SVN Summit CRE Closes $2.65M Sale of Multi-Tenant Investment Property in Akron
SVN Summit Commercial Real Estate Advisors is pleased to announce the successful sale of a two-building, multi-tenant property at 555–557 E. Tallmadge Avenue in Akron, Ohio, for $2,650,000.
The property totals 68,369 square feet across two buildings situated on 20.62 acres, with a sale price equating to just under $39 per square foot. This strategic investment represents an important transaction in Akron’s industrial and office corridor, offering both stability and long-term growth opportunities.
Property Overview
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Sale Price: $2,650,000
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Buildings: Two (16,000 SF and 52,369 SF)
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Lot Size: 20.62 Acres
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Zoning: U-5 Ordinary Industry
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Price per SF: $38.76
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Anchor Tenant: FedEx Ground (occupies 22,500 SF across both buildings)
FedEx has been a long-standing tenant at the site, with a history dating back to 1989. Their presence secures steady income while positioning the property as an attractive investment anchored by a nationally recognized logistics leader.
At the same time, the underutilized rear building provides a value-add opportunity for the new owner, with potential for expanded leasing or redevelopment. This dual advantage, stable tenancy with room for growth, makes the property a unique asset in the Akron market.
Situated in Akron’s North Hill industrial corridor, the property benefits from nearby access to State Route 8 and is well positioned for long-term growth and reinvestment.
The SVN Difference, built on collaboration, transparency, and open cooperation, ensures clients benefit from both local expertise and the national reach of the SVN network. In this case, teamwork enabled the seller to maximize value while helping the buyer secure an asset with strong fundamentals and future upside.
Community Impact
Beyond the transaction itself, this property plays an important role in Akron’s economy. Maintaining FedEx’s presence secures jobs and tax revenue, while future leasing or redevelopment of the rear building will add vibrancy to the corridor. This sale represents an investment not only in real estate, but also in the future of Akron’s industrial and office market.