53-57 E Exchange StreetAkron, OH 44308

53-57 E Exchange StreetAkron, OH 44308

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$450,000 Active
Commercial - Business MLS 5189854

Listed By

Agency Name: RE/MAX Edge Realty
Agency Contact: amercier@amhghomes.com, 330-977-5798

Shown By

Agency Title: Cutler Real Estate
Agency Phone: 888-763-7575

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Property Description

Prime Investment Opportunity Mixed-Use Commercial Property with Strong Upside Potential! Don't miss this exceptional mixed-use building featuring 7 residential row apartments (6 occupied and 1 vacant) and 3 commercial storefront units (2 Vacant/1 occupied, offering immediate income with significant value-add opportunity. Seller is currently collecting $3180/mo in rent monthly! This well-positioned property provides a versatile investment opportunity for both seasoned investors and those looking to expand their portfolio. The residential component includes 5 currently rented apartments, generating steady cash flow, with 1 vacant unit ready for lease or owner occupancy. The remaining apartment offers additional flexibility depending on your strategy. The commercial portion consists of 3 storefront units, with 1 currently occupied and 2 vacant spaces, presenting an excellent opportunity to increase rental income and boost overall returns. With multiple income streams and vacancy upside, this property is ideal for investors seeking to stabilize and maximize value through strategic leasing. The mix of residential and commercial tenants provides built-in diversification and long-term growth potential. Whether you're looking to expand your portfolio, reposition an asset, or secure a multi-unit property with income already in place, this mixed-use building delivers opportunity and flexibility. Schedule your private showing today and explore the possibilities this investment property has to offer!

53-57 E Exchange Street | MLS# 5189854

This commercial property located at 53-57 E Exchange Street, Akron, OH 44308 is currently listed for sale with an asking price of $450,000. 53-57 E Exchange Street is located within the Akron City school district. Search Akron real estate on 15ontariotrail.cutlerhomes.com today.

Property Features

Property Type: Commercial - Business
Basement: Full, Unfinished, Walk-Out Access
Basement: Yes
Cooling: None, Wall/Window Unit(s)
Heating: Gas, Radiant
Lot Size: 0.11 Acres
Roof Type: Asphalt, Fiberglass
Taxes: $4,510 / year
Year Built: 1915

Feature Descriptions

Building Features: Private Restrooms
Fencing: None
Parcel#: 6702029
Parking: None
Sewer: Public Sewer
Units: 3
Water: Public

Local Schools

School District: Akron City

Demographics

Summit County Demographic Information for 53-57 E Exchange Street, Akron, OH 44308
Fips
Fips Code 39153
Population
2020 to 2023 Change down 0.9%
2010 Count 541,781
2020 Count 540,428
2023 Estimate (V2023) 535,733
2020 Estimate (V2023) 540,429
Age Distribution (Years Old)
0 to 4 5.2%
5 to 17 20.5%
18 to 64 54.6%
65 and Older 19.7%
Gender
Male 48.8%
Female 51.2%
Place of Birth
Foreign 5.5%
US 94.5%
Education
High School Graduate, Age 25+ 92.5%
Bachelor's Degree or Higher, Age 25+ 34.6%
Computer and Internet use
Households with a computer 93.6%
Households with a broadband Internet subscription 89.4%
Language
English is Second Language, Age 5+ 6.8%
English is First Language, Age 5+ 93.2%
Veterans
Veterans 27,960
Income
Per Capita Income $40,786
Median Household Income $68,360
People in Poverty 12.6%
Commute
Average Work Commute Time 24 minutes
Housing
Total Housing Units 247,173
Households 228,635
Average Household Size 2.32
Owner-Occupied 66.9%
Multi-Family 22.4%
Owner-Occupied Median Value $182,500
Median selected monthly owner costs -with a mortgage $1,405
Median selected monthly owner costs -without a mortgage $562
Median gross rent $956
Building Permits
New Private Housing Issued 2023 685
Years at Residence
1 Year or More 87.9%
Less Than 1 Year 12.1%
Business and Employment
Private non-farm Establishments 13,393
Private non-farm Employment 241,278
Private non-farm Employment Growth down 0.8%
Nonemployer Establishments 42,765
Number of Firms 48,524
Business Production
Value of Shipments $9,410,730,000
Wholesale Trade $9,120,214,000
Retail Trade $8,582,177,000
Retail Sales Per Capita $15,606
Accommodation and Food Services $1,190,062,000
Land
Land Area 412.75 sq. miles
Population Per Square Mile 1,313

Source: US Census Bureau