Overview
Matthews™ is pleased to present the opportunity to acquire a multi tenant medical office building located at 390 Robinson Ave, Barberton, OH 44203. The property is anchored by AxessPointe Community Health Centers, a Federally Qualified Health Center that has operated at this location since 2014 and offers medical, dental, pharmacy, behavioral health, Medication-Assisted Treatment (MAT), and supportive services to the surrounding community. Ascent Audiology and Hearing provides complementary specialist care within the building, creating a true neighborhood health hub.
The asset offers investors stable in place cash flow backed by long standing healthcare providers, with clear upside through lease up of the remaining vacancy. The property is located within Anna Dean Professional Park less than one mile from Summa Health System Barberton Campus and approximately seven miles south of downtown Akron, benefiting from strong surrounding demographics and a dense, everyday needs trade area. This combination of durable tenancy, medical corridor location, and value add potential positions 390 Robinson Ave as an attractive medical office investment in the Akron metro.
Investment Highlights
- Federally Qualified Health Center Anchor: AxessPointe Community Health Centers leases more than 12,200 square feet and represents roughly seventy two percent of the net rentable area, operating since February 2014 with a lease through July 2029 and two 5-year extension options.
- Complementary Healthcare Tenancy and On-Site Pharmacy: Ascent Audiology and Hearing occupies nearly 3,000 square feet, and an AxessPointe branded pharmacy is located within the building, providing comprehensive healthcare services.
- Clear Value Add Potential: Approximately 1,700 square foot suite is vacant, representing about 10% of the building, with potential to add around thirty thousand dollars of additional annual base rent.
- Modern Two-Story MOB: Constructed in 2003, the two-story, class B condominium totals approximately 16,836 SF with elevator access and efficient suite configurations for healthcare providers.
- Strategic Location Near Hospital: Located less than one mile from Summa Health System Barberton Campus, allowing tenants to coordinate care and access a full spectrum of acute and specialty services.
- Dense Trade Area with Senior Demographics: Five-mile population exceeds 113,000 with an average household income above $60,000, supporting a deep and diverse patient base.
- Accessible Akron Metro Location: Convenient access to State Route 619 and proximity to Akron and Canton metros, drawing patients from a broad regional trade area.
- Hedge Against Economic Downturns: Medical office properties have shown resilience with occupancy levels around or above ninety percent and stable rent growth.
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