305-206-1286
711 Johnston St, Akron, OH for Sale
Warehouse - FOR SALE
1/11
null | Request Cap Rate

711 Johnston St
Akron, OH 44306
East End


HIGHLIGHTS

  • ABSOLUTE $1 AUCTION | ± 97K SF | Self-Storage Entitled | $1.75M Federal Historic Tax Credits | AUCTION MAY 19-21, 2025
  • Fully Entitled and Permitted Self-Storage Conversion Development Opportunity
  • Proposed 63,535 Rentable SF w/ 503 Climate-Controlled Units | 70 Exterior Drive-Up Units
  • Excellent Visibility along both Johnston Street and Ohio Highway 8 with Traffic Counts over 115K VPD
  • $1.75M in Historic Tax Credits Awarded | Tax Credits can be Sold to Investor for $1.25M Equity or Kept by Developer
  • Under-Supplied Self-Storage Market | Only 4.41 Net Rentable SF Per Capita within 3-Mile Radius | Market Studies Indicate over 600K SF of Unmet Demand

OVERVIEW

Marcus & Millichap is pleased to present the sale of 711 Johnston Street (the Property) in Akron, Ohio. The Property presents an investor the opportunity to acquire a fully entitled self-storage conversion with 503 climate-controlled units and 70 exterior drive-up units. Originally constructed in the 1920s, the 97,480 gross square foot, 4-story warehouse played a significant role in Akron's tire industry, notably associated with the Schrader Valve, a component still utilized in vehicle and bicycle tires today. The proposed project envisions a 63,535 rentable square foot facility comprising 503 climate-controlled units and 70 exterior drive-up units. Strategically positioned with excellent visibility along both Johnston Street and Ohio Highway 8, the site benefits from traffic counts exceeding 115,000 vehicles per day. The development has secured $1,750,000 in historic tax credits which can be sold to an investor for $1,250,000 equity upon project completion or retained by the developer. The local self-storage market is under-supplied, offering only 4.41 net rentable square feet per capita within a 3-mile radius, with market studies indicating over 600,000 square feet of unmet demand. Akron, Ohio, is a mid-sized city in Northeast Ohio, known for its industrial heritage, healthcare sector, and growing innovation economy. The area boasts dense demographics, with a 3-mile population of 104,806 and approximately 217,920 residents within a 5-mile radius.

FOR SALE DETAILS

PRICE

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CAP RATE

Request Cap Rate

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

$1 Auction – 97K SF | Self-Storage Entitled

PROPERTY TYPE

Industrial

PROPERTY SUBTYPE

Warehouse

TOTAL BUILDING SIZE

-

STORIES

5

YEAR BUILT

1921

UTILITIES

Gas, Water - City, Sewer - City, Heating

CLEAR CEILING HT

12 Ft

DOCKS

4

DRIVE INS

1

PARKING SPACES

-

LAND DETAILS

LAND ACRES

1.62

LAND SF

70,567

ZONING

U-4

APN/PARCEL ID

68-30719

ASK ABOUT THIS PROPERTY

Philip KatesMarcus & MillichapMore Info
305-206-1286

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Philip KatesMarcus & MillichapMore Info
305-206-1286

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.