Open-Plan Retail
For Sale
$279,000
5904 south Avenue, Boardman, OH 44512
SINGLE_FAMILY - Boardman, OH
Property Size3,000 SF
Lot Size0.38 Acres
Price / SF$93
Days on Market132
Property Features for 5904 south Avenue
General Information
Property type
Residential
Property subtype
Retail
Zoning description
Commercial
Elementary school district
Boardman LSD - 5002
Middle school district
Boardman LSD - 5002
High school district
Boardman LSD - 5002
Directions
Corner of mathews road and south ave
Standard status
Active
APN
290150011000
Lot size
0.38 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
3027
Utilities
Heating system
Forced Air, Natural Gas
Building Details
Year built
1960
Listing Agency:
RE/MAX Valley Real Estate · RE/MAX International
(330) 629-9200
Listed By:
Ronald M Liptak · License #422166
(330) 507-6766
Added: Apr 10
Changed: Jul 28
Last Checked: Aug 19 at 5:06AM
MLS# 5200475
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 property presents a retail storefront configuration with an open-plan interior described as approximately 3,000 square feet. The available space is set up as a single, flexible room, which can simplify layout planning for many retail uses.
The property is located at 5904 South Avenue in Boardman, Ohio 44512, on a lot measuring approximately 0.375 acres.
If you’re evaluating space that can be adapted to your specific retail buildout, the open layout is a practical starting point for planning.
The property is located at 5904 South Avenue in Boardman, Ohio 44512, on a lot measuring approximately 0.375 acres.
If you’re evaluating space that can be adapted to your specific retail buildout, the open layout is a practical starting point for planning.
Key Highlights
- Approx. 3,000 SF open space
- Natural gas heating with forced air
- Built in 1960
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
$9,450
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
3.39%
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%
$189,000
$189.0K
Cap Rate 7%
$135,000
$135.0K
Cap Rate 9%
$105,000
$105.0K
Market Conditions
NOI Build-Up for 3,000 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
$18.0K $6.00/SF
− Vacancy
−$4.5K −$1.50/SF
EGI
$13.5K $4.50/SF
− OpEx
−$4.1K −$1.35/SF
NOI
$9.5K $3.15/SF
Area
Mahoning County, OH
Vacancy
25.00%
Lease Rate
$6.00 /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%
$189,000
Cap Rate 7%
$135,000
Cap Rate 9%
$105,000
Alternative Uses
Best Use
Retail
$135.0K
$118.1K – $157.5K
NOI $9,450 @ 7.0% cap · market cap 3.39%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$566.1K
$495.4K – $660.5K
NOI $39,629 @ 7.0% cap · market cap 14.20%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
176
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 44512, OH
33,282
Population
15,770
Households
2.1
Avg Household Size
44
Median Age
35%
College-Educated
94%
High-School Grad
17.0 sq mi
ZIP Area
1,958
Density / Sq Mi
$62,311
Median Household Income
$38,828
Median Earnings
$788
Median Rent
$158,800
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Storefront property - Open-plan retail space offering a large, flexible interior footprint.
Where is this storefront property located?
The property is located at 5904 south Avenue Boardman, OH.
What is the asking price?
The asking price for this property is $279,000.
What are key features of this property?
This property features: Approx. 3,000 SF open space; Natural gas heating with forced air; Built in 1960
