Finally got a lease signed on a dead strip mall in Akron

I been eyeing this old strip mall on Copley Road for almost 6 months. It's been half empty since 2019 and the parking lot is cracked to hell. But the rent was stupid cheap and it's right off the highway. Last week I finally got a tenant to sign for a laundromat in one of the empty units. Dude runs three other places in the city and says the traffic counts are solid. I had to fix the roof drain and add a new water line but it only cost me like $4k total. Seeing that space go from dark to a working business feels good. Anyone else have luck with neglected properties turning around?

3 comments

3 Comments

evan_harris1412d ago

You patched a roof drain for $4k? That's a steal. I had to replace the entire sewer line on a similar spot in Canton. Cost me 12 grand and three months of back and forth with the city. But once it's done, you're set. The water line thing is smart. I always check that first now. A lot of these old plazas have galvanized pipes ready to crack.

jordan46411d ago

Yeah but I gotta push back a little on calling a roof drain patch for $4k a steal. I've been doing this long enough to know that price tag usually means they only fixed the surface problem, not the actual issue behind it. A lot of these guys will seal up a visible leak and call it done, but that water's still finding a way somewhere else. And with those old flat roofs, you're really just buying time until the real repair comes due. I'd rather pay double now and know it's done right than pay $4k for a bandaid that lasts a year.

drew_grant5211d ago

Ain't it funny how old buildings always hide the expensive surprises?