Akron, Ohio, is a prime location for investing in Industrial Properties, with its rich history in rubber and tire manufacturing earning it the nickname "Rubber Capital of the World." Industrial Properties in Akron offer a unique opportunity for investors to tap into the city's diverse economy, which includes manufacturing, education, healthcare, and biomedical research. These properties can represent a range of investments, from warehouses and distribution centers to research and development facilities. Akron's amenities, infrastructure, location, education, and geography make it an attractive place to invest in Industrial Properties. The city is home to institutions like the University of Akron, which is known for its Goodyear Polymer Center and National Polymer Innovation Center, and companies like Goodyear, FirstEnergy, and GOJO. Additionally, Akron's location on the western edge of the Glaciated Allegheny Plateau in Northeast Ohio provides easy access to major transportation facilities, including the Akron Northside Station, Akron Union Station, and the Akron-Canton Airport. The city's attractions, such as the Akron Art Museum, Stan Hywet Hall and Gardens, and the Akron Zoo, make it a great place for business and travel.
Akron's Industrial Properties offer a unique opportunity for investors, with 21 listings available. The city's diverse economy and strong presence of industries like tire and rubber manufacturing make it an attractive location for Industrial Properties. In addition to Industrial Properties, Akron also offers other property types, such as Warehouses, which are ideal for distribution and logistics companies; Land, which provides opportunities for development and growth; Apartment Buildings, which offer a steady income stream; and Commercial Real Estate, which can be used for a variety of business purposes. With its rich history, diverse economy, and attractive amenities, Akron is a great place to invest in Industrial Properties. The city's average price per square foot is $68 USD, with an average size of 53,936 square feet, and a largest size of 253,871 square feet. The average cap rate is 7.59%, making Akron an attractive location for investors.
What is the average price per square foot for industrial properties in Akron?
The average price per square foot for industrial properties in Akron is $68 USD per square foot, with an average size of 53,936 square feet and a largest size of 253,871 square feet, among the 21 available listings.
How do location and transportation access affect industrial property values?
In Akron, Ohio, the location and transportation access of industrial properties significantly impact their values, with proximity to major transportation facilities, highways, and amenities influencing property values.
- Industrial properties located near the Akron-Canton Airport, Interstate 77, Interstate 76, and Ohio State Route 8 tend to have higher values due to their accessibility and connectivity to regional and national markets.
- Properties situated near the METRO Regional Transit Authority system, Akron Northside Station, and the Robert K. Pfaff Transit Center also benefit from easy access to public transportation, increasing their appeal to businesses and employees.
- Additionally, industrial properties in close proximity to amenities like Lock 3 Park, Firestone Park, and the Ohio and Erie Canal Towpath Trail can command higher values due to their desirability and potential for employee recruitment and retention.
