchases for development, Industrial leases & purchases and a historical renovation redevelopment for a mixed use project. He has managed cash flowing assets and increased NOI’s by analyzing expenses and operations to better position the real estate.
Aaron will use his experience and skills to add value for his clients and make sure their best interest is always the priority. Aaron prides himself as a husband to beautiful, hardworking wife Anne who is a business owner herself. Aaron thinks his greatest achievement in life was becoming a father to his two sons who he coaches in many of their youth sport interests.
Christopher Zefic,
Listing Agent
I'm an expert real estate agent with Arterra Realty Michigan LLC in Clinton Twp., MI and the nearby area, providing home-buyers and sellers with professional, responsive and attentive real estate services. Want an agent who'll really listen to what you want in a home? Need an agent who knows how to effectively market your home so it sells? Give me a call! I'm eager to help and would love to talk to you.
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Auctioneer License:
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Videos
Matterport 3D Exterior
Matterport 3D Tours
Photos
Street View
Street
Map
3% Transaction Fee
Based on Winning Bid Amount
Minimum Transaction Fee
$20,000 USD
Maximum Transaction Fee
$300,000 USD
Example Calculation
Winning Bid Amount
$5,000,000 USD
Transaction Fee
$150,000 USD (3%)
Total Purchase Price
$5,150,000 USD
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Akron Legacy Asset with Upside | 39 N Portage Path
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