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118-122 W Market St
Akron, OH 44303 Highland Square

$975,000

Storefront Retail Residential For Sale  •  36,979 Sq Ft

Property Details

  • Property Type Storefront Retail Residential
  • Total Building Size 36,979 Sq Ft
  • Lot Size 1.89 ac
  • Building Class C
  • Year Built 1932
  • Tenancy Multiple
  • Zoning U4 Commercial & U3 Retail
54 Transit Score
65 Walk Score

Description

36,979 SF commercial building with 2 adjoining parking lots
1.44 total acreage for building and vacant land
Zoning U4 Commercial and U3 Retail -Mixed Used Retail, Office and or Multifamily
Considered the “Gateway to the City of Akron” or “Cadillac Hill”
Approximate height regulation of 75’ or 4-5 floors
Existing structure allows additional levels
High density multifamily  
Annual taxes-$15,722
Potential for 108 surface lots with the addition of a small deck in the lot at Bates & Market which would double the spaces on that lot. (Non Approved Conceptual Plan)
Sale price does not include duplex
Property is in the OPPORTUNITY ZONE
Any residential project is eligible to receive 15-year, 100% residential property tax abatement
There is no number in cities code for a specific density here. Zoning Code development requirements would affect the number of units that can be built.   Such as; One parking space per dwelling unit, 15 feet min. building setbacks from streets, 6 feet side (or rear) setbacks, the 75 feet height limitation and the provision of 30% useable open space.  However, with the right development the city is open to variances/conditional use requests.  The Zoning is Retail Business Use District U3 and U4 so a mix of retail and apartments are permitted and welcome here.

Major Tenants

Tenant SF Occupied Lease End Date
Time Traveler Records

Amenities

  • Bus Line

Public Transportation

AirportDriveWalkDistance
Akron-Canton Regional Airport 21 min - 14.3 mi
Cleveland Hopkins International Airport 55 min - 35.6 mi

Parking Details

Parking Available: Yes
Reserved: No
Spaces Provided: 108
Type: Surface
Included in Rent: Yes
Sam Tecca 330-722-5002 Gerspacher Real Estate Group
Sam Tecca 330-722-5002 Gerspacher Real Estate Group