Freestanding Storefront at Signalized
For Sale
$3,500,000
14941 South Avenue, Columbiana, OH 44408
CommercialSale, Columbiana, OH
Property Size14,500 SF
Lot Size1.57 Acres
Price / SF$241.38
Days on Market33
Property Features for 14941 South Avenue
General Information
Property type
Commercial Sale
Property subtype
Retail
Parking
64
Subdivision
L J Harrold 01
Elementary school district
Columbiana EVSD - 1502
Middle school district
Columbiana EVSD - 1502
High school district
Columbiana EVSD - 1502
Directions
From State Route 11, take the State Route 14 (Columbiana) exit and travel west toward Columbiana. Continue approximately 1.5 miles to the signalized intersection of State Route 14 and South Avenue. The property is located on the southeast corner of the intersection at 14941 South Ave., Columbiana, OH, the former Rite Aid building.
Standard status
Active
APN
54-120-0-007.00-0
Lot size
1.57 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
LOT 1 286.17 X 211.26 IRR RITE AID ALLOTMENT PLAT # 1
Tax Annual Amount
70928
Legal Description
LOT 1 286.17 X 211.26 IRR RITE AID ALLOTMENT PLAT # 1
Utilities
Heating system
Forced Air, Natural Gas
Cooling system
Multi Units
Water source
Public
Building Details
Year built
2008
Listing Agency:
Gonatas Real Estate LLC
(330) 729-5004
Listed By:
Dennis D Gonatas Sr. · License #2023000272
(330) 501-8300
Added: Aug 4
Changed: Aug 19
Last Checked: Sep 5 at 10:06PM
MLS# 5234223
Copyright © 2026 MLS Now. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This freestanding storefront property occupies a 1.571-acre site at the signalized intersection of South Avenue and State Route 14. The building was constructed in 2008 and originally served as a national pharmacy, with an open interior configuration and ample parking. Heating is provided by forced-air natural gas systems, cooling uses multiple units, and the property has public water service.
The property is located at 14941 South Avenue in Columbiana, Ohio, less than two miles from State Route 11. Surrounding commercial activity includes Das Dutch Haus, Sparkle Market, national restaurants, financial institutions, and expanding residential development. Multiple access points and its position along South Avenue support a range of storefront, office, medical, retail, or redevelopment concepts, subject to applicable approvals.
The property is located at 14941 South Avenue in Columbiana, Ohio, less than two miles from State Route 11. Surrounding commercial activity includes Das Dutch Haus, Sparkle Market, national restaurants, financial institutions, and expanding residential development. Multiple access points and its position along South Avenue support a range of storefront, office, medical, retail, or redevelopment concepts, subject to applicable approvals.
Key Highlights
- 1.571‑acre commercial site at 14941 South Avenue, Columbiana, OH 44408
- Signalized intersection of South Avenue and State Route 14
- Freestanding building constructed in 2008
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$117,902
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.37%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,358,040
$2.4M
Cap Rate 7%
$1,684,314
$1.7M
Cap Rate 9%
$1,310,022
$1.3M
Market Conditions
NOI Build-Up for 14,500 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$191.4K $13.20/SF
− Vacancy
−$23.0K −$1.58/SF
EGI
$168.4K $11.62/SF
− OpEx
−$50.5K −$3.48/SF
NOI
$117.9K $8.13/SF
Area
Columbiana County, OH
Vacancy
12.00%
Lease Rate
$13.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,358,040
Cap Rate 7%
$1,684,314
Cap Rate 9%
$1,310,022
Alternative Uses
Best Use
Retail
$1.68M
$1.47M – $1.97M
NOI $117,902 @ 7.0% cap · market cap 3.37%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$12.25M
$10.72M – $14.29M
NOI $857,376 @ 7.0% cap · market cap 24.50%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Single-tenant
Tenancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
233
Businesses Nearby
109k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 61%
Shops & Services 35%
Hotels & Casinos 2%
Electronics 2%
McDonald's
Dining
20,640 visits/mo
0.0 miles
Taco Bell
Dining
12,175 visits/mo
0.2 miles
Dollar General
Shops & Services
12,019 visits/mo
0.2 miles
Wendy's
Dining
10,312 visits/mo
0.0 miles
Burger King
Dining
9,379 visits/mo
0.2 miles
Demographics for 44408, OH
10,526
Population
5,079
Households
2.1
Avg Household Size
48
Median Age
33%
College-Educated
95%
High-School Grad
35.6 sq mi
ZIP Area
296
Density / Sq Mi
$71,205
Median Household Income
$41,181
Median Earnings
$681
Median Rent
$197,400
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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- Lemon Tree Flowers & Things — 1107 Village Plaza, Columbiana, OH 44408
Frequently Asked Questions
What type of property is this?
Storefront property - Commercial building with multiple access points, ample parking, and a flexible open interior layout.
Where is this storefront property located?
The property is located at 14941 South Avenue Columbiana, OH.
What is the asking price?
The asking price for this property is $3,500,000.
What are key features of this property?
This property features: 1.571‑acre commercial site at 14941 South Avenue, Columbiana, OH 44408; Signalized intersection of South Avenue and State Route 14; Freestanding building constructed in 2008
