797 E Market ST, Akron, OH 44305
797 E Market ST, Akron, OH 44305
797 E Market ST, Akron, OH 44305
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$4,900,000
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1.63 Acres Lot
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797 E Market ST Akron, OH 44305

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James Duncan

James Duncan

+1(330) 606-9212

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Key Details

Property Type Commercial

Sub Type Retail

Listing Status Active

Purchase Type For Sale

MLS Listing ID 5207316

Construction Status Updated/Remodeled

HOA Y/N No

Year Built 1965

Annual Tax Amount $41,819

Tax Year 2024

Lot Size 1.630 Acres

Acres 1.63

Property Sub-Type Retail

Property Description

Occupying a prominent position in Akron's thriving East Market Corridor, "The 797 Building" represents a rare opportunity to acquire a diversified, 66,000+ SF mixed-use asset with immediate equity potential. This three-story property is anchored by the prestigious Alexander Pierce Restaurant, providing a stable commercial foundation with a current lease of $9,000 per month. The building's revenue is further bolstered by 40 luxury one- and two-bedroom apartment residences, which command monthly rents between $1,000 and $1,400. Extensive renovations completed between 2019 and 2020 modernized the infrastructure, including residential unit updates, the installation of energy-efficient mini-split heating and cooling, and significant upgrades to all common areas. Beyond standard residential living, the property offers an upscale hospitality experience through its members-only Coat Room Lounge and the innovative first-floor Screen Suites, which provide private dining and theater experiences. Residents enjoy a robust amenity package featuring a business center, exercise room, multiple club lounges with workspaces, a pool table, and private event spaces. Practical needs are met with onsite laundry services, full security and fire systems, multiple elevators, and off-street parking for 84 vehicles. Ideally located near the University of Akron, major medical hubs, and downtown Akron, this extensively renovated asset is perfectly positioned to capitalize on the region's emerging growth.

Location

State OH

County Summit

Community Fitness Center

Rooms

Basement None

Interior

Heating Forced Air, Gas

Cooling Central Air

Fireplace No

Laundry Coin-operated

Exterior

Parking Features Drive Through, Guest, Lighted, No Garage, On Site, Paved

Fence Privacy

Community Features Fitness Center

Water Access Desc Public

Roof Type Flat

Present Use Mixed Use,Residential,Retail,Single Family

Building

Sewer Public Sewer

Water Public

Construction Status Updated/Remodeled

Schools

School District Akron Csd - 7701

Others

Tax ID 6764330

Security Features Fire Alarm,Fire Escape

Acceptable Financing Cash, Conventional, 1031 Exchange

Listing Terms Cash, Conventional, 1031 Exchange

IDX - Northern Ohio Regional MLS (YES-MLS)/MLS NOW
Listed by Jessica Nader • RE/MAX Crossroads Properties • jess.nader21@gmail.com, 330-209-2008

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James Duncan

James Duncan

Agent | License ID: 449204

+1(330) 606-9212

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797 E Market ST