Freestanding Medical Office
For Sale
Contact for pricing
661 Mahoning Ave Nw, Warren, OH
Well-maintained medical office building with nine exam rooms for sale.
Property Size5,960 SF
Lot Size0.72 Acres
Price / SF$251.68
Days on Market412
Property Features for 661 Mahoning Ave Nw
General Information
Standard status
Active
Size
5,960 SF
Lot size
0.72 Acres
Property subtype
OFFICE
Lease Type
NNN
Properties For Sale
at 661 Mahoning Ave Nw Contact us- Floor
- Bldg
- Size
- 5,960 SF
- Type
- OFFICE
- Lease Type
- NNN
- Availability
- AVAILABLE, Now
- Sublease
- No
661 Mahoning Ave Nw
- Freestanding medical offices/children’s hospital with 9 exam rooms
- Extremely...
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Listing Agency:
Platz Realty Group
(330) 757-4889
Listed By:
Bill Kutlick
(330) 565-5701
Source:
Moodyscre
Added: Jul 29, 2025
Changed: Aug 8
Last Checked: Sep 13 at 11:34AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Platz Realty Group
Investment Insights
Based on property information with market context.
This is a freestanding medical office building, previously used as a children’s hospital, featuring nine exam rooms. The property is extremely well maintained and has been recently updated, presenting a clean and bright interior. Ample parking is available. The property is located close to downtown Warren. The building has a size of 5,960 square feet.
Key Highlights
- Freestanding medical offices/children’s hospital with 9 exam rooms
- Extremely well maintained property**
- Lots of parking
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
$57,609
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
3.84%
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%
$1,152,180
$1.2M
Cap Rate 7%
$822,986
$823.0K
Cap Rate 9%
$640,100
$640.1K
Market Conditions
NOI Build-Up for 5,960 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
$107.3K $18.00/SF
− Vacancy
−$11.3K −$1.89/SF
EGI
$96.0K $16.11/SF
− OpEx
−$38.4K −$6.44/SF
NOI
$57.6K $9.67/SF
Area
Trumbull County, OH
Vacancy
10.50%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
40.00%
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%
$1,152,180
Cap Rate 7%
$822,986
Cap Rate 9%
$640,100
Alternative Uses
Best Use
Healthcare Medical
$823.0K
$720.1K – $960.2K
NOI $57,609 @ 7.0% cap · market cap 3.84%
Second Best
Office B
$820.4K
$717.9K – $957.2K
NOI $57,430 @ 7.0% cap · market cap 3.83%
Theoretical Best
Office A
$1.13M
$989.8K – $1.32M
NOI $79,187 @ 7.0% cap · market cap 5.28%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
1,025
Businesses Nearby
Balanced
Demand for This Use
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Business Placement
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Midwest region
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Well-maintained medical office building with nine exam rooms for sale.
Where is this medical office space located?
The property is located at 661 Mahoning Ave Nw Warren, OH.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: Freestanding medical offices/children’s hospital with **9 exam rooms**; Extremely well maintained property**; Lots of parking
