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498-553 Canton Rd
Akron, OH 44312
Eastgate Plaza · Retail Property For Sale
INVESTMENT HIGHLIGHTS
- RARE Value-Add Shopping Center for Sale with 31% UPSIDE
- Tremendous Cash-On-Cash Potential with Lease Up of Vacant Space
- Located in Densely-Populated Ellet Neighborhood of Akron
- Grocery Anchor with 24 Years of Tenure in the Property
- Historically Stable Property Available for 2nd Time in 41 Years
EXECUTIVE SUMMARY
For sale is the 100% fee-simple interest in Eastgate Ellet Plaza, a grocery anchored shopping center serving the densely-populated Ellet, Mogadore, and Lakemore neighborhoods in Akron, Ohio. The property is being offered for sale for only the second time in 41 years. The property features a wide mix of daily needs, internet resistant tenants including grocery, restaurants, nail salon, cellular, and others.
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Building Size
76,328 SF
Building Class
C
Year Built
1951
Price
$9,649,752 CAD
Price Per SF
$126.42 CAD
Cap Rate
8.05%
NOI
$776,805 CAD
Percent Leased
70%
Tenancy
Multiple
Building Height
3 Stories
Loading Docks
5 Exterior
Building FAR
0.28
Lot Size
6.34 AC
Parking
300 Spaces (2.59 Spaces per 1,000 SF Leased)
Frontage
579’ on Canton Rd
AMENITIES
- Signage
- Signalized Intersection
PROPERTY TAXES
| Parcel Number | 67-60810 | Improvements Assessment | $2,843,216 CAD |
| Land Assessment | $265,966 CAD | Total Assessment | $3,109,182 CAD |
PROPERTY TAXES
Parcel Number
67-60810
Land Assessment
$265,966 CAD
Improvements Assessment
$2,843,216 CAD
Total Assessment
$3,109,182 CAD
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