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725 East Market Street

Off-Market

725 East Market Street, Akron, OH 44305

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  • Property Type Office - Medical Office
  • Property Size 25,097 Sqft
  • Lot Size 0.81 Acre
  • Parking Spaces Avail. 45
  • Parking Ratio 1.80/ 1,000 SF
  • Property Tenancy Owner Occupied
  • Building Class C
  • Year Built 1961

Location

  • City Akron, OH
  • Neighborhood Middlebury
  • Zip Code 44305
  • Market Cleveland Akron

Contacts

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Owner

  • True Owner
  • Registered Owner

Tenants

Suite Name Tenant Leased
Space
Rent Price Lease
Type
Space
Type
Lease Term
370 17th Street #5500 MERRILL, (303) 446-5500 23,824 SF $23/SF/YR Modified
Gross
General
Office
11/01/2014-
N/A
370 17th Street
#6000
Morrison & Foerster,
(303) 592-1500
10,710 SF $26/SF/YR Full
Service
General
Office
08/01/2013-
07/31/2023
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Documents

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Sales

  • Purchase Date 05 Aug, 1986
  • Purchase Price $325,000
  • Arm's Length
  • Buyer Name

Mortgages

  • Current Lender
  • Loan Amount
  • Loan Origination Date

Market Trends

Average Actual Rents in Akron

Average rents use actual signed leases, aggregated for your specific search area and asset type with Yardi Market Insight. Be confident your price is competitive, with CommercialEdge.

Current Average Rent
Net Rent
$44.3/SF/YR
Recoverables Show detailsHide details
$16.7/SF/YR
CAM
$3.54/SF/YR
Insurance
$0.59/SF/YR
Taxes
$9.52/SF/YR
Utilities
$1.76/SF/YR
Management Fees
$1.3/SF/YR
Total Rent
$61/SF/YR
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Occupancy & Leasing Activity
Occupancy
83.5%
Lease Spread
-20.5%
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Asking Rents in Akron Office Market

Office rental rates are based on aggregated data of asking rates.

  • 2020 Avg. Asking Rent $17.90
  • 2020 Office Vacancy Rate 14.43%
  • 2020 Office Completions (Sqft) 45,000

Akron Office Sales Trends

All sale prices are based on publicly recorded, verified sales.

  • 2020 Avg. Price per Sqft $10.25
  • 2020 Office Sales Volume $3.5M
  • 2020 Number of Transactions 3
View more Akron market trends

Tax

  • Property Tax in 2020-2021 $34,792
  • Market Value $928,010
  • Assessed Value $928,010

Find more tax info, including assessment history and abatements, on CommercialEdge

Frequently Asked Questions

What is the total square footage of 725 East Market Street?

725 East Market Street totals 25,097 square feet.

When was this property built?

725 East Market Street was built in 1961.

When was 725 East Market Street last sold?

725 East Market Street was last sold on 05 Aug, 1986.

What was the last purchase price for 725 East Market Street?

725 East Market Street was last sold for $325,000.

What is the property tax for 725 East Market Street?

The property tax for 725 East Market Street in 2020-2021 was $34,792.

What is the market value for 725 East Market Street?

The market value for 725 East Market Street in 2020-2021 was $928,010.

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