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    Thriving Business in Prime Location Title is generated by Realmo AI

    601 Claremont Avenue, Ashland, OH 44805

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    Claim this Listing
    For Sale
    $799,000

    Commercial, Food Service - Ashland, OH

    Property size:
    1,260 SF
    Lot size:
    0.37 Acres
    Price / SF:
    $634/SF
    Added:
    Jan 7, 2026
    Days on Market:
    140
    Last Refresh:
    May 27 at 2:06 pm

    Property Features for 601 Claremont Avenue

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Interior features
    Restroom-public, Storage, Other
    Standard status
    Active
    APN
    P44-057-0-0086-00
    Size
    1,260 SF
    Lot size
    0.37 Acres

    Taxes and HOA fees

    Tax Annual Amount
    3368.06

    Utilities

    Heating system
    Natural Gas

    Building Details

    Year built
    1975
    Flooring type
    Concrete
    Building materials
    Brick, Vinyl Siding
    Roof type
    Other
    Architectural style
    Other

    We can help!

    Listing Contact
    Justin Blair

    Listing agent Justin Blair

    Listing office Sluss Realty Co. 1641 Park Avenue W., OH

    Listing date Jan 7, 2026

    MLS# 229716 Listing URL

    Copyright © 2026 Ashland Board of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Prime location within walking distance of Ashland University and downtown shopping/dining, ensuring high visibility and traffic.
    • Thriving local business with a strong community presence.
    • Fully equipped prep space with commercial sinks.
    • Customer seating area and bright serving counter.
    • Outdoor seating with picnic tables and a large concrete parking lot.
    • Modern conveniences including a video security system and updated lighting.

    Overview

    This property presents an opportunity to own a local business in a prime location. Situated within walking distance of Ashland University and the downtown shopping and dining district, the property benefits from high visibility, steady traffic, and a strong community presence. The building features a customer seating area, a serving counter, and a prep space equipped with commercial sinks. Outdoor seating is available with picnic tables, and a concrete lot provides parking and access. Modern conveniences include a video security system, and updated lighting. The property is a 1,260 square foot building on 0.3664 acres. The property is located in Ashland, OH 44805. The property is intended for food service and offers the chance to invest in a well-established business. The seller will consider offers on the business only, and lease options are also available.
    Property Profile Location Intelligence

    Current Use by Public Records

    Grocery and convenience stores

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Ashland
    County
    Ashland
    State
    Ohio
    Longitude
    -82.3210244
    Latitude
    40.8639628

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    FAQs

    What type of property is this?
    Grocery and convenience store - Established business near Ashland University and downtown shopping/dining district.
    Where is this grocery and convenience store located?
    The property is located at 601 Claremont Avenue Ashland, OH.
    What is the asking price?
    The asking price for this property is $799,000.
    What are key features of this property?
    This property features: Prime location within walking distance of Ashland University and downtown shopping/dining, ensuring high visibility and traffic.; Thriving local business with a strong community presence.; Fully equipped prep space with commercial sinks.
    (419) 908-3550
    We can help!
    Listing Contact
    Justin Blair
    Request Owner's contact information
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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